This note is not part of the order, but is intended to indicate its general effect.
This order, which comes into force on 1 July 1996, provides for Terralink NZ Limited to become a state enterprise under the State-Owned Enterprises Act 1986.
Clause 2 adds the name of the company to Schedules 1 and 2 to the State-Owned Enterprises Act 1986. The company will thus become a State enterprise on that date.
Clause 3 includes the name of the company in Part 2 of Schedule 1 to the Ombudsmen Act 1975. The company will thus become subject to that Act and to the Official Information Act 1982 on that date.
Clause 4 includes the name of the company in Schedule 18 to the Income Tax Act 1994. Under section CB3(a) of that Act, the incomes of public authorities are exempt from tax. That exemption does not apply to state-owned enterprises.
State-owned enterprises are also special corporate entities for the purposes of the definition of that term in section OB1 of that Act, which definition relates to the loss carry forward and grouping provisions.