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Offshore Renewable Energy Bill

Regime for offshore renewable energy permits and infrastructure protection - Provisions relating to both feasibility permits and commercial permits - Permit transfers and changes in significant influence

42: Transfer of permit requires Minister’s approval

You could also call this:

"To transfer a permit, you must get the Minister's approval first."

Illustration for Offshore Renewable Energy Bill

If you want to transfer a permit, you need to get approval from the Minister first. You must apply for this approval with the person you want to transfer the permit to. You have to do this within 90 working days of agreeing to the transfer, but you should check out section 59 for more information.

When you apply, you need to include a copy of your transfer agreement and some other information. If it's a commercial permit, you also need to propose a financial security arrangement, which is explained in subpart 3 of Part 3. The Minister will look at your application and decide whether to approve the transfer.

The Minister can approve the transfer if the person you're transferring to is a suitable company and meets certain requirements. For example, the Minister will check if the company is registered in New Zealand or is an overseas company that is allowed to operate here. The Minister will also consider whether the company poses a risk to national security or public order, and whether they have a good compliance record.

Before making a decision, the Minister must think about these things and any other requirements that are set out in the regulations. You should be aware that if you transfer your permit, you may also need to transfer any other related consents, such as a marine consent under the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act 2012 or a resource consent under the Resource Management Act 1991.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS992180.

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41: Application to amend permit conditions, or

"Asking to Change the Rules of Your Offshore Energy Permit"

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43: When transfer takes effect, or

"When a permit transfer is officially approved and takes effect"

Part 2Regime for offshore renewable energy permits and infrastructure protection
Provisions relating to both feasibility permits and commercial permits: Permit transfers and changes in significant influence

42Transfer of permit requires Minister’s approval

  1. The transfer of a permit requires the prior approval of the Minister under this section.

  2. An application for approval must—

  3. be made jointly by the permit holder and the proposed transferee; and
    1. be made within 90 working days after the date of the agreement that contains the transfer (but see section 59); and
      1. be accompanied by a copy of the agreement that contains the transfer; and
        1. in the case of a commercial permit, include proposals for a financial security arrangement (see subpart 3 of Part 3).

          1. The Minister may give approval for a transfer if—

          2. the proposed transferee is a single entity that is either a body corporate that is incorporated in New Zealand or an overseas company that is registered under Part 18 of the Companies Act 1993; and
            1. in the case of a feasibility permit, the Minister is satisfied that the proposed transferee meets the permit holder suitability requirements in section 19(1)(d) and (e); and
              1. in the case of a commercial permit,—
                1. the Minister is satisfied that the proposed transferee meets the permit holder suitability requirements in section 29(1)(b) and (c) (in respect of the remaining life of the permit) and section 29(1)(e); and
                  1. the Minister has, in accordance with subpart 3 of Part 3, determined an acceptable financial security arrangement to be put in place by the proposed transferee; and
                    1. the Minister is satisfied that the proposed transferee will be able to put that acceptable financial security arrangement in place before the transfer takes effect; and
                      1. the Minister is satisfied that the amount secured by the proposed transferee’s acceptable financial security arrangement will be equal to or greater than the amount secured by the approved financial security arrangement of the transferor at the time when the transfer takes effect; and
                      2. any other requirements under the regulations are met.

                        1. Before giving approval for a transfer, the Minister must have regard to—

                        2. whether the proposed transferee poses any significant risk to national security or public order; and
                          1. the proposed transferee’s compliance record in New Zealand and internationally.

                              1. Guidance note

                              A person who transfers their permit will also need to transfer any marine consent under the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act 2012 or resource consent under the Resource Management Act 1991 that relates to the same ORE infrastructure activities.