New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) Part 2 deals with the establishment and governance of statutory entities (subpart 1), Crown entity companies (subpart 2), and Crown entity subsidiaries (subpart 3), and covers matters such as status, powers, members, duties, delegations, and conflicts of interests, to the extent that those matters are applicable to each of those categories of Crown entity.
(2) Part 3 deals with the operation of Crown entities and with matters such as—
(a) what directions the Government can give to Crown entities:
(b) to what extent members, employees, committee members, and office holders are immune from liability in legal proceedings or may be reimbursed for costs incurred in settling claims or in proceedings:
(c) employees and compliance with the requirements of being a good employer and providing equal employment opportunities:
(d) how Crown entities deal with third parties.
(3) Part 4 deals with the accountability of Crown entities to Parliament and the Crown, and sets out rules on planning, financial statements, reporting, acquisition of securities, borrowing, derivatives, payment of net surpluses to the Crown, capital charges, and taxation.
(4) Part 5 contains miscellaneous, transitional, and savings provisions.
(5) Schedules 1 and 2 list the Crown entities in the various categories.
(6) Schedules 3 and 4 list the provisions that apply to school boards of trustees and tertiary education institutions and their Crown entity subsidiaries.
(7) Schedule 5 sets out the board procedure for statutory entities (other than corporations sole).
(8) Subsections (1) to (7) are only a guide to the general scheme and effect of this Act.