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Electricity Industry Reform Amendment Bill 191-2 (2007), Government Bill

  • enacted

Hon David Parker

Electricity Industry Reform Amendment Bill

Government Bill

191—2

As reported from the Commerce Committee

Contents

Commentary

Key

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6 Sections 4 and 5 repealed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 7A substituted

6 Meaning of business A and business B

7 Meaning of involved

7A How to measure involvement

7A Meaning of material influence

7B Meaning of associate

8 New headings and sections 17 to 17F 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

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

Exemption for Transpower

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

9 Section 18 repealed

10 New heading above section 19 substituted

11 Certain businesses and involvements to be disregarded

12 Sections 22 to 46C and headings repealed

13 Inadvertent contraventions

14 Court may order divestiture of assets or voting securities

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

16 Part 4 repealed

17 Disclosure regime

18 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

19 Sections 71 to 79 and heading above section 71 repealed

20 Not interconnected under Commerce Act 1986

21 Sections 84 and 85 repealed

22 Regulations

22A Part 7 repealed

23 Part 8 repealed

24 Schedule 1 amended

24 Schedule 1 substituted

Part 2
Amendments to other Acts and transitional provision

25 Consequential amendments to Commerce Act 1986

26 New sections 57DAA and 57DAAB inserted

57DAA Meaning of electricity lines business

57DAAB Meaning of electricity supply business

27 Consequential amendment to Electricity Act 1992

28 Saving of existing exemptions

Schedule 
New Schedule 1 substituted

Legislative history

The Parliament of New Zealand enacts as follows:

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