Housing Corporation Act 1974

1: Short Title and commencement
1: This Act may be cited as the Housing Corporation Act 1974.
2: This Act shall come into force on a date to be appointed by the Governor-General by Order in Council. Section 1(2) brought into force 14 October 1974 Housing Corporation Act Commencement Order 1974
1A: Purpose
The purpose of this Act is to—
a: establish a corporation to administer the Crown's housing operations; and
b: define its objectives, functions, powers, and duties. Section 1A inserted 1 July 2001 section 3 Housing Corporation Amendment Act 2001
2: Interpretation
In this Act, unless the context otherwise requires,— annual financial statements section 154 approved securities
a: the bonds, stock, debentures, funds, or other securities of the Government of New Zealand; or
b: any other securities that are for the time being approved by the Minister for the purposes of this Act Corporation section 3(1) Crown entity subsidiary the second column of section 7(1)﻿(c) existing company
a: means HNZ or Community Housing Limited (a company that on the commencement of the Housing Corporation Amendment Act 2001 Companies Act 1993
b: includes any subsidiary (within the meaning of the Companies Act 1993 HNZ section 2(1) and Tenancy Matters land Minister of Finance of Housing Minister of Housing property and any security security solicitor Lawyers and Conveyancers Act 2006 statement of intent section 139 statement of performance expectations section 149C subsidiary Companies Act 1993 vesting day
a: in relation to an existing company or an asset or liability of an existing company, means the day on which the order under section 53
b: in relation to an asset or liability of the Crown, means the day on which an order under section 53 1965 No 47 s 2 Section 2 annual financial statements inserted 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 2 appointed member repealed 8 August 1991 section 2(1) Housing Corporation Amendment Act 1991 Section 2 committee repealed 25 January 2005 section 200 Crown Entities Act 2004 Section 2 Corporation replaced 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 Crown entity subsidiary inserted 25 January 2005 section 200 Crown Entities Act 2004 Section 2 Crown entity subsidiary amended 18 July 2013 section 42 Crown Entities Amendment Act 2013 Section 2 Director-General repealed 1 May 1993 Housing Corporation Amendment Act 1992 Section 2 existing company inserted 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 HNZ inserted 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 HNZ amended 1 July 2006 section 5(2)﻿(b) Housing Restructuring and Tenancy Matters (Information Matching) Amendment Act 2006 Section 2 land replaced 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 Minister replaced 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 Minister of Housing inserted 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 property amended 8 August 1991 Housing Corporation Amendment Act 1991 Section 2 security inserted 8 August 1991 section 2(3) Housing Corporation Amendment Act 1991 Section 2 solicitor replaced 1 August 2008 section 348 Lawyers and Conveyancers Act 2006 Section 2 State Services Commissioner repealed 8 September 2018 section 59 Statutes Amendment Act 2018 Section 2 statement of intent inserted 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 statement of intent amended 25 January 2005 section 200 Crown Entities Act 2004 Section 2 statement of performance expectations inserted 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 2 subsidiary inserted 1 July 2001 section 4 Housing Corporation Amendment Act 2001 Section 2 vesting day inserted 1 July 2001 section 4 Housing Corporation Amendment Act 2001
2A: Act binds the Crown
This Act binds the Crown. Section 2A inserted 25 February 2016 section 4 Housing Corporation (Social Housing Reform) Amendment Act 2016
1: Housing New Zealand Corporation Part 1 heading amended 1 July 2001 section 5(3) Housing Corporation Amendment Act 2001
3: Establishment of Corporation
1: There is hereby established Housing New Zealand Corporation
2: The Corporation is a Crown entity for the purposes of section 7
2A:
3: The Crown Entities Act 2004
5: 1965 No 47 ss 3(1), (2) 4(1), (7) Section 3(1) amended 1 July 2001 section 5(1) Housing Corporation Amendment Act 2001 Section 3(2) replaced 25 January 2005 section 200 Crown Entities Act 2004 Section 3(2A) repealed 1 July 2001 section 5(2) Housing Corporation Amendment Act 2001 Section 3(3) replaced 25 January 2005 section 200 Crown Entities Act 2004 Section 3(5) repealed 25 January 2005 section 200 Crown Entities Act 2004
3AA: Membership of Corporation
1: The Corporation must have at least 2, but no more than 8, members appointed under section 28(1)﻿(a)
2: A person who is employed by a department of State responsible for advising the Minister on the Corporation's performance is disqualified from being a member.
3: Subsection (2) does not limit section 30
4: Members of the Corporation are the board for the purposes of the Crown Entities Act 2004 Section 3AA inserted 25 January 2005 section 200 Crown Entities Act 2004
3A: Corporation to have Tenancy Bond Division
Section 3A repealed 18 August 1992 Housing Corporation Amendment Act 1992
3B: Objectives of Corporation
The Corporation's objectives are—
a: to give effect to the Crown's social objectives by providing housing, and services related to housing, in a businesslike manner, and to that end to be an organisation that—
i: exhibits a sense of social responsibility by having regard to the interests of the community in which it operates; and
ii: exhibits a sense of environmental responsibility by having regard to the environmental implications of its operations; and
iii: operates with good financial oversight and stewardship, and efficiently and effectively manages its assets and liabilities and the Crown's investment
b: but see section 50J Part 5A
c: Section 3B inserted 1 July 2001 section 6 Housing Corporation Amendment Act 2001 Section 3B(a)﻿(iii) amended 28 May 2015 section 4(1) Housing Corporation (Social Housing Reform) Amendment Act 2015 Section 3B(b) inserted 25 February 2016 section 5 Housing Corporation (Social Housing Reform) Amendment Act 2016 Section 3B(c) repealed 6 August 2010 section 6(2)﻿(b) Affordable Housing: Enabling Territorial Authorities Act Repeal Act 2010
3C: Communication of the Crown's social objectives
1: To enable the Corporation to achieve the objective stated in section 3B(a) or review 3 months
2: Each of the Corporation's statements of performance expectations
a: the objectives most recently notified by the Minister; and
b: the steps that the group comprising the Corporation and any Crown entity
3: Nothing in subsections (1) and (2) limits or affects sections 141 149E section 20 Section 3C inserted 1 July 2001 section 6 Housing Corporation Amendment Act 2001 Section 3C(1) amended 18 July 2013 section 42 Crown Entities Amendment Act 2013 Section 3C(2) amended 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 3C(2)﻿(b) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 3C(3) amended 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 3C(3) amended 25 January 2005 section 200 Crown Entities Act 2004
3D: Other provisions relating to Corporation
Schedule 1A Section 3D inserted 1 July 2001 section 6 Housing Corporation Amendment Act 2001
4: Offices of Corporation
Section 4 repealed 25 January 2005 section 200 Crown Entities Act 2004
5: Director-General of Corporation
Section 5 repealed 1 May 1993 Housing Corporation Amendment Act 1992
6: Deputies
Section 6 repealed 19 December 1989 section 32(1) State Sector Amendment Act (No 2) 1989
7: Members to hold office during pleasure
Section 7 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
8: Disqualification of members
Section 8 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
9: Vacancies
Section 9 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
10: Meetings of Corporation
Section 10 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
11: Disclosure of interests
Section 11 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
12: Remuneration of members
Section 12 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
13: Employees
Section 13 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
14: Contracts of Corporation
Section 14 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
15: Execution of documents on behalf of Corporation
Section 15 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
16: Committees
Section 16 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
17: Delegation of functions or powers of Corporation
Section 17 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
2: Functions and powers of Corporation
18: Functions of Corporation
1: The Corporation's principal function is to achieve its objectives.
