Explanatory note

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

This order provides for Trans Power New Zealand Limited, a wholly owned subsidiary of Electricity Corporation of New Zealand Limited, to become a state enterprise.

Clause 2, which comes into force on 1 July 1994, adds the name of the company to Schedule 2 of the State-Owned Enterprises Act 1986. The addition of the name of the company to Schedule 2 will enable the Crown to acquire the shares in the company.

Clause 3, which comes into force on 2 July 1994, adds the name of the company to Schedule 1 of the State-Owned Enterprises Act 1986. The company will thus become a State enterprise under the Act on that date.

Clause 4, which comes into force on 2 July 1994, includes the name of the company in Part 2 of Schedule 1 of the Ombudsmen Act 1975. The company will thus become subject to that Act and to the Official Information Act 1982 on the same date.

Clause 5, which comes into force on 2 July 1994, includes the name of the company in Schedule 14 of the Income Tax Act 1976 (which Schedule relates to the grouping of tax losses).