New Zealand Acts

COMMERCE ACT 1986 - SECT 54X

54X Savings provision for existing levy regulations for electricity lines businesses

1 Any regulations made pursuant to section 57ZK before the repeal of Part 4A continue to apply to each person who is a large line owner in respect of every financial year that precedes the first financial year to which levy regulations made under section 53ZE apply to that supplier.

2 Subsection (1) applies as if—

a) references in those regulations to the Commission's costs included references to the costs of exercising and performing the Commission's powers, duties, and functions under this Part, and enforcing the obligations under this Part, in respect of those persons, and with all other necessary modifications; and

b) terms used in subsection (1) have the same meaning as they do in those regulations.

History: Section 54X: inserted, on 1 April 2009, by section 4 of the Commerce Amendment Act 2008 (2008 No 70).