This note is not part of the order, but is intended to indicate its general effect.

This order brings into force, on 20 March 1998, sections 32, 33, 34, and 35 of the Southland Electricity Act 1993. The coming into force of these sections arises from the Crown gifting its shares in The Power Company Limited to the Southland Electric Power Supply Consumer Trust on 1 January 1998.

Section 32 of the Southland Electricity Act 1993 omits from Part 2 of Schedule 1 of the Ombudsmen Act 1975 reference to The Power Company Limited. The company will thus cease to be subject to that Act on 20 March 1998.

Section 33 of that Act omits from Schedule 18 of the Income Tax Act 1994 reference to The Power Company Limited. The company will thus cease to be named as a State-owned enterprise in that schedule on 20 March 1998.

Schedule 18 contains a list of State-owned enterprises. Under section CB 3(a) of that Act, the incomes of public authorities are exempt from tax. That exemption does not apply to State-owned enterprises.

State-owned enterprises are also special corporate entities for the purposes of the definition of that term in section OB 1 of that Act. The definition relates to the loss carry forward and grouping provisions.

As a result of the disposition by the Crown of its shares in The Power Company Limited, it is no longer necessary for the company to be listed in Schedule 18.

Section 34 of that Act omits from Schedule 1 of the Official Information Act 1982 reference to The Power Company Limited. The company will thus cease to be subject to that Act on 20 March 1998.

Section 35 of that Act omits from Schedules 4 and 6 of the Public Finance Act 1989 reference to The Power Company Limited. The company will thus cease to be a Crown entity subject to that Act on 20 March 1998.