New Zealand Legislation: Acts

8 Meaning of 10% threshold

• A person exceeds the 10% threshold in respect of an electricity business if the person—

  • (a) has more than 10% of the control rights in the business; or

  • (b) has more than 10% of the equity return rights in the business; or

  • (c) is one of 2 or more associates who, in aggregate, have more than 10% of the control rights in the business; or

  • (d) is one of 2 or more associates who, in aggregate, have more than 10% of the equity return rights in the business.