Hon David Parker
Government Bill
191—2
As reported from the Commerce Committee
Commentary
Key
1 Title
2 Commencement
Part 1Amendments to principal Act
3 Principal Act amended
4 Purpose
5 Interpretation
6 Sections 4 and 5 repealed
7 New sections 6 to 7A substituted
6 Meaning of business A and business B
7 Meaning of involved
7A How to measure involvement
7A Meaning of material influence
7B Meaning of associate
8 New headings and sections 17 to 17F substituted
Ownership separation
17 Ownership restrictions
Connected generation and connected customers selling caps
17A Connected generation cap rule
17B Small or encouraged connected generation
17C Connected customers selling cap rule
Corporate separation and arm’s-length rules
17D Threshold for corporate separation and arm's-length rules
17E Corporate separation and arm’s-length rules imposed
Use-of-systems agreements rules for businesses with 5 MW or more of connected generation
17EA Use-of-systems agreements rules for businesses with 5 MW or more of connected generation
Exemption for Transpower
17F Exemption for Transpower New Zealand Limited for purpose of deferring investment in national grid
9 Section 18 repealed
10 New heading above section 19 substituted
11 Certain businesses and involvements to be disregarded
12 Sections 22 to 46C and headings repealed
13 Inadvertent contraventions
14 Court may order divestiture of assets or voting securities
15 Application of Commerce Act 1986 and Crown Entities Act 2004 provisions
16 Part 4 repealed
17 Disclosure regime
18 New sections 70A and 70B inserted
70A Disclosure as to electricity sold to connected customers within local network area
70B Directors must report compliance with arm’s-length rules
19 Sections 71 to 79 and heading above section 71 repealed
20 Not interconnected under Commerce Act 1986
21 Sections 84 and 85 repealed
22 Regulations
22A Part 7 repealed
23 Part 8 repealed
24 Schedule 1 amended
24 Schedule 1 substituted
Part 2Amendments to other Acts and transitional provision
25 Consequential amendments to Commerce Act 1986
26 New sections 57DAA and 57DAAB inserted
57DAA Meaning of electricity lines business
57DAAB Meaning of electricity supply business
27 Consequential amendment to Electricity Act 1992
28 Saving of existing exemptions
Schedule New Schedule 1 substituted
Legislative history
The Parliament of New Zealand enacts as follows: