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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 - Miscellaneous provisions

62: Effect of liquidation or loss of registration

You could also call this:

"What happens to offshore energy permits if a company closes or is removed from the register"

Illustration for Offshore Renewable Energy Bill

If you have a permit to do something with offshore renewable energy and your company is liquidated, the permit will go to the person in charge of liquidating the company. This person can then deal with the permit as if they owned it. You can think of the permit as personal property that can be passed on. The person in charge of liquidating the company can do what the original permit holder could do with the permit.

If a company with a permit is no longer registered, the permit will go to the Crown. This can happen if the company is removed from the New Zealand register or another register it was on. The permit will be treated as personal property that now belongs to the Crown.

If a permit is passed to you because of what is said in this section, you will not have to decommission anything just because the permit is now yours.

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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=LMS992207.

61: Permits are not real or personal property, or

"You can't own or sell permits like you own a house or a toy."

63: Minister may declare safety zones, or

"The Minister can create a safety area around offshore energy equipment to keep people safe"

Part 2Regime for offshore renewable energy permits and infrastructure protection
Provisions relating to both feasibility permits and commercial permits: Miscellaneous provisions

62Effect of liquidation or loss of registration

On the liquidation, dissolution, or other winding-up of a permit holder, the permit vests in the liquidator or equivalent person as if it were personal property, and the liquidator or equivalent person may deal with the permit to the same extent as the permit holder would have been able to.
If a permit holder ceases to be registered on the New Zealand register or the overseas register (within the meaning of those terms in section 2(1) of the Companies Act 1993) or other relevant register on which it was registered, the permit vests in the Crown as if it were personal property.
A person does not have a decommissioning obligation because the permit has vested in them under this section.