2: The Corporation's functions include—
a: providing rental housing, principally for those who need it most:
b: providing appropriate accommodation, including housing, for community organisations (in particular for community organisations that provide residential support services for people with special needs):
c: lending for housing purposes, and providing other help relating to housing:
d: giving people (in particular people on low or modest incomes who wish to own their own homes) help and advice on matters relating to housing or services related to housing:
e: undertaking housing and other development and renewal, whether on its own account or on behalf of other persons:
f: acquiring and developing land for housing or other development and renewal, whether by—
i: providing housing amenities, facilities, services, or works; or
ii: providing commercial or industrial amenities, facilities, services, or works; or
iii: providing related amenities, facilities, services, or works; or
iv: doing any other thing:
g: selling, leasing, disposing of, managing, or otherwise dealing with land, whether in the course of housing or other development and renewal or otherwise:
h: providing housing or services related to housing as agent for departments of State or Crown entities:
i: taking action, in relation to or in connection with the provision of housing or services related to housing, provided for in—
i: the Corporation's current statement of intent; or
ii: a notice or agreement under section 20
iii: a plan under section 20A
j: conducting research into, and monitoring trends in, housing and services related to housing (but not for the purpose of advising the Minister of Housing on those matters)
k:
l: any other functions conferred on it by this Act or any other enactment.
3: In performing any of its functions, the Corporation may consult any person or organisation whose views or knowledge it believes will enhance its performance of the function.
4: Subsection (2) does not limit subsection (1). Section 18 replaced 1 July 2001 section 7 Housing Corporation Amendment Act 2001 Section 18(2)﻿(j) amended 28 May 2015 section 5(1) Housing Corporation (Social Housing Reform) Amendment Act 2015 Section 18(2)﻿(k) repealed 28 May 2015 section 5(2) Housing Corporation (Social Housing Reform) Amendment Act 2015
19: Powers of Corporation
1:
1A: The Corporation may take any action in the performance of its functions or achievement of its objectives jointly, or in conjunction, with—
a: a local authority; or
b: any other person or organisation that provides housing without having profit or gain as its principal motive; or
c: any other person or organisation.
1B: Subsection (1A) does not limit section 17
2:
3: Nothing in this section or in section 18
4: Without limiting section 17
a: act as an agent for the Crown, or for any Government department, or for any other person or body, and in return for such services charge any fees or other remuneration that may be agreed on between the Corporation and the principal; and
b:
c: acting through a solicitor, or through a person acting under the supervision of a solicitor, draw or prepare for or on behalf of any other person—
i: any conveyance within the meaning of the Property Law Act 2007
ii: any deed within the meaning of the Property Law Act 2007
iii: any tenancy agreement or lease, or any agreement evidencing any tenancy or lease— and may provide any legal advice or legal services attendant upon any such work, and in return for such work, advice, or services may charge any fees or other remuneration that may be agreed on between the Corporation and the person for or on behalf of whom it is acting.
5: The Corporation, in acting for any principal, may with the agreement and on behalf of the principal make any investment in the name of the Corporation.
6: 1965 No 47 ss 16 22 Section 19(1) repealed 25 January 2005 section 200 Crown Entities Act 2004 Section 19(1A) inserted 1 July 2001 section 8(1) Housing Corporation Amendment Act 2001 Section 19(1B) inserted 25 January 2005 section 200 Crown Entities Act 2004 Section 19(2) repealed 1 July 2001 section 8(1) Housing Corporation Amendment Act 2001 Section 19(4) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 19(4)﻿(b) repealed 25 January 2005 section 200 Crown Entities Act 2004 Section 19(4)﻿(c) inserted 29 April 1987 Housing Corporation Amendment Act 1987 Section 19(4)﻿(c)﻿(i) amended 1 January 2008 section 364(1) Property Law Act 2007 Section 19(4)﻿(c)﻿(ii) amended 1 January 2008 section 364(1) Property Law Act 2007 Section 19(6) repealed 25 January 2005 section 200 Crown Entities Act 2004
19A: Corporation may sell or dispose of all or part of its property
Section 19A repealed 1 July 2001 section 9 Housing Corporation Amendment Act 2001
19B: Validity of transactions
Section 19B repealed 25 January 2005 section 200 Crown Entities Act 2004
19C: Ministerial reviews
Section 19C repealed 25 January 2005 section 200 Crown Entities Act 2004
20: Corporation to give effect to government policy
1: The Minister may require the Corporation to give effect to the policy of the Government, by—
a: giving the Corporation a direction under section 103
b: giving the Corporation a direction
2:
3:
4: Section 20 replaced 1 July 2001 section 10 Housing Corporation Amendment Act 2001 Section 20(1)﻿(a) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 20(1)﻿(b) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 20(2) repealed 25 January 2005 section 200 Crown Entities Act 2004 Section 20(3) repealed 25 January 2005 section 200 Crown Entities Act 2004 Section 20(4) repealed 25 January 2005 section 200 Crown Entities Act 2004
20A: Other provisions relating to
directions
1: Sections 114 115 section 20
2: When complying with section 115(2) section 20(1)﻿(b) Gazette
3: The Corporation must prepare, and give to the Minister for approval a draft plan stating how it proposes to give effect to the policy of the Government if,—
a: pursuant to a direction section 20
b: the Minister directs the Corporation to give effect to a government policy under section 103
4: Within 12 sitting days after approving a draft plan given under subsection (3), the Minister must present a copy of the approved plan to the House of Representatives. Section 20A inserted 1 July 2001 section 10 Housing Corporation Amendment Act 2001 Section 20A amended 25 January 2005 section 200 Crown Entities Act 2004 Section 20A(1) replaced 25 January 2005 section 200 Crown Entities Act 2004 Section 20A(2) replaced 25 January 2005 section 200 Crown Entities Act 2004 Section 20A(3)﻿(a) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 20A(3)﻿(b) replaced 25 January 2005 section 200 Crown Entities Act 2004
20B: Compensation of Corporation for providing certain services
1: If under section 20
a: the Crown must pay to the Corporation all or part of that price (as the case requires); and
b: if the policy is for the Corporation to provide housing and related services to persons who are to be required to pay income-related rents rather than market rents for the housing, the notice or agreement concerned must state that the housing and related services are to be provided in return for the payment by the Crown to the Corporation of either—
i: the difference between the amounts of market rents for the housing and the income-related rents charged; or
ii: an alternative price, set out in that notice or agreement, that has been agreed to by the Corporation.
