New Zealand Legislation: Regulations

3 Interpretation

• In these regulations, unless the context otherwise requires,—

  account holder means a qualified person who holds, individually or jointly, a holding account

  Act means the Climate Change Response Act 2002

  crime involving dishonesty means—

  • (a) any crime specified in Part 10 of the Crimes Act 1961 other than the crimes specified in sections 267 to 272 of that Act; and

  • (b) any equivalent crime under the law of a jurisdiction other than New Zealand

  Crown holding account—

  • (a) means a holding account that is—

    • (i) held on behalf of the Crown by the direction of the Minister of Finance under section 6 of the Act; and

    • (ii) administered by the Registrar for the purposes of meeting New Zealand's obligations under the Convention or the Protocol; and

  • (b) excludes a holding account held by a government agency or Crown entity in its own right for the purposes of meeting its business or corporate objectives

  qualified person means a person—

  • (a) whose name has been entered on a register kept for the purposes of section 56 or 57 of the Act; or

  • (b) who is entitled to receive, or who has received, an allocation of New Zealand units free of charge in accordance with an allocation plan; or

  • (c) who, if an individual,—

    • (i) is 18 years of age or older; and

    • (ii) is not—

      • (A) an undischarged bankrupt; or

      • (B) subject to a property order under the Protection of Personal and Property Rights Act 1988; or

      • (C) subject to a personal order under the Protection of Personal and Property Rights Act 1988 that reflects adversely on the person's competence to manage his or her own affairs in relation to his or her property or capacity to make or to communicate decisions relating to any particular aspect or aspects of his or her personal care or welfare; or

      • (D) prohibited from being a director or promoter of, or being concerned or taking part in the management of, a company under section 382, 383, or 385 of the Companies Act 1993; or

      • (E) a person who has been convicted of an offence under any of sections 377 to 380 of the Companies Act 1993 or a crime involving dishonesty; or

      • (F) a person who is prohibited from being a director or promoter of, or being concerned or taking part in the management of, an incorporated or unincorporated body under the Securities Act 1978, the Securities Markets Act 1988, or the Takeovers Act 1993; or

      • (G) a person to whom a provision that is, under the law of a jurisdiction other than New Zealand, equivalent to any of the provisions specified in subsubparagraphs (A) to (F) applies; or

  • (d) who, if not an individual,—

    • (i) is—

      • (A) a New Zealand entity established, registered, or incorporated in New Zealand in accordance with the laws of New Zealand; or

      • (B) an Australian company established, registered, or incorporated in Australia in accordance with the laws of Australia; or

      • (C) an overseas company, including an Australian company, registered in New Zealand in accordance with the Companies Act 1993; and

    • (ii) is not an entity that—

      • (A) has been, or is being, wound up; or

      • (B) is in liquidation; or

      • (C) is subject to statutory management under the Corporations (Investigation and Management) Act 1989; or

      • (D) has a director or an officer who is not qualified to open a holding account; or

      • (E) has a shareholder who holds more than a simple majority of the shares in the entity and is not qualified to open a holding account; or

      • (F) has been convicted of an offence under any of sections 377 to 380 of the Companies Act 1993 or a crime involving dishonesty; and

    • (iii) is not, under the law of a jurisdiction other than New Zealand, an entity that—

      • (A) is subject to management equivalent to statutory management under the Corporations (Investigation and Management) Act 1989; or

      • (B) has been convicted of an offence equivalent to an offence under any of sections 377 to 380 of the Companies Act 1993 or a crime involving dishonesty

  Registrar means the Registrar appointed under section 11 of the Act

  registry user name means a unique identifier personal to an individual and obtained via the Registry's Internet site

  unit register means the register specified in section 18 of the Act.