New Zealand Railways Corporation Amendment Act 2010

1: Title
This Act is the New Zealand Railways Corporation Amendment Act 2010.
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: Principal Act amended
This Act amends the New Zealand Railways Corporation Act 1981 2010-08-06 New Zealand Railways Corporation Act 1981
4: Interpretation
Section 2(1) Minister Minister
5: Section 3 repealed
1: Section 3
2: The following provisions are consequentially amended by omitting Minister of Railways Minister
a: section 15(3)
b: section 119(1)
3: The heading to section 30 Minister of Railways Minister
6: New Zealand Railways Corporation
1: Section 4(3) to be the Chairman of the Corporation to be chairperson of the Corporation, and may appoint any other director to be deputy chairperson of the Corporation
2: Section 4
6: The Minister and the Minister of Finance may jointly, at any time and entirely at their discretion, remove any director from office.
3: Section 4
7: The deputy chairperson has and may exercise all the functions and powers of the chairperson if the chairperson is absent or otherwise unable to act. 2004 No 115 s 36(1) cl 5
7: Meetings of directors
1: Section 6(3) is amended by omitting the Chairman or any 4 directors the chairperson, or a majority of the directors,
2: Section 6(5) Chairman chairperson
3: Section 6(5) or she he
4: Section 6(6) Chairman is chairperson and deputy chairperson are
8: New section 7A inserted
The following section is inserted after section 7
7A: Indemnification and insurance
1: The Corporation may indemnify any director or employee, but only in respect of—
a: liability for conduct that comprises acts or omissions by the director or employee in good faith and in the performance or intended performance of the Corporation's functions; and
b: any costs incurred in defending or settling any claim or proceeding relating to liability for such conduct.
2: The Corporation may effect insurance cover for any director or employee, but only in respect of acts or omissions by the director or employee in good faith and in the performance or intended performance of the Corporation's functions. 2004 No 115 ss 122, 123
9: Grant of easements
1: Section 35(1) , and subject to revocation without compensation at any time when the service of the public requires it, and subject also to immediate revocation in case of the breach of any conditions under which the easement was granted:
2: Section 35(1)
3: Section 35(2) Without limiting subsection (1), the Corporation may grant any of the following easements, privileges, or concessions in respect of any railway land, subject to such conditions and payments of rent as it thinks fit:
4: Section 35(3) , including conditions as to revocation without compensation when the service of the public requires it, and such additional conditions as to revocation as the Corporation considers necessary
5: Section 35
6: This section continues to apply to any easement, privilege, or concession granted under it before the New Zealand Railways Corporation Amendment Act 2010 that Act
10: Capital of Corporation
1: Section 36(3) Governor-General on the advice of the Minister of Finance, may by Order in Council increase the capital of the Corporation to such an amount as may be prescribed in that order Minister of Finance may, by notice in the Gazette
2: Section 36(4) Governor-General on the advice of the Minister of Finance may, by Order in Council, decrease the capital of the Corporation to such amount as may be prescribed in that order Minister of Finance may, by notice in the Gazette
11: Sections 40 and 41 repealed
Sections 40 41