New Zealand Legislation: Bills

18 New sections 70A and 70B inserted

• The following sections are inserted after section 70:

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

  • “(1) Every person who sells electricity to connected customers must provide to the Commission, as soon as practicable after the end of each financial year, a statement that—

    • “(a) shows the calculation of the person’s qualifying generation in respect of that financial year; and

    • “(b) sets out how much electricity the person sold to connected customers during that financial year; and

    • “(c) includes a certificate, signed by the directors of the electricity business, confirming that stating whether or not the quantity of electricity the person sold to connected customers during that financial year did not exceed exceeded the limit set out in section 17C.

    “(2) The statement must be in the form prescribed by the Commission from time to time.

    “(3) The statement must be audited by an independent chartered accountant.

    “(4) The statement must be published on an Internet website site maintained by or on behalf of the electricity business so that it is available to the public at all reasonable times.

    “(5) Every person commits an offence who refuses or knowingly fails to provide the statement to the Commission.

    “(5) Every person commits an offence who—

    • “(a) refuses or knowingly fails to provide the statement to the Commission; or

    • “(b) provides the statement to the Commission knowing that it is false or misleading in a material particular.

    “(6) Every person who commits an offence under subsection (5) is liable on summary conviction to a fine not exceeding $200,000.

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

  • “(1) Each director of a business to which the arm’s-length rules apply must provide to the Commission, no later than 31 March in each year, a statement confirming whether or not the director has complied with all of the arm’s-length rules during the preceding calendar year.

    “(2) The director must publish that statement on an Internet website site maintained by or on behalf of the business so that it is available to the public at all reasonable times.”