New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) An account holder or proposed account holder—
(a) who is an individual—
(i) may appoint at least 1 but no more than 5 primary representatives (including the account holder if the account holder elects to operate the holding account) to operate the holding account on the account holder's behalf; but
(ii) must, at all times, have at least 1 person who is authorised to operate the account holder's account (which person may be either the holding account holder or a primary representative):
(b) that is not an individual must appoint at least 1 but no more than 5 primary representatives to operate the holding account on the account holder's behalf.
(2) An account holder or a proposed account holder may appoint a primary representative by submitting a request to appoint a primary representative via the Registry's Internet site.
(3) For the purposes of subclause (2), the account holder or proposed account holder must provide the following information:
(a) the name of the holding account; and
(b) the account number (if any); and
(c) the primary representative's—
(i) full legal name; and
(ii) registry user name; and
(iii) physical address for service in New Zealand; and
(iv) postal address; and
(v) telephone number; and
(vi) email address; and
(vii) if there are already 5 primary representatives in respect of the account holder's holding account, the full legal name and registry user name of the primary representative who is to be replaced.
(4) The Registrar may not register the appointment of a primary representative unless the Registrar has received a declaration signed by the account holder or the proposed account holder that contains a statement that—
(a) the person identified in the request as the primary representative—
(i) has been appointed by the account holder or the proposed account holder; and
(ii) is an individual and a qualified person; and
(iii) is authorised to operate the holding account on behalf of the account holder or proposed account holder; and
(b) the information provided by the account holder or proposed account holder is true and accurate.
(5) The acts of a primary representative via the Registry's Internet site with respect to the operation of an account holder's holding account and the recording of possession are binding on the account holder.
(6) To avoid doubt, a primary representative may not make a declaration required under these regulations.
Regulation 15(1)(a)(i): amended, on 8 December 2009, by section 88(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Regulation 15(1)(b): amended, on 8 December 2009, by section 88(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Regulation 15(3)(c)(vii): amended, on 8 December 2009, by section 88(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
