State-Owned Enterprises (Meridian Energy Limited) Vesting Order 2014

2014/84

Coat of Arms of New Zealand

State-Owned Enterprises (Meridian Energy Limited) Vesting Order 2014

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 24th day of March 2014

Present:
His Excellency the Governor-General in Council

Pursuant to section 28(1)(a) and (h) of the State-Owned Enterprises Act 1986 (as applied by section 45W of the Public Finance Act 1989), His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following order.

Order

1 Title
  • This order is the State-Owned Enterprises (Meridian Energy Limited) Vesting Order 2014.

2 Commencement
  • This order comes into force on the 28th day after the date of its notification in the Gazette.

3 Interpretation
4 Vesting of assets and liabilities in Meridian Energy Limited
  • (1) For the purpose of facilitating the transfer of the assets and liabilities to Meridian Energy Limited pursuant to the Act, the assets and liabilities are vested in Meridian Energy Limited.

    (2) To avoid doubt, the vesting under subclause (1) does not affect the status or effect of the deed, either before or after this order comes into force.

5 Registration
  • (1) For the purpose of facilitating the transfer of the assets and liabilities to Meridian Energy Limited pursuant to the Act, the Registrar is directed to—

    • (a) register the deed; and

    • (b) incorporate a copy of the deed into the register; and

    • (c) do all other things necessary to facilitate the registration of the deed.

    (2) To avoid doubt, subclause (1) applies despite the fact that—

    • (a) the Registrar may not otherwise have the power to register the deed; or

    • (b) the deed may not otherwise be registrable.


Schedule 
Description of deed pursuant to section 23(1)(c) of State-Owned Enterprises Act 1986

cl 3

The Deed of Grant of Right of Way Easement—Lake Ohau Terminal Moraine Scenic Reserve, dated 26 January 2012 and granted pursuant to section 23(1)(c) of the State-Owned Enterprises Act 1986 by the Minister of Finance and the Minister for State Owned Enterprises to Meridian Energy Limited on the terms set out in the deed, in respect of the following land in the Canterbury Land Registry:

  • (a)the easement land, being the Ohau Terminal Moraine Scenic Reserve, being that part of Reserve 4023 comprising an area of 76.0841 ha, as otherwise being the balance land (Gazette 1920, p 2268) and classified as scenic reserve (Gazette 1994, p 1911):

  • (b)the right of way area, being that part of the easement land shown as area A on SO 394354.

Michael Webster,
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 the 28th day after the date of its notification in the Gazette, is required for the purpose of facilitating the transfer of certain assets and liabilities from the Crown to Meridian Energy Limited (Meridian) under the State-Owned Enterprises Act 1986 (the Act). Certain provisions of the State-Owned Enterprises Act 1986 continue to apply to Meridian as a mixed ownership model company, despite it ceasing to be a State enterprise, under section 45W of the Public Finance Act 1989.

The assets and liabilities are those that were the subject of a grant made by way of a deed (being a deed granting easements) entered into by the Crown and Meridian under section 23(1)(c) of the Act. The combined effect of the grant and the vesting of the assets and liabilities under this order is to complete the transfer of the assets and liabilities to Meridian, and to enable registration of the deed to take place.

Clause 4(1) vests the assets and liabilities in Meridian. Clause 4(2) provides that, to avoid doubt, the vesting under clause 4(1) does not affect the status or effect of the deed, either before or after this order comes into force.

Clause 5(1) directs the Registrar-General of Land to register the deed. This provision is necessary because the assets and liabilities relate to interests in Crown land, and may not otherwise be registrable. Clause 5(2) provides that, to avoid doubt, clause 5(1) applies despite the fact that the Registrar may not otherwise have the power to register the deed or that the deed may not otherwise be registrable.


Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 27 March 2014.

This order is administered by the Treasury.