Export Guarantee Act 1964

1: Short Title
This Act may be cited as the Export Guarantee Act 1964.
2: Interpretation
In this Act, unless the context otherwise requires,— financial year General Manager Minister the Office Section 2 Committee repealed 20 November 1989 Export Guarantee Amendment Act 1989 Section 2 General Manager substituted 28 June 1990 section 2(1) Export Guarantee Amendment Act 1990 Section 2 Minister substituted 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
3: Export Guarantee Office
There shall be an Office to be called the Export Guarantee Office which, under the control of the Minister, shall be charged with the administration of this Act and with such other functions as may from time to time be lawfully conferred on it.
4: General Manager
The administrative head of the Office shall be the General Manager who shall be the person for the time being holding office as Secretary to the Treasury. Section 4 substituted 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
5: General Manager constituted corporation sole
The General Manager is hereby constituted a corporation sole under the style of The Export Guarantee General Manager
6: Administration
1: The Treasury shall, on behalf of the Export Guarantee Office, exercise such functions and perform such duties as may be necessary for the administration of this Act or as the Minister may direct.
2: The General Manager may from time to time allocate to any employee of the Treasury such duties and functions in connection with the administration of the Export Guarantee Office as the General Manager thinks fit and, while any such employee is acting pursuant to any such allocation, that employee shall be deemed for the purpose of this Act to be an employee of the Export Guarantee Office. Section 6 substituted 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
7: General functions of Office
1: The Office, under the control of the General Manager, is authorised for the purpose of promoting the export trade of New Zealand, to undertake the following activities:
a: providing to persons carrying on business in New Zealand insurance against the loss arising from all or any of the following causes:
i: the non-payment, in whole or in part, for goods supplied or services provided beyond New Zealand:
ii: the frustration or other failure of any contract or other transaction in respect of the supply of goods or the provision of services beyond New Zealand:
iii: the payment of expenses necessary to complete any contract or other transaction in respect of the supply of goods or the provision of services beyond New Zealand:
iv: any loss, due to any cause not referred to in any of the foregoing provisions of this paragraph, arising out of, or in the course of, the export or the development of the export of particular goods or services from New Zealand:
b: guaranteeing a banker or other lender repayment, in whole or in part, of any amount advanced by the banker or other lender to facilitate the export from New Zealand of particular goods or services pursuant to any transaction in respect of which the Office may enter into a contract of insurance under this Act:
c: providing services for the purposes of avoiding or mitigating any loss against which the Office may insure.
2: The Office may carry out such other activities as may be authorised by this Act or otherwise. Section 7 substituted 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
8: Determination of policy of Office
1: The Minister shall from time to time determine the classes of risks that shall be the subject of contracts entered into by the Office and the nature and extent of any service to be provided by the Office under paragraph (c) of subsection section 7 provided that, in the exercise of the powers conferred on him by this section, the Minister shall have regard to the general policy of the Government, as communicated to him by the Minister of Foreign Affairs and Trade
2: The General Manager shall comply with any general or special directions given in writing by the Minister for the purpose of giving effect to the provisions of subsection (1) provided that nothing in this subsection shall—
a: authorise the Minister to give directions with respect to any contract made or proposed to be made with a particular person; or
b: authorise the Minister to give directions in respect of any matter not within the functions of the Office; or
c: affect the validity of any contract entered into with the General Manager.
3: Without limiting the provisions of subsection (2), the Minister may from time to time give directions, in accordance with that subsection, as to the maximum percentage of loss which the Office may assume in respect of any class of contract entered into under this Act. Section 8(1) amended 1 August 1990 Export Guarantee Amendment Act (No 2) 1990 Section 8(1) amended 1 July 1993 section 6(1) Foreign Affairs Amendment Act 1993
9: Powers of General Manager
1: The General Manager may from time to time enter into, perform, and enforce contracts which may be lawfully made for the purpose of carrying out the functions of the Office, and generally do whatever he considers necessary in connection with, or incidental to those functions.
2: The General Manager shall not enter into contracts of insurance under this section in respect of any class of risk to which paragraph (a) of subsection (1) of section 7
3: Any contract entered into by the General Manager under this section shall be subject to such terms and conditions and shall provide for the payment of such premiums or charges as the General Manager in his discretion thinks fit.
4: In the exercise of his powers under this Act, the General Manager shall endeavour to secure revenue sufficient to meet the expenditure of the Office properly chargeable to revenue but shall not be concerned to make a profit from transactions entered into on behalf of the Office.
5: Subject to the provisions of this Act, the General Manager shall, for the purposes of exercising his powers under this Act and carrying out the functions of the Office, have all the powers, duties, liabilities, and discretions conferred on the General Manager of the State Insurance Office by sections 9, 10, and 17 of the State Insurance Act 1963 and, for the purposes of this Act, the provisions of those sections, as far as they are applicable and with the necessary modifications, shall apply accordingly.