2: If, because its statement of intent requires it to do so, the Corporation provides services that it cannot provide on normal business terms, the Crown may wholly or partly recompense it for doing so.
3: In subsection (1)﻿(b), income-related rents market rents section 2(1) and Tenancy Matters
4: After the vesting day in relation to HNZ, every agreement between the Crown and HNZ entered into by virtue of a requirement under section 7 and Tenancy Matters section 85 direction under section 20(1)﻿(b)
5: Nothing in this section limits or affects the generality of section 20 Section 20B inserted 1 July 2001 section 10 Housing Corporation Amendment Act 2001 Section 20B(1)﻿(b) replaced 28 May 2015 section 15(2) Housing Restructuring and Tenancy Matters (Social Housing Reform) Amendment Act 2015 Section 20B(3) amended 14 April 2014 section 25 Social Housing Reform (Housing Restructuring and Tenancy Matters Amendment) Act 2013 Section 20B(3) amended 1 July 2006 section 5(2)﻿(b) Housing Restructuring and Tenancy Matters (Information Matching) Amendment Act 2006 Section 20B(4) amended 14 April 2014 section 25 Social Housing Reform (Housing Restructuring and Tenancy Matters Amendment) Act 2013 Section 20B(4) amended 1 July 2006 section 5(2)﻿(b) Housing Restructuring and Tenancy Matters (Information Matching) Amendment Act 2006 Section 20B(4) amended 25 January 2005 section 200 Crown Entities Act 2004
20C: Application of sections 20 to 20B to subsidiaries
Sections 20 to 20B Crown entity subsidiaries of the Corporation Crown entity subsidiary of the Corporation Section 20C inserted 1 July 2001 section 10 Housing Corporation Amendment Act 2001 Section 20C amended 25 January 2005 section 200 Crown Entities Act 2004
21: Loans to local authorities for housing purposes
1: The Corporation may from time to time make loans to local authorities for housing purposes.
2: Any loan made to a local authority by the Corporation under this section may be made either out of money received by the Corporation under subsection (1) of section 32
3: In this section, local authority Local Government Act 2002 1965 No 47 s 18 Section 21(3) replaced 1 July 2003 section 262 Local Government Act 2002
22: Loans for industry and other purposes
Section 22 repealed 18 August 1992 Housing Corporation Amendment Act 1992
23: Guarantees and indemnities
Section 23 repealed 18 August 1992 Housing Corporation Amendment Act 1992
23A: Guarantees and indemnities under Residential Tenancies Act 1986
Section 23A repealed 18 August 1992 Housing Corporation Amendment Act 1992
24: Loans, guarantees, and indemnities at request of Minister of Finance
1: The Minister of Finance may from time to time in writing request the Corporation under this section to make any loan or expend any money or give any guarantee or indemnity, for any purpose specified in this Act, on such conditions as the Minister of Finance may specify.
2: Where the Corporation makes any loan or expends any money or gives any guarantee or indemnity pursuant to a request by the Minister of Finance under subsection (1), and in accordance with the conditions specified by the Minister of Finance under that subsection, the Corporation shall be deemed to be guaranteed by the Minister of Finance in respect of any loss that may be incurred by the Corporation arising out of the loan, expenditure, guarantee, or indemnity; and any money payable to the Corporation by the Minister of Finance pursuant to any such guarantee in favour of the Corporation shall be paid to the Corporation from a Crown Bank Account Section 24(2) amended 25 January 2005 section 83(7) Public Finance Act 1989
3: Securities for loans
25: Securities
Section 25 repealed 1 July 2001 section 12 Housing Corporation Amendment Act 2001
26: Mortgages of leasehold interests
1: Where a registered leasehold interest in land is subject to any mortgage under which the Corporation is the mortgagee, the mortgage shall be deemed to extend to and include the mortgagor's interest in any registered lease that may be granted to him in renewal of the mortgaged lease, or otherwise in lieu of the mortgaged lease.
2: In this section— Corporation mortgage registered Land Transfer Act 2017 1965 No 47 s 24 Section 26(2) Corporation inserted 8 August 1991 section 9 Housing Corporation Amendment Act 1991 Section 26(2) registered amended 12 November 2018 section 250 Land Transfer Act 2017
27: Special provisions as to mortgages of leasehold interests in Crown land or certain classes of Maori land
1: This section applies to any mortgage under which the Corporation is the mortgagee for the time being and which is a mortgage of the mortgagor's interest in—
a: any lease of any Crown land or of any other land vested in Her Majesty; or
b: any lease of land that is subject to the Maori Vested Lands Administration Act 1954 Maori Reserved Land Act 1955
c: any lease to which section 57
2: In this section— Corporation lease leasing authority Māori Trustee
3: Except with the consent of the Corporation, and on such terms as it thinks fit, it shall not be lawful for any leasing authority to forfeit or cancel the mortgagor's interest in any lease for breach of the conditions, or to accept any surrender thereof, or to cancel the mortgagor's right to compensation for or valuation of improvements, without giving to the Corporation at least 3 months' previous notice in writing of its intention so to do.
4: Notwithstanding such forfeiture, cancellation, or surrender, the mortgage to the Corporation shall, by virtue of this section, be deemed to be a first charge on the improvements then existing on the land for all money payable in respect thereof by any incoming tenant or occupier of the land (to the extent to which the mortgagor would have had interest therein if his title to the land had been lawfully determined otherwise than by forfeiture, cancellation, or surrender), and such money shall be paid to the Corporation accordingly: provided that the Corporation may accept from such incoming tenant or occupier a mortgage of his estate and interest in the land in lieu of cash, and any restrictions imposed by any Act on the right of the tenant to mortgage or assign his interest shall not apply in the case of a mortgage granted under this subsection.
