Plain language law

New Zealand law explained for everyone

Electricity Industry Act 2010

Miscellaneous - State-owned enterprise asset reconfiguration and miscellaneous matters - Asset reconfiguration provisions in respect of Waitaki Power Scheme

120: Purposes of sections 121 to 126

You could also call this:

“Explaining the reasons for rules about changing ownership of some power stations”

The law talks about some special rules for changing who owns parts of the Waitaki Power Scheme. These rules have two main goals. First, they help move the permits for Tekapo A and Tekapo B power stations from one company to another company called Genesis. Second, they make sure that even though Meridian won’t control the whole Waitaki Power Scheme anymore, some important things stay the same. These important things are the rules about how the power scheme affects the environment, the rights and responsibilities set out in the permits, and the agreements that were already in place. The law wants to keep these things the same, even though the ownership is changing.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3002221.

Topics:
Business > Industry rules Environment and resources > Climate and energy
Previous

119: Legal effect of directions, or

"Special rules for giving orders to government-owned power companies"

Next

121: Process for Meridian and Genesis to recommend changes to permit conditions in respect of Waitaki Power Scheme, or

"How Meridian and Genesis can ask for changes to Waitaki Power Scheme rules"

Part 5 Miscellaneous
State-owned enterprise asset reconfiguration and miscellaneous matters: Asset reconfiguration provisions in respect of Waitaki Power Scheme

120Purposes of sections 121 to 126

  1. The purposes of sections 121 to 126 are—

  2. to facilitate the transfer to Genesis of the permits in the Waitaki Power Scheme relating to the Tekapo A and Tekapo B generating stations; and
    1. to maintain, despite Meridian no longer controlling the entire Waitaki Power Scheme,—
      1. the conditions of the permits that relate to environmental effects; and
        1. the rights and obligations as specified in the conditions of the permits; and
          1. the rights and obligations as specified in the existing agreements referred to in section 123.

          OSZAR »