Housing Assets Transfer Order 1996

Reprint
as at 30 August 1996

Crest

Housing Assets Transfer Order 1996

(SR 1996/241)

Michael Hardie Boys, Governor-General

Order in Council

At Wellington this 26th day of August 1996

Present:
His Excellency the Governor-General in Council


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

This order is administered by the Housing New Zealand Corporation.


Pursuant to section 6 of the Housing Assets Transfer Act 1993, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following order.

Order

1 Title
  • This order may be cited as the Housing Assets Transfer Order 1996.

2 Interpretation
  • (1) In this order, the Act means the Housing Assets Transfer Act 1993.

    (2) Any term or expression that is not defined in this order, but that is defined in the Act, has the meaning given to it by the Act.

3 Vesting of certain housing assets in Housing Corporation of New Zealand
  • (1) The housing assets specified in the Schedule, being housing assets specified in a list prepared under section 6(1) of the Act by the Minister of Finance and the responsible Minister and dated 5 August 1996, shall vest in the Corporation on 1 October 1996.

    (2) The consideration payable or to be provided by the Corporation for the vesting of the housing assets referred to in subclause (1) is an amount equal to the present value of the principal and interest payments outstanding on such housing assets as at the date on which the administration of those assets was transferred to the Corporation calculated by applying a discount rate of 13.75% to such payments.


Schedule
Housing assets vested in Housing Corporation of New Zealand

cl 3

All mortgages and other securities that, as at the close of 30 September 1996, secure the payment of money lent by or on behalf of the Crown pursuant to the Maori Housing Act 1935 or the Maori Housing Amendment Act 1938, but excluding the mortgage to which the account number 10/51/35726/0 of the Ministry of Maori Development relates.

Marie Shroff,
Clerk of the Executive Council.


Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which is made under section 6 of the Housing Assets Transfer Act 1993, vests certain housing assets in the Housing Corporation of New Zealand on 1 October 1996.

The assets are mortgages and other securities that, as at 30 September 1996, secure the repayment of money lent by the Crown under the Maori Housing Act 1935 or the Maori Housing Amendment Act 1938.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 29 August 1996.


Contents

  • 1General

  • 2Status of reprints

  • 3How reprints are prepared

  • 4Changes made under section 17C of the Acts and Regulations Publication Act 1989

  • 5List of amendments incorporated in this reprint (most recent first)


Notes
1 General
  • This is a reprint of the Housing Assets Transfer Order 1996. The reprint incorporates all the amendments to the order as at 30 August 1996, as specified in the list of amendments at the end of these notes.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the reprint are also included, after the principal enactment, in chronological order. For more information, see http://www.pco.parliament.govt.nz/reprints/ .

2 Status of reprints
  • Under section 16D of the Acts and Regulations Publication Act 1989, reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by the amendments to that enactment. This presumption applies even though editorial changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in the reprint.

    This presumption may be rebutted by producing the official volumes of statutes or statutory regulations in which the principal enactment and its amendments are contained.

3 How reprints are prepared
  • A number of editorial conventions are followed in the preparation of reprints. For example, the enacting words are not included in Acts, and provisions that are repealed or revoked are omitted. For a detailed list of the editorial conventions, see http://www.pco.parliament.govt.nz/editorial-conventions/ or Part 8 of the Tables of New Zealand Acts and Ordinances and Statutory Regulations and Deemed Regulations in Force.

4 Changes made under section 17C of the Acts and Regulations Publication Act 1989
  • Section 17C of the Acts and Regulations Publication Act 1989 authorises the making of editorial changes in a reprint as set out in sections 17D and 17E of that Act so that, to the extent permitted, the format and style of the reprinted enactment is consistent with current legislative drafting practice. Changes that would alter the effect of the legislation are not permitted.

    A new format of legislation was introduced on 1 January 2000. Changes to legislative drafting style have also been made since 1997, and are ongoing. To the extent permitted by section 17C of the Acts and Regulations Publication Act 1989, all legislation reprinted after 1 January 2000 is in the new format for legislation and reflects current drafting practice at the time of the reprint.

    In outline, the editorial changes made in reprints under the authority of section 17C of the Acts and Regulations Publication Act 1989 are set out below, and they have been applied, where relevant, in the preparation of this reprint:

    • omission of unnecessary referential words (such as of this section and of this Act)

    • typeface and type size (Times Roman, generally in 11.5 point)

    • layout of provisions, including:

      • indentation

      • position of section headings (eg, the number and heading now appear above the section)

    • format of definitions (eg, the defined term now appears in bold type, without quotation marks)

    • format of dates (eg, a date formerly expressed as the 1st day of January 1999 is now expressed as 1 January 1999)

    • position of the date of assent (it now appears on the front page of each Act)

    • punctuation (eg, colons are not used after definitions)

    • Parts numbered with roman numerals are replaced with arabic numerals, and all cross-references are changed accordingly

    • case and appearance of letters and words, including:

      • format of headings (eg, headings where each word formerly appeared with an initial capital letter followed by small capital letters are amended so that the heading appears in bold, with only the first word (and any proper nouns) appearing with an initial capital letter)

      • small capital letters in section and subsection references are now capital letters

    • schedules are renumbered (eg, Schedule 1 replaces First Schedule), and all cross-references are changed accordingly

    • running heads (the information that appears at the top of each page)

    • format of two-column schedules of consequential amendments, and schedules of repeals (eg, they are rearranged into alphabetical order, rather than chronological).

5 List of amendments incorporated in this reprint (most recent first)