5: If, in the event of such forfeiture, cancellation, or surrender, the Corporation and the leasing authority are unable to agree as to the value of the mortgagor's interest in the improvements, such value shall be determined by arbitration.
6: In the event of the Corporation, as mortgagee in possession, granting a lease or other tenancy of the land, or of any part of the land (which it is hereby empowered to do without the consent of the leasing authority), then, for the purpose of preventing forfeiture or cancellation of the mortgagor's title for breach of conditions, but for no other purpose, fulfilment of conditions by the person in actual possession under such lease or other tenancy shall be considered as fulfilment by the mortgagor: provided that, in the case of any land administered by the Land Settlement Board, the grant of a lease by the Corporation shall be subject to the approval of the Minister of Lands and in the case of any land administered by the Māori Trustee
7: Where the Corporation as mortgagee in possession of any land grants a lease or other tenancy of the land in accordance with subsection (6), the rent received by the Corporation shall be apportioned between the Corporation and the leasing authority in proportion to the values of the capital interests in the land of the Corporation and the leasing authority (as representing the Crown or other owner of the land) or in such other proportions as may be mutually agreed to between the Corporation and the leasing authority. Any rent or other revenue that may be received by the leasing authority in respect of a temporary lease or licence granted after the cancellation, forfeiture, or surrender of the mortgagor's title shall be similarly apportioned between the leasing authority and the Corporation.
8: If the Corporation sells the security in exercise of its powers of sale, any restrictions imposed by any Act on the right of lessee or licensee to mortgage or assign his interest in the land shall not apply with respect to the sale to the purchaser, nor shall any such restrictions apply with respect to the mortgage by the purchaser of his estate or interest in the land to the Corporation to secure the whole or any part of the purchase money.
9: Any sale by the Corporation in the exercise of its powers of sale may be by public auction or private contract, as the Corporation in its discretion thinks fit, and in the case of sale by private contract advertising shall not be necessary: provided that in the case of any land administered by the Land Settlement Board the sale shall be subject to the approval of the Minister of Lands.
10: Notwithstanding anything to the contrary in any other Act, the power of sale shall be deemed to arise and accrue and may, without the consent of the leasing authority, be exercised by the Corporation at any time after the expiration of the period limited in that behalf by the mortgage. 1965 No 47 s 25 Section 27(2) Corporation inserted 8 August 1991 section 10 Housing Corporation Amendment Act 1991 Section 27(2) Corporation amended 1 July 2009 section 30(2)﻿(a) Māori Trustee Amendment Act 2009 Section 27(6) proviso amended 1 July 2009 section 30(2)﻿(a) Māori Trustee Amendment Act 2009
28: Repayment of loans
Section 28 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
29: Borrowers to contribute to
Corporation's funds
1: Every person who receives from the Corporation a loan of money (except a loan made pursuant to section 24 Corporation's funds
2: Any sum payable pursuant to subsection (1) to the Corporation's funds 1965 No 47 s 27 s 3 Section 29 amended 1 July 2001 section 11(2) Housing Corporation Amendment Act 2001 Section 29(1) amended 1 July 2001 section 11(1) Housing Corporation Amendment Act 2001 Section 29(2) amended 1 July 2001 section 11(1) Housing Corporation Amendment Act 2001
4: Financial provisions
30: Borrowing powers of Corporation and subsidiaries
Section 30 repealed 1 July 2014 section 72 Crown Entities Amendment Act 2013
30AA: Loans deemed to have been lawfully raised
So far as concerns any lender or holder,—
a: all money borrowed by the Corporation or a Crown entity subpart 3
b: all securities and charges issued, granted, or varied by the Corporation or a Crown entity subpart 3
c: the following must for all purposes be treated as having been undertaken in accordance with subpart 3
i: all actions taken by the Corporation or a Crown entity
ii: all actions taken by the Corporation or a Crown entity
d: the lender or holder does not have to inquire whether, or to what extent, authority has been given under that Act Section 30AA inserted 1 July 2001 section 13 Housing Corporation Amendment Act 2001 Section 30AA(a) amended 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 30AA(a) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 30AA(b) amended 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 30AA(b) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 30AA(c) amended 1 July 2014 section 72 Crown Entities Amendment Act 2013 Section 30AA(c) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 30AA(c)﻿(i) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 30AA(c)﻿(ii) amended 25 January 2005 section 200 Crown Entities Act 2004 Section 30AA(d) amended 25 January 2005 section 200 Crown Entities Act 2004
30A: Power to enter into swaps or other financial arrangements
Section 30A repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
31: Securities issued by Corporation to be guaranteed by Crown
1: All bonds, stock, and other securities issued by the Corporation before the commencement of the Housing Corporation Amendment Act 2001 section 49
2: If any default is made by the Corporation in the payment of any principal or interest payable by it in respect of any bonds, stock, or other securities referred to in subsection (1), such principal or interest, as the case may be, shall forthwith be paid by the Minister of Finance out of a Crown Bank Account
3: All money paid by the Minister of Finance under the authority of this section on account of any bonds, stock, or other securities shall constitute a debt due by the Corporation to the Crown, and shall be recoverable accordingly. 1965 No 47 s 29 Section 31(1) amended 1 July 2001 section 14 Housing Corporation Amendment Act 2001 Section 31(2) amended 25 January 2005 section 83(7) Public Finance Act 1989
32: Investments in securities issued by Corporation
Section 32 repealed 1 October 1988 section 16(1) Trustee Amendment Act 1988
33: Corporation may borrow money on hypothecation of securities
Section 33 repealed 1 July 2001 section 15 Housing Corporation Amendment Act 2001
34: Registration of stock
Section 34 repealed 1 July 2001 section 15 Housing Corporation Amendment Act 2001
35: Advances from
Crown Bank Account Section 35 repealed 1 July 2001 section 15 Housing Corporation Amendment Act 2001
36: General Reserve Fund
Section 36 repealed 1 July 2001 section 15 Housing Corporation Amendment Act 2001
37: Corporation to maintain approved securities on account of General Reserve Fund
Section 37 repealed 1 July 2001 section 15 Housing Corporation Amendment Act 2001
38: Financial year
Section 38 repealed 25 January 2005 section 200 Crown Entities Act 2004
39: Unauthorised expenditure
Section 39 repealed 1 July 2001 section 15 Housing Corporation Amendment Act 2001
40: Distribution of profits
1: The Corporation must pay its surplus for each financial year into a Crown bank account
2: In subsection (1), surplus statement of performance expectations and annual financial statements Section 40 replaced 1 July 2001 section 16 Housing Corporation Amendment Act 2001 Section 40(1) amended 25 January 2005 section 65R(3) Public Finance Act 1989 Section 40(2) amended 1 July 2014 section 72 Crown Entities Amendment Act 2013
41: Audit of accounts
Section 41 repealed 21 December 1992 section 42 Public Finance Amendment Act 1992
41A: Crown entity
Section 41A repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
42: Annual report
Section 42 repealed 25 January 2005 section 200 Crown Entities Act 2004
5: General provisions
43: Protection of name of Corporation
1: No company or other body corporate may be incorporated or registered under any enactment in New Zealand under—
a: the name Housing Corporation of New Zealand; or
b: the name Housing New Zealand Corporation; or
c: any other name that in the opinion of the Registrar of Companies so resembles either of those names as to be calculated to deceive.
