New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) In this notice, unless the context otherwise requires,—
Act means the Securities Act 1978
communal facilities means the following facilities that are, or at the completion of the development will be, owned, leased, licensed, maintained, administered, or operated in whole or in part by the Society:
(a) any land or any right over, or interest in, land within the development designated by a developer or the Society for use by owners or occupiers of developed properties, by invitees, or by certain classes of those persons:
(b) buildings, chattels, fixtures, fittings, plant, equipment, and other amenities within the development designated by a developer or the Society for use by owners or occupiers of developed properties, by invitees, or by certain classes of those persons:
(c) utilities
computer register means—
(a) a computer register within the meaning of section 4 of the Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002; or
(b) a certificate of title issued under the Land Transfer Act 1952
controlling member means the controlling member of the Society in accordance with the rules
developed property means a property within the development for which a computer register has been or will be issued or created as part of the process of development for an estate in fee simple under the Land Transfer Act 1952
developer—
(a) means SADE Developments No 2 Limited; and
(b) includes any assignee or successor in title of SADE Developments No 2 Limited (in whole or in part) that continues the promotion and carrying out of the development
development means the development undertaken by the developer within the area of Savannah Bay of the property contained in the following certificates of title:
(a) Lot 1 Deposited Plan 378264, identifier 313610; and
(b) Lot 2 Deposited Plan 378264, identifier 313611; and
(c) Lot 3 Deposited Plan 378236, identifier 313612
farm park means such portion of the communal facilities as is leased from the Society to another person for the purposes of operating a commercial farm consisting of approximately 212 hectares of the property referred to in the definition of development
incorporation member means a person who—
(a) was a member of the Society on its incorporation; but
(b) is not an owner of a developed property
lease, in relation to the lease by the Society of communal facilities that are land, means lease pursuant to a memorandum of lease registered under the Land Transfer Act 1952
lease agreement means the contract or agreement for the lease of the farm park from the Society by another person
offer means the offer of specified securities to the public
owner of a developed property means a registered proprietor of a fee simple estate in a developed property
Regulations means the Securities Regulations 1983
rules means the rules of the Society
sale agreement means an agreement for the sale of a fee simple estate in a developed property adopted or entered into by the developer as vendor
Society means the Savannah Bay Association Incorporated, a society incorporated under the Incorporated Societies Act 1908
specified security means a participatory security in the form of membership of the Society
utilities means the following utilities and services:
(a) access over any roading within the development (including public or private access roads connecting to any highway, road, or access way):
(b) gas and drainage reticulation connecting 1 or more developed properties to any gas supply, sewage treatment plant, or disposal system:
(c) waste water and storm water disposal systems:
(d) service lines connecting 1 or more developed properties to appropriate supply networks:
(e) domestic and irrigation water supply reticulation connecting 1 or more developed properties to any water supply system (including storage tanks and treatment facilities):
(f) any other utilities or services ancillary to the use of developed properties or the development by owners or occupiers of developed properties, by invitees, or by certain classes of those persons.
(2) In this notice, unless the context otherwise requires, a reference to the completion of the development is a reference to the time when—
(a) all of the physical works in connection with the development have been completed; and
(b) all relevant computer registers for developed properties have been issued or created; and
(c) all required code compliance certificates for the development have been issued under the Building Act 2004.
(3) Any term or expression that is defined in the Act or the Regulations and used, but not defined, in this notice has the same meaning as in the Act or the Regulations.