This note is not part of the order, but is intended to indicate its general effect.
This order brings into force, on 18 June 1999, subsections (7) to (9) of section 3 of the State Owned Enterprises (Contact Energy Limited) Amendment Act 1998.
Subsection (7) removes Contact Energy Limited from Part II of Schedule 1 of the Ombudsmen Act 1975. The company therefore ceases to be subject to that Act and to the Official Information Act 1982 when the order comes into force.
Subsection (8) removes Contact Energy Limited from Schedule 18 of the Income Tax Act 1994. Schedule 18 contains a list of State-owned enterprises. State-owned enterprises are excluded from the exemption from income tax that certain pubic authorities have under CB 3(a) of that Act. As a State-owned enterprise, Contact Energy Limited is also a special corporate entity (as that term is defined in section OB 1 of the Income Tax Act 1994). The definition relates to the loss carry-forward provisions of that Act. It is not necessary for the provisions of the Act relating to State-owned enterprises to continue to apply once the Crown has sold its shares in the company.
Subsection (9) consequentially revokes the State-Owned Enterprises Order 1995 (SR 1995/250).