2: No person other than the Corporation may (alone or with any other person or persons) trade or carry on business under, or in any other way use as the name or description of an unincorporated body or organisation,—
a: the name Housing Corporation of New Zealand; or
b: the name Housing New Zealand Corporation; or
c: any other name so resembling either of those names as to be calculated to deceive.
2A: Subsections (1) and (2) do not prevent HNZ from continuing to use the name Housing New Zealand.
3: Any person who contravenes subsection (2) commits an offence and shall be liable on 1965 No 47 s 40 Section 43(1) replaced 1 July 2001 section 18(1) Housing Corporation Amendment Act 2001 Section 43(2) replaced 1 July 2001 section 18(1) Housing Corporation Amendment Act 2001 Section 43(2A) inserted 1 July 2001 section 18(2) Housing Corporation Amendment Act 2001 Section 43(3) amended 1 July 2013 section 413 Criminal Procedure Act 2011
43A: Conveyancing
1: Where, pursuant to paragraph (c) of section 19(4) client any employee of the Corporation
2: Nothing in subsection (1) shall affect the right of the solicitor to act for the Corporation or any other person as well as the client.
3:
4: If, as a result of anything done or omitted to be done by the Corporation in the exercise of any of its powers under section 19(4)﻿(c)
5: Nothing in sections 21 22 24 section 19(4)﻿(c)
6: Notwithstanding anything in section 9 section 19(4)﻿(c)
7: No solicitor employed, engaged, or instructed by the Corporation shall be personally liable for any act done or default made in good faith by the solicitor while acting for the Corporation in the exercise or purported exercise by the Corporation of any of its powers under section 19(4)﻿(c) Section 43A inserted 29 April 1987 Housing Corporation Amendment Act 1987 Section 43A(1) amended 1 May 1993 Housing Corporation Amendment Act 1992 Section 43A(3) repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001 Section 43A(5) amended 1 August 2008 section 348 Lawyers and Conveyancers Act 2006 Section 43A(6) amended 1 August 2008 section 348 Lawyers and Conveyancers Act 2006
44: Prohibition of procuration fees
Section 44 repealed 1 July 2001 section 19 Housing Corporation Amendment Act 2001
45: Corporation's liability for taxes and rates
The Corporation shall be liable for taxes and rates to the same extent as if it were a company incorporated under the Companies Act 1993 1965 No 47 s 43 Section 45 amended 1 July 2001 section 20 Housing Corporation Amendment Act 2001
46: Members not Crown servants
Section 46 repealed 25 January 2005 section 200 Crown Entities Act 2004
47: Personal liability of members
Section 47 repealed 1 July 2001 section 25(1)﻿(b) Housing Corporation Amendment Act 2001
48: Regulations
The Governor-General may from time to time, by Order in Council, make regulations for all or any of the following purposes:
a: prescribing forms of mortgage or other securities given in favour of the Corporation:
b: providing for such matters as are contemplated by or are necessary for giving full effect to the provisions of this Act and for its due administration. 1965 No 47 s 44
49: Corporation to succeed State Advances Corporation
1: The Corporation State Advances Corporation Act 1965
2: On the commencement of this Act,—
a: every director of the State Advances Corporation shall retire from office; and
b: all real and personal property that immediately before the commencement of this Act was vested in the State Advances Corporation shall, without conveyance, transfer, or assignment, vest in the Corporation
c: all the contracts, debts, and liabilities of the State Advances Corporation immediately before the commencement of this Act (including every guarantee and indemnity continuing to have effect, immediately before the commencement of this Act, under subsection (3) of section 2 of the State Advances Corporation Amendment Act 1970 Corporation
3: The Registrar-General of Land must, on written application by the Corporation, register it as the owner of any estate or interest that is registered under the Land Transfer Act 2017
4: In the financial year ending with 31 March 1975, the Corporation sections 41 42 Corporation Section 49(1) amended 1 July 2001 section 24(2) Housing Corporation Amendment Act 2001 Section 49(2)﻿(b) amended 1 July 2001 section 24(2) Housing Corporation Amendment Act 2001 Section 49(2)﻿(c) amended 1 July 2001 section 24(2) Housing Corporation Amendment Act 2001 Section 49(3) replaced 12 November 2018 section 250 Land Transfer Act 2017 Section 49(4) amended 1 July 2001 section 24(2) Housing Corporation Amendment Act 2001
49A: References to Housing Corporation of New Zealand
Every reference to the Corporation under its former name of the Housing Corporation of New Zealand in any enactment, agreement, contract, deed, or other document enacted, entered into, or created before 1 July 2001 must be read as a reference to the Corporation under its present name. Section 49A inserted 1 July 2001 section 21 Housing Corporation Amendment Act 2001
50: Amendments to other enactments, repeals, and savings
1: The enactments specified in Schedule 1
2: The enactments specified in Schedule 2
3: Subject to the other provisions of this Act, and unless in any case the context otherwise requires, every reference in any enactment, regulation, rule, order, agreement, deed, instrument, application, notice, licence, or other document whatsoever, in force at the commencement of this Act,—
a: to the State Advances Corporation of New Zealand shall hereafter be read as a reference to the Corporation
b: to the Managing Director or General Manager of the State Advances Corporation of New Zealand shall hereafter be read as a reference to the person for the time being holding office as the chief executive (however designated) Corporation
4: Notwithstanding the repeal of the State Advances Corporation Act 1965 Corporation section 49 State Advances Corporation Act 1965 section 2 Section 50(3)﻿(a) amended 1 July 2001 section 24(2) Housing Corporation Amendment Act 2001 Section 50(3)﻿(b) amended 1 July 2001 Housing Corporation Amendment Act 2001 Section 50(3)﻿(b) amended 1 May 1993 Housing Corporation Amendment Act 1992 Section 50(4) amended 1 July 2001 Housing Corporation Amendment Act 2001
5A: Social housing reform
Part 5A inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016 Purpose, overview, and interpretation Heading inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50A: Purpose of this Part
The purpose of this Part is to enable social housing transactions to be entered into and implemented. Section 50A inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50B: Overview of this Part
1: This Part—
a: gives powers to the Minister to enter into social housing transactions for and on behalf of the Corporation or subsidiary; and
b: provides for both the Minister and the Corporation to have a role in implementing social housing transactions; and
c: provides for other matters, such as delegation of the Minister’s powers, and provisions relating to liabilities.
