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Electricity Industry Reform Amendment Act 2008 No 71, Public Act

Electricity Industry Reform Amendment Act 2008

Public Act2008 No 71
Date of assent16 September 2008
Commencementsee section 2

Contents

1 Title

2 Commencement

Part 1
Amendments to principal Act

3 Principal Act amended

4 Purpose

5 Interpretation

6 Sections 4 and 5 repealed

7 New sections 6 to section 7A substituted

6 Meaning of business A and business B

7 Meaning of involved

7A How to measure involvement

8 Meaning of material influence

9 Meaning of associate

10 New headings and sections 17 to 17G substituted

Ownership separation

17 Ownership restrictions

Connected generation and connected customers selling caps

17A Connected generation cap rule

17B Small or encouraged connected generation

17C Connected customers selling cap rule

Corporate separation and arm’s-length rules

17D Threshold for corporate separation and arm's-length rules

17E Corporate separation and arm’s-length rules imposed

Use-of-systems agreements rules for businesses with 5 MW or more of connected generation

17F Use-of-systems agreements rules for businesses with 5 MW or more of connected generation

Exemption for Transpower

17G Exemption for Transpower New Zealand Limited for purpose of deferring investment in national grid

11 Section 18 repealed

12 New heading above section 19 substituted

13 Certain businesses and involvements to be disregarded

14 Sections 22 to 46C and headings repealed

15 Inadvertent contraventions

16 Court may order divestiture of assets or voting securities

17 Application of Commerce Act 1986 and Crown Entities Act 2004 provisions

18 Part 4 repealed

19 Disclosure regime

20 New sections 70A and 70B inserted

70A Disclosure as to electricity sold to connected customers within local network area

70B Directors must report compliance with arm’s-length rules

21 Sections 71 to 79 and heading above section 71 repealed

22 Not interconnected under Commerce Act 1986

23 Sections 84 and 85 repealed

24 Regulations

25 Part 7 repealed

26 Part 8 repealed

27 Schedule 1 substituted

Part 2
Amendments to other Acts and transitional provision

28 Consequential amendments to Commerce Act 1986

29 New sections 57DAA and 57DAAB inserted

57DAA Meaning of electricity lines business

57DAAB Meaning of electricity supply business

30 Consequential amendments to Electricity Act 1992

31 Saving of existing exemptions

Schedule 
New Schedule 1 substituted

Legislative history

The Parliament of New Zealand enacts as follows:

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