Telecommunications (Structural Separation—Approval of Asset Allocation Plan) Order 2011

2011/302

Coat of Arms of New Zealand

Telecommunications (Structural Separation—Approval of Asset Allocation Plan) Order 2011

Rt Hon Dame Sian Elias, Administrator of the Government

Order in Council

At Wellington this 29th day of August 2011

Present:
Her Excellency the Administrator of the Government in Council

Pursuant to section 36 of the Telecommunications (TSO, Broadband, and Other Matters) Amendment Act 2011, Her Excellency the Administrator of the Government makes the following order acting—

  • (a) on the advice and with the consent of the Executive Council; and

  • (b) on the recommendation of the Minister for Communications and Information Technology made in accordance with section 34 of that Act.

Order

1  Title
  • This order is the Telecommunications (Structural Separation—Approval of Asset Allocation Plan) Order 2011.

2  Commencement
  • This order comes into force on 30 August 2011.

3  Interpretation
4  Asset allocation plan approved
  • The asset allocation plan entitled Telecom Corporation of New Zealand Limited Asset Allocation Plan Section 32 Telecommunications (TSO, Broadband and Other Matters) Amendment Act 2011 submitted, under section 32 of the Act, by Telecom to the Minister for Communications and Information Technology on 25 July 2011 and the Commerce Commission on 26 July 2011 is approved.

Rebecca Kitteridge,
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 comes into force on 30 August 2011, approves an asset allocation plan prepared by Telecom Corporation of New Zealand Limited (Telecom) in accordance with the Telecommunications (TSO, Broadband, and Other Matters) Amendment Act 2011 (the Act).

Under that Act, the asset allocation plan must be prepared by Telecom as part of the preparation for the structural separation of Telecom and is required to set out how the assets and liabilities of Telecom are intended to be allocated between Telecom and Chorus (the other company involved in the separation), how those assets will be used to provide telecommunications services to the market after structural separation, and key terms of intended material sharing arrangements between the 2 companies.

The Governor-General's approval of the asset allocation plan, on the recommendation of the Minister for Communications and Information Technology, is a precondition for amendments to the Telecommunications Act 2001 concerning structural separation to come into force and the structural separation of Telecom to proceed.

The Act requires Telecom to make an overview of the asset allocation plan publicly available on its Internet site.


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

Date of notification in Gazette: 1 September 2011.

This order is administered by the Ministry of Economic Development.