New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) Equity securities and debt securities issued by an airport company and held in the name of a person described as the Minister for State-Owned Enterprises or the Minister of Finance shall be held by the person for the time being holding the office of Minister for State-Owned Enterprises or Minister of Finance, as the case may be.
(2) Notwithstanding any other enactment or rule of law, it shall not be necessary to complete or register a transfer of securities upon a change in the person holding the office of Minister or Minister of Finance, as the case may be.
(3) A Minister may at any time or times, by written notice to an airport company authorise, on such terms and conditions as are specified in the notice, such person as the Minister thinks fit to act as the Minister's representative at any or all of the meetings of shareholders of the airport company or of any class of such shareholders, and any person so authorised shall be entitled to exercise the same powers on behalf of the Minister as the Minister could exercise if present in person at the meeting or meetings.
Section 3AA: inserted, on 10 August 1992, by section 39 of the Civil Aviation Amendment Act 1992 (1992 No 75).
Section 3AA(1): substituted, on 1 February 1998, by section 3 of the Airport Authorities Amendment Act 1996 (1996 No 93).
