New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) Any question under Parts 1 to 5 is to be determined according to the nature, substance, and economic effect of the interest or relationship or other facts, and independently of form.
(2) Without limiting subsection (1), a person may be involved in an electricity business, or be an associate or agency, regardless of whether a right, influence, power, obligation, or agreement—
(a) is expressed or implied:
(b) is direct or indirect:
(c) is legally enforceable or not:
(d) is related to a particular control right or not:
(e) is subject to restraint or restriction or is capable of being made subject to restraint or restriction:
(f) is exercisable presently or in the future:
(g) is exercisable only on the fulfilment of a condition:
(h) is exercisable alone or jointly with another person or persons.
(3) A power, influence, or ability exercisable jointly with another person or persons is deemed to be exercisable by either or any of those persons.
(4) A reference to a power or obligation includes a reference to a power, influence, ability, or requirement that arises from, or is capable of being exercised or required as the result of, a breach of any trust or agreement whether or not it is legally enforceable.
Compare: 1988 No 234 s 5(4), (5), (6)