2: Subsection (1) is only a guide to the general scheme and effect of this Part. Section 50B inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50C: Interpretation
In this Part, unless the context otherwise requires,— assets section 51 contract Corporation or subsidiary
a: the Corporation:
b: any 1 or more Crown entity subsidiary of the Corporation member Ministry person relevant board settled social housing reform objectives section 50D social housing transaction section 50E 50F transaction process transfer contract section 50E transferee transitional services contract section 50F Section 50C inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016 Entry into and implementation of social housing transactions Heading inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50D: Meaning and relevance of social housing reform objectives
1: The social housing reform objectives are any 1 or more of the following:
a: people who need housing support can access it and receive social services that meet their needs:
b: social housing is of the right size and configuration, and in the right areas, for households that need it:
c: social housing tenants are helped to independence, as appropriate:
d: there is more diverse ownership or provision of social housing:
e: there is more innovation and more responsiveness to social housing tenants and communities:
f: the supply of affordable housing is increased, especially in Auckland.
2: The social housing reform objectives are relevant to decisions by the Minister to enter into transfer contracts ( see section 50E Section 50D inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50E: Minister may enter into transfer contracts as Corporation or subsidiary
1: The Minister may enter into a contract, for and on behalf of the Corporation or subsidiary, that provides for either or both of the following (a transfer contract
a: the transfer of ownership of assets of the Corporation or subsidiary:
b: the grant of an interest in assets of the Corporation or subsidiary.
2: A transfer contract may be on any terms and conditions (including as to consideration) that the Minister may agree with the transferee. Section 50E inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50F: Minister may enter into transitional services contracts as Corporation or subsidiary
1: The Minister may enter into a contract, for and on behalf of the Corporation or subsidiary, that relates to any assets that are the subject of a transfer contract and that provides for either or both of the following (a transitional services contract
a: the provision of housing related services by the Corporation or subsidiary, to the transferee, on a transitional basis:
b: the provision of access to information and information technology systems and processes of the Corporation or subsidiary, to the transferee, on a transitional basis.
2: A transitional services contract may be on any terms and conditions (including as to consideration) that the Minister may agree with the transferee.
3: See section 50M Section 50F inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50G: Minister may do other things as Corporation or subsidiary relating to and to implement social housing transactions
The Minister may, for and on behalf of the Corporation or subsidiary, do anything—
a: that the Minister considers necessary or desirable in relation to the negotiation of, or entry or potential entry into, a transfer contract or a transitional services contract:
b: to effect a transfer of assets or a grant of an interest in assets under a transfer contract:
c: that the Minister otherwise considers necessary or desirable for the implementation of a social housing transaction. Section 50G inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50H: Provisions applying to things Minister may do
1: In acting under section 50E 50F 50G
2: However, the Minister is not constrained by, and sections 50E to 50G
a: the objectives, functions, or powers of the Corporation or subsidiary:
b: the statement of intent or statement of performance expectations for the Corporation or subsidiary:
c: the constitution of any subsidiary:
d: the role, authority, powers, or duties of any relevant board:
e: anything to the contrary contained or implied in this Act, the Crown Entities Act 2004 Companies Act 1993
f: any rule of law to the contrary relating to capacity or validity of acts.
3: An act of the Minister in accordance with this Part binds the Corporation or subsidiary (regardless of the capacity of the entity or entities concerned). 1993 No 105 ss 16–17 181(2) ss 16–19 129(2) Section 50H inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50I: Application of Public Works Act 1981
1: Nothing in sections 40 to 42
2: Subsection (1) applies despite the powers exercised (and exercisable) by the Minister under this Part.
3: Nothing in subsection (1) limits section 27(4A) Section 50I inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016 Facilitation and implementation of social housing transactions Heading inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50J: Objectives of Corporation for this Part
1: The Corporation’s principal objectives for this Part are to facilitate the transaction processes and to facilitate and implement social housing transactions.
2: The Corporation’s principal objectives for this Part prevail over the Corporation’s other objectives. Section 50J inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50K: Functions of Corporation for this Part
1: Despite section 18(1)
2: The Corporation’s functions for this Part include—
a: performing social housing transactions:
b: taking action in relation to or in connection with social housing transactions (including action under or in relation to transfer contracts or transitional services contracts, and including action provided for in the Corporation’s current statement of intent or statement of performance expectations):
c: taking action in relation to or in connection with potential social housing transactions (including action provided for in the Corporation’s current statement of intent or statement of performance expectations):
d: any other functions conferred on it by this Part.
3: Subsection (2) does not limit subsection (1). Section 50K inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016 Miscellaneous Heading inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50L: Publication of social housing transaction
1: The Minister must, as soon as practicable after a social housing transaction is settled,—
a: publish a notice in the Gazette
b: present a copy of that notice to the House of Representatives.
2: The Ministry must,—
a: as soon as practicable after the Minister’s notice is published in the Gazette
b: ensure that the notice remains on the site and accessible to members of the public at all reasonable times. Section 50L inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50M: Minister must notify Corporation or subsidiary of intention to enter into transitional services contract
1: The Minister must give written notice to the Corporation or subsidiary, as relevant, of the Minister’s intention to enter into a transitional services contract, at least 5 working days before entering into the contract.
2: The notice must be accompanied by a copy of the proposed contract. Section 50M inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50N: Minister must notify Corporation or subsidiary of social housing transaction
1: The Minister must give written notice to the Corporation or subsidiary, as relevant, as soon as practicable after entering into a social housing transaction that is, or has become, unconditional.
