HR 4BActivities relating to New Zealand Superannuation Fund and Venture Capital Fund

1. This section applies to determine for this Act the rules that determine the amounts of income derived and expenditure incurred by the Crown as owner of the New Zealand Superannuation Fund (the Fund) and the VCF.

2. Amounts of income derived and expenditure incurred by the Crown in activities relating to the Fund or the VCF are determined as if the amounts were being derived or incurred by a company (the Fund/VCF company), other than a public authority, that was a special corporate entity wholly owned by,—

3. in the case of the Fund, the Minister of the Crown who was for the time being responsible for the administration of the New Zealand Superannuation and Retirement Income Act 2001, Parts 2 and 3:
4. in the case of the VCF, the Minister of the Crown who was for the time being responsible for the administration of the Venture Capital Fund Act 2019.

5. The consolidation rules, continuity provisions, and other rules relating to groups of companies apply to the Crown as owner of the Fund and of the VCF, to a Fund investment vehicle as referred to in section 59A of the New Zealand Superannuation and Retirement Income Act 2001, to a VCF investment vehicle as referred to in section 25 of the Venture Capital Fund Act 2019, and to a company in which the Guardians of New Zealand Superannuation (the Guardians) hold interests for the Crown, as if—

6. the Crown were the Fund/VCF company; and
7. interests in the Fund investment vehicle, VCF investment vehicle, or company held by the Guardians were owned by the Crown as the Fund/VCF company.