New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) For the purposes of this Act, person A is an associate of person B (and vice versa) if—
(a) Person A is a body corporate, and person B is—
(i) A director of that body corporate; or
(ii) A related body corporate of that body corporate (within the meaning of section 5B(2) of the Securities Markets Act 1988); or
(iii) A director of a related body corporate of that body corporate (within that same meaning); or
(b) Person A is a spouse, civil union partner, de facto partner, child, or parent of person B; or
(c) [Repealed]
(d) Person A is a partner, to whom the Partnership Act 1908 applies, of person B; or
(da) person A is a limited partnership or an overseas limited partnership and person B is a general partner or a limited partner who takes part in the management of the limited partnership (within the meaning of the Limited Partnerships Act 2008); or
(e) Person A is a nominee or trustee for person B in relation to interests in a business; or
(f) Person A is a director of a company, or holds more than 10% of the control rights in the company, and person A and person B are parties to an agreement relating to—
(i) The control of that company; or
(ii) More than 20% of the control rights in that company; or
(g) Person A and person B are acting, or propose to act, or are likely to act, jointly or in concert in relation to a business; or
(h) Person A is a person who, in making a decision or exercising a power materially affecting a business, is accustomed, or under an obligation, or proposes, or is likely, to act in accordance with the directions, instructions, or wishes of person B.
(2) References in subsection (1)(e) to (h) to a company or business relate to a company or business in respect of which a connection with an electricity business is relevant.
Section 12(1)(a)(ii): amended, on 29 February 2008, by section 14 of the Securities Markets Amendment Act 2006 (2006 No 47).
Subsection (1)(a)(ii) was amended, as from 1 December 2002, by section 30 Securities Markets Amendment Act 2002 (2002 No 44) by substituting the word “Markets”
for the word “Amendment”
.
Subsection (1)(b) was amended, as from 26 April 2005, by section 7 Relationships (Statutory References) Act 2005 (2005 No 3) by inserting the words “civil union partner, de facto partner,”
after the word “spouse,”
.
Subsection (1)(c) was repealed, as from 26 April 2005, by section 7 Relationships (Statutory References) Act 2005 (2005 No 3).
Section 12(1)(da): inserted, on 14 October 2008, by section 9 of the Electricity Industry Reform Amendment Act 2008 (2008 No 71).