2: The notice must be accompanied by—
a: the 1 or more contracts that give effect to the social housing transaction; and
b: a copy of any related documents (for example, any notices given); and
c: a description of the general nature of anything else done (or anticipated to be done) under section 50G Section 50N inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50O: Corporation or subsidiary must supply information
1: The Corporation or subsidiary must supply to the Minister any information requested in writing by the Minister to facilitate a transaction process, or to facilitate the implementation by the Minister of a social housing transaction.
2: Subsection (1) does not apply to the extent that the supply of the information would breach the information privacy principles set out in the Privacy Act 1993
3: The Corporation or subsidiary must supply the information as soon as practicable after receiving the Minister’s written request.
4: Section 178 Section 50O inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50P: Method of contracting
1: The Minister may enter into a contract or other enforceable obligation in accordance with this Part, for and on behalf of the Corporation or subsidiary, by signing under the name of the entity or entities concerned.
2: A contract or other enforceable obligation entered into by the Minister for and on behalf of the Corporation under subsection (1) is deemed to be entered into in accordance with section 127(2)
3: A contract or other enforceable obligation entered into by the Minister for and on behalf of a Crown entity subsidiary of the Corporation under subsection (1) is deemed to be entered into in accordance with section 180(1)﻿(a) 1993 No 105 s 180 s 127 Section 50P inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50Q: Delegation
1: The Minister may delegate all or any of the Minister’s functions and powers under this Part to the chief executive of the Ministry.
2: Section 28(2) to (7) section 29
3: Section 41(2) and (5)
4: Every person purporting to act under this Part pursuant to any delegation under section 41
a: must produce evidence of his or her authority to do so if signing a document in the nature of a deed or if reasonably requested to do so; and
b: must otherwise, in the absence of proof to the contrary, be presumed to be acting in accordance with the terms of the delegation.
5: This section applies despite any enactment or rule of law to the contrary. Section 50Q inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016 Legal effect Heading inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50R: Legal effect of things done by Minister
1: The Corporation or subsidiary is responsible and liable for anything done, or not done, under section 50E 50F 50G
2: Neither the Crown nor the Minister is responsible or liable to any person by reason of acting, or having not acted, under section 50E 50F 50G
3: In subsections (1) and (2), not acted
4: Anything done, or purported to be done, under section 50E 50F 50G
5: This section applies despite any enactment or rule of law to the contrary.
6: Nothing in this section affects the right of a person to apply, in accordance with the law, for judicial review. Section 50R inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
50S: Protection from liability for board, members, individuals, etc
1: No relevant board or member, nor any office holder or employee of the Corporation or subsidiary, is liable to any person for—
a: a decision of the Minister under this Part; or
b: the exercise by the Minister of a power under section 50E 50F 50G
2: The effect of this Part must be taken into account in determining the nature of the duties of each relevant board and member in respect of acts or omissions under this Part (for example, under section 51 56 section 137
3: The benefit of the immunity in section 121
4: Section 138A(2)
5: A requirement to keep accounting records (for example, as in section 168(1)
6: This section applies despite any enactment or rule of law to the contrary. Section 50S inserted 25 February 2016 section 6 Housing Corporation (Social Housing Reform) Amendment Act 2016
6: Restructuring of housing entities
Part 6 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
51: Interpretation
In this Part, unless the context otherwise requires,— assets
a: choses in action and money:
b: goodwill:
c: rights, interests, and claims of every kind in or to property, whether arising from, accruing under, created or evidenced by, or the subject of, an instrument or otherwise, and whether liquidated or unliquidated, actual, contingent, or prospective liabilities rights Section 51 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001 Housing New Zealand Limited to become subsidiary of Corporation Heading inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
52: Vesting in Corporation of the Crown's shares in Housing New Zealand Limited
1: On the commencement of the Housing Corporation Amendment Act 2001
2: In subsection (1), company responsible Minister section 2(1) and Tenancy Matters Section 52 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001 Section 52(2) amended 1 July 2006 section 5(2)﻿(b) Housing Restructuring and Tenancy Matters (Information Matching) Amendment Act 2006 Transfer to Corporation of assets, functions, liabilities, and obligations of existing companies Heading inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
53: Vesting orders
1: The Governor-General may, by Order in Council made on the recommendation of the Minister,—
a: vest in the Corporation—
i: all the assets and liabilities of an existing company; and
ii: any assets of the Crown used principally for the purpose of the Corporation or that existing company; and
iii: any liability of the Crown arising from the operations of the Corporation or that existing company; and
b: confer or impose rights or obligations on the Corporation in relation to any asset or liability vested; and
c: direct any person or authority to register, record, or take notice of any thing done by the order, the consequential effect of section 54
2: The Minister—
a: must not recommend the making of an order vesting all the assets and liabilities of an existing company in the Corporation without first considering—
i: the company's obligations to its creditors; and
ii: the likely effect of the vesting on those obligations; and
b: must not recommend the making of an order vesting any liability of the Crown in the Corporation unless satisfied that it was incurred in the process of or for the purposes of the performance of the functions of the Corporation or the existing company concerned; and
c: must not recommend the making of an order conferring or imposing a right or obligation on the Corporation in relation to any asset or liability unless satisfied that it is necessary or desirable to do so because of the vesting of the asset or liability in the Corporation. OIC Housing Restructuring and Tenancy Matters Act 1992 Sections 7 and 65 are repealed with effect on the day on which the order under section 53 of this principal Act relating to HNZ comes into force Section 53 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
54: Additional effects of orders
On and after the vesting day,—
a: every reference to the existing company concerned in any contract, lease, notice, order, proceedings, regulations, or other document has effect as a reference to the Corporation; and
b: to the extent that the order concerned vests an asset or liability of the Crown in the Corporation, every reference to the Crown (whether as Her Majesty, the Crown, or a Minister of the Crown) in any contract, lease, notice, order, proceedings, regulations, or other document relating to the asset or liability (being a reference to the Crown by virtue of its status as owning the asset or being liable for the liability) has effect as a reference to the Corporation; and
c: the Corporation has all the rights, obligations, privileges, and immunities of the existing company concerned (and of any officer or employee of that company acting as an officer or employee of that company), and all the rights, obligations, privileges, and immunities of the Crown as aforesaid (other than rights, obligations, privileges, and immunities that the Crown has only by virtue of being the Crown), in relation to all appeals, applications, objections, and other proceedings before any authority, court, tribunal, or person acting judicially, relating to any asset or liability vested by the order concerned. Section 54 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
55: Records and registers
1: Except as provided in section 53(1)﻿(c)
2: An order under section 53 section 54
3: In the absence of evidence to the contrary, it is sufficient proof that any asset or liability is vested in the Corporation if a person presents to a registrar or any other person an instrument, whether or not comprising an instrument of transfer,—
a: executed or purporting to be executed by or on behalf of the Corporation; and
b: relating to any asset or liability held by an existing company or the Crown immediately before the vesting day; and
c: containing a recital that the asset or liability has vested in the Corporation under this Act. Section 55 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
56: Vesting to take effect as amalgamation for certain purposes
1: For the purposes of the Inland Revenue Acts (within the meaning of section 3(1)
a: the vesting of the assets and liabilities of an existing company under section 53
b: the Corporation must be treated as an amalgamated company; and
c: the company must be treated as an amalgamating company; and
d: the company must be treated as having ceased to exist on the vesting day.