9A: Power to sell business and property
Notwithstanding section 7 Section 9A inserted 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
10: Contracts in national interest
Section 10 repealed 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
11: General Manager may delegate powers and functions
1: The General Manager may from time to time, by writing under his hand delegate to any employee of the Office all or any of his functions, powers, authorities, discretions, rights, and duties, whether under this or any other Act or otherwise howsoever, including any functions, powers, authorities, rights, and duties, delegated to him under any enactment or vested in him by virtue of any policy, instrument, or document of whatsoever nature: provided that the General Manager shall not delegate any power delegated to him under the State Sector Act 1988 State Services Commissioner
2: The provisions of subsections (2) to (6) of section 8 of the State Insurance Act 1963 shall apply to any delegation under this section and, for the purposes of this section, those subsections shall be read as if all references therein to the General Manager of the State Insurance Office were references to the General Manager of the Export Guarantee Office. Section 11(1) amended 19 December 1989 section 33(1) State Sector Amendment Act (No 2) 1989 Section 11(1) amended 1 April 1988 section 90(a) State Sector Act 1988
11A: General Manager may appoint agent
1: The General Manager may, from time to time, appoint a person as agent for the General Manager for the purpose of exercising any of the powers of the General Manager under this Act or any other Act. Any such appointment shall be on such terms and conditions (including conditions as to the payment of fees) as shall be agreed.
2: For the purposes of subsection (1), the General Manager may pay out of the Export Guarantee Account to an agent appointed under that subsection such amounts as the General Manager considers necessary for the administration of policies of insurance, the discharge of liabilities, and the general conduct of insurance business by the agent on behalf of the General Manager.
3: Amounts paid to an agent of the General Manager under subsection (2) shall be held by the agent on behalf of the General Manager. Section 11A inserted 1 August 1990 Export Guarantee Amendment Act (No 2) 1990
12: Advisory Committee
Section 12 repealed 20 November 1989 Export Guarantee Amendment Act 1989
13: Chairman of Committee
Section 13 repealed 20 November 1989 Export Guarantee Amendment Act 1989
14: Extraordinary vacancies
Section 14 repealed 20 November 1989 Export Guarantee Amendment Act 1989
15: Deputies of members
Section 15 repealed 20 November 1989 Export Guarantee Amendment Act 1989
16: Meetings of Committee
Section 16 repealed 20 November 1989 Export Guarantee Amendment Act 1989
17: Functions of Committee
Section 17 repealed 20 November 1989 Export Guarantee Amendment Act 1989
18: Fees and travelling allowances
Section 18 repealed 20 November 1989 Export Guarantee Amendment Act 1989
19: Contracts by General Manager
Subject to the provisions of section 10
a: where the contract or the exercise of the power is required to be by deed or in writing under seal, it shall be exercised in writing under the seal of the General Manager and signed by him with his personal name with the addition of his corporate style in the presence of 1 or more witnesses:
b: where the contract or exercise of the power is required to be in writing but is not required to be by deed or in writing under seal, it shall be signed by the General Manager in his personal name with the addition of his corporate style:
c: any delegation under section 11
20: Officers and agents not personally liable
Neither the General Manager, nor any other officer, employee, agent, or representative of the Office, shall in the absence of fraud or unless the act or omission amounts to an offence, be personally liable in respect of any act or thing done or omitted to be done by him in the exercise, or bona fide purported exercise, of any authority conferred by or pursuant to this Act.
21: Financial provisions
1: Subject to this Act, all money belonging to the Office shall be held in an account to be called the Export Guarantee Account with the Reserve Bank or any registered bank.
2: If at any time the money held in the Export Guarantee Account is insufficient to discharge the liabilities of the Office, the Minister of Finance shall, on such terms and conditions as he or she thinks fit and without further appropriation than this section, pay the amount of the deficiency out of a Crown Bank Account Section 21 substituted 28 June 1990 section 5 Export Guarantee Amendment Act 1990 Section 21(2) amended 25 January 2005 section 65R(3) Public Finance Act 1989
21A: Investments
All money belonging to the Office may from time to time be invested—
a: in Government securities:
b: on deposit with a registered bank:
c: in any manner, or in securities, that may from time to time be authorised by the Minister of Finance. Section 21A inserted 28 June 1990 section 5 Export Guarantee Amendment Act 1990
21B: Auditor-General to be auditor of Export Guarantee Office
The Export Guarantee Office is a public entity as defined in section 4 Section 21B substituted 1 July 2001 section 53 Public Audit Act 2001
22: Annual report and accounts
1: As soon as reasonably practicable after the end of each financial year, the General Manager shall prepare a statement of financial position
2: A copy of the report, and of the accounts and statement of financial position Auditor-General Section 22(1) amended 1 October 1997 section 6(1) Financial Reporting Amendment Act 1997 Section 22(2) amended 1 July 2001 section 52 Public Audit Act 2001 Section 22(2) amended 1 October 1997 section 6(1) Financial Reporting Amendment Act 1997
23: Exemption from taxation
The Office shall be exempt from the payment of income tax, including social security income tax.
24: Consequential amendment
Section 24 repealed 26 June 1975 section 33(1) Ombudsmen Act 1975
25: Regulations
The Governor-General may from time to time, by Order in Council, make regulations providing for such matters as are contemplated by or necessary for giving effect to the provisions of this Act and for the due administration thereof.