New Zealand Legislation: Acts

6 Consequences of directions and advice given under section 5

• (1) The Board must comply with a direction given to it under section 5(1) despite anything to the contrary in the State-Owned Enterprises Act 1986, the Companies Act 1993, the Commerce Act 1986, or any other Act or rule of law.

  (2) Neither the Crown nor any shareholding Minister is in breach of, or liable to any person under, sections 4 to 7 of the State-Owned Enterprises Act 1986, the Companies Act 1993, the Commerce Act 1986, or any other Act or rule of law by reason of the giving of a direction under section 5(1) or advice under section 5(2).

  (3) No director of AgriQuality Limited is in breach of, or liable to any person under, the State-Owned Enterprises Act 1986, the Companies Act 1993, the Commerce Act 1986, or any other Act or rule of law by reason of any act or omission reasonably believed by the director to be necessary or desirable—

  • (a) to give effect to, or as a consequence of, a direction given under section 5(1); or

  • (b) as a result of any advice given under section 5(2).