2: If the assets and liabilities of an existing company vest in the Corporation under section 53
a: section FO 12(1)﻿(b) and (d)
b: for the purposes of section FE 10
3:
4: Subsections (1) and (2) Companies Act 1993
5: Subsections (1) and (2) override section 45 Section 56 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001 Section 56(2)﻿(a) amended 1 April 2008 section ZA 2(1) Income Tax Act 2007 Section 56(3) repealed 1 April 2014 section 126 Financial Reporting (Amendments to Other Enactments) Act 2013 Section 56(4) amended 1 April 2014 section 126 Financial Reporting (Amendments to Other Enactments) Act 2013
57: Certain matters not affected by vesting
Nothing effected or authorised by this Part—
a: places the Crown, the Corporation (or any member), an existing company, or any other person in breach of, or default under, any contract, or in breach of trust, or in breach of confidence, or otherwise makes any of them guilty of a civil wrong; or
b: gives rise to a cause of action against the Crown, the Corporation or any member, an existing company, or any other person; or
c: gives rise to a right for any person to—
i: terminate or cancel or modify a contract or an agreement; or
ii: enforce or accelerate the performance of an obligation; or
iii: require the performance of an obligation not otherwise arising for performance; or
d: places the Crown, the Corporation (or any member), an existing company, or any other person in breach of any enactment or rule of law or contractual provision prohibiting, restricting, or regulating the assignment or transfer or issue of any asset or liability or the disclosure of any information; or
e: releases any surety wholly or in part from all or any obligation; or
f: invalidates or discharges any contract or security; or
g: affects the Corporation's rights or liabilities under or in respect of any guarantee relating to the liabilities of an existing company given by or to the Corporation. Section 57 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
58: Property or liabilities vested in Corporation
If any asset or liability of the Crown is vested in the Corporation under this Act,—
a: the Crown remains liable to any third party as if the asset or liability had not been vested, but must be indemnified by the Corporation in respect of any liability to the third party:
b: any satisfaction or performance by the Corporation in respect of the asset or liability is also deemed to be satisfaction or performance by the Crown:
c: any satisfaction or performance in respect of the asset or liability by any third party to the benefit of the Corporation is also deemed to be to the benefit of the Crown. Section 58 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
59: Transfer of contracts and leases
1: Before the vesting day,—
a: an existing company may transfer to the Corporation a specified right or benefit under a contract or lease to which it is a party; and
b: the Corporation may transfer to an existing company a specified right or benefit under a contract or lease to which it is a party, or a right or benefit transferred to it under paragraph (a).
2: The transfer does not prevent the transferor from exercising or enjoying the right or benefit transferred.
3: The transfer may not be made unless—
a: the proposed transferee has agreed to it; and
b: written notice of it has been delivered to the proposed transferee, and to every other party to the contract or lease.
4: The transfer is binding on every party to the contract or lease. Section 59 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
60: Application of Privacy Act 1993
1: For the purposes of the Privacy Act 1993
a: the use by the Corporation or its employees of any information gathered or held by an existing company is a directly related purpose; and
b: the use by an existing company or its employees of any information gathered or held by the Corporation or another existing company is a directly related purpose.
2: Subsection (1) is for the avoidance of doubt. Section 60 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
7: Transfer of employees to Corporation
Part 7 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
61: Interpretation
In this Part, unless the context otherwise requires,— employment agreement section 5 old agreement transferred employee section 62 Section 61 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
62: Transfer of employees to Corporation
The Corporation may appoint to a position in its employment a person who is—
a: an employee of an existing company; or
b: an employee of a department listed in Schedule 1 Section 62 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
63: Consultation
The Corporation must not appoint a person to a position in its employment under section 62 Section 63 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
64: Effect of old employment agreement
Unless it provides otherwise, a transferred employee's old agreement continues to apply to him or her during the period referred to in section 65
a: entered into with the Corporation, rather than the former employer; and
b: binding on him or her, the Corporation, and any other party to it other than the former employer. Section 64 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
65: Period during which old agreement applies
The period during which a transferred employee's old agreement continues to apply begins on his or her appointment to a position in the employment of the Corporation under section 62
a: he or she—
i: ceases to be an employee of the Corporation; or
ii: is appointed to some other position in the employment of the Corporation; or
b: any of the conditions of employment applying to him or her under it are varied (otherwise than under section 67 Section 65 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
66: Circumstances in which new employment agreement to apply
The conditions of employment of a person appointed to a position in the employment of the Corporation under section 62
a: he or she is appointed to some other position in the employment of the Corporation; or
b: any of the conditions of employment applying to him or her under his or her old agreement are varied (otherwise than under section 67 Section 66 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
67: Changes in duties or location
1: If during the period referred to in section 65 section 62
a: his or her conditions of employment may be varied by agreement to reflect that change; but
b: the varied conditions must be no less favourable than those he or she was entitled to under his or her old agreement.
2: Subsection (1) overrides section 64 Section 67 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
68: Transfer not enough to break continuous employment
For the purposes of any provisions of a transferred employee's old agreement relating to continuity of service, his or her appointment to a position in the employment of the Corporation under section 62 Section 68 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001
69: Transfer not enough to entitle employee to redundancy or severance payment
A transferred employee is not entitled to receive compensation for redundancy, or a severance payment, because—
a: the position he or she held in the existing company or department concerned has ceased to exist; or
b: he or she has ceased by virtue of his or her appointment to a position in the employment of the Corporation to be an employee of that company or department. Section 69 inserted 1 July 2001 section 22 Housing Corporation Amendment Act 2001