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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

44: Meaning of change in significant influence

You could also call this:

"What it means for someone to get or lose control over a company with an offshore energy permit"

Illustration for Offshore Renewable Energy Bill

If a permit is granted, you might wonder what a change in significant influence over the permit holder means. This happens when a person, let's call them person A, gets or loses significant influence over the permit holder after the permit is granted. Person A gets significant influence if they can control or make big decisions about the permit holder, like choosing who is on the governing body or having a big say in voting.

You have significant influence if you can control more than 25% of the governing body or voting rights of the permit holder, either on your own or with others. This can happen directly or indirectly, meaning you might not be the one making the decisions, but you have the power to choose who does. If you have this kind of influence, you are considered to have significant influence over the permit holder.

When we talk about significant influence, a specified person is someone who works with person A or does what person A wants. This can be someone who acts jointly with person A or someone who usually follows person A's wishes, especially when it comes to exercising power or control over the permit holder, as mentioned in subsection (2).

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This page was last updated on 29 June 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS992186.

43: When transfer takes effect, or

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

45: Meaning of approval period, or

"When a big change happens to someone with a permit, there's a special time frame called the approval period"

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

44Meaning of change in significant influence

A change in significant influence over a permit holder means that, after the permit is granted, a person (person A)—
obtains significant influence over the permit holder; or
ceases to have significant influence over the permit holder.

Person A has significant influence over a permit holder if—
person A has the power (whether directly or indirectly) to—
1. control the composition of more than 25% of the governing body of the permit holder; or
2. exercise, or control the exercise of, more than 25% of the voting rights in the permit holder:
person A has, together with 1 or more specified persons, the power (whether directly or indirectly) to—
1. control the composition of more than 25% of the governing body of the permit holder; or
2. exercise, or control the exercise of, more than 25% of the voting rights in the permit holder.

In this section, specified person, in relation to person A, means—
a person who is acting or will act jointly or in concert with person A in respect of exercising, or controlling the exercise of, a power referred to in subsection (2); or
a person who acts, or is accustomed to acting, in accordance with the wishes of person A.