69BInterpretation

1. In this Part, unless the context otherwise requires,—

   asset—

   1. means property of any kind, whether or not situated in New Zealand, whether tangible or intangible, real or personal, corporeal or incorporeal, and whether or not subject to rights; and
   2. includes—
      1. estates or interests in any land, including rights of occupation of land or buildings:
      2. buildings, vehicles, plant, equipment, machinery, fixtures and fittings, and rights in them:
      3. choses in action and money:
      4. rights of any kind, and applications, objections, submissions, and appeals in respect of those rights:
      5. intellectual property and applications pending for intellectual property:
      6. goodwill, and any business undertaking

   Chorus—

   1. means ChorusCo; and
   2. includes any of its subsidiaries

   ChorusCo means the company that is to be demerged from Telecom on separation day in accordance with the demerger arrangement

   demerger arrangement means an arrangement approved by the court pursuant to Part 15 of the Companies Act 1993 on the application of Telecom involving the distribution of 100% of the ordinary shares held by Telecom Corporation of New Zealand Limited in ChorusCo to the holders (including a nominee for holders) of ordinary shares in Telecom Corporation of New Zealand Limited

   liabilities means liabilities, debts, charges, duties, and obligations of every description, whether present or future, actual or contingent, and whether payable or to be observed or performed in New Zealand or elsewhere

   related party has the meaning set out in section 69U

   rights includes all rights, powers, privileges, interests, leases, licences, approvals, consents, designations, permissions, dispensations, authorisations, benefits, defences, immunities, claims, and equities of any kind, 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

   separation day means the day on which Telecom Corporation of New Zealand Limited distributes 100% of the ordinary shares it holds in ChorusCo in accordance with the demerger arrangement.