This Act may be cited as the Auckland Airport Act 1987.

In this Act, unless the context otherwise requires,—

This Act shall bind the Crown.

Notwithstanding any enactment or rule of law, the Ministers may form and register under the Companies Act 1955 a public company limited by shares that—

The Ministers may subscribe for equity securities in the company to be issued on its incorporation and any other equity securities to be so issued shall be subscribed for by nominees of the Ministers.

The Ministers may subscribe for or hold any other equity securities or debt securities issued by the company.

The memorandum of association and articles of association of the company shall be laid before the House of Representatives by the Minister of Civil Aviation and Meteorological Services within 12 sitting days after the incorporation of the company.

All money required to be paid by the Ministers on subscribing or applying for, or being allotted, equity securities or debt securities of the company shall be paid for out of the Consolidated Account or Loans Account out of money appropriated by Parliament for the purpose.

The Ministers may from time to time exercise all or any of the Crown’s rights and powers as the holder of any equity securities or any debt securities of the company.

On and after the vesting day the company shall be deemed to be an airport company within the meaning, and for the purposes, of the Airport Authorities Act 1966.

Subsection (6) is subject to clause 39 of Schedule 1 of the Civil Aviation Act 2023.

Nothing in section 134 of the Companies Act 1955, section 3A of the Airport Authorities Act 1966, or sections 228 to 230 of the Civil Aviation Act 2023 applies to the company.

Equity securities and debt securities issued by the company and held in the name of a person described as one of the Ministers shall be held by the person from the time being holding the office of that Minister.

Notwithstanding any other enactment or rule of law, it shall not be necessary to complete or register a transfer of securities upon a change in the person holding the office of the shareholding Minister.

A Minister may at any time or times, by written notice to the company, authorise, on such terms and conditions as are specified in the notice, such person as the Minister thinks fit to act as the Minister’s representative at any or all of the meetings of shareholders of the company or of any class of such shareholders, and any person so authorised shall be entitled to exercise the same powers on behalf of the Minister as the Minister could exercise if present in person at the meeting or meetings.

Notwithstanding the Companies Act 1955, but subject to subsection (3), the company may be formed or reconstituted as if the reference to the figure “7” in section 13(1) of the Companies Act 1955 were a reference to the figure “2”.

In the application of the Companies Act 1955 to the company, the following provisions of the Companies Act 1955 shall, subject to subsection (3), be construed as if references therein to 7 members were references to 2 members:

Subsections (1) and (2) shall have effect only if all equity securities in the airport company are held by—

and shall cease to have effect upon the transfer of any equity securities in the airport company to any other person.

Nothing in section 4 limits the persons who may subscribe for, hold, acquire, or dispose of any equity securities or debt securities issued by the company.

The Ministers may, at any time or times, prepare a list or lists specifying the airport assets and airport liabilities which in the opinion of the Ministers should be vested in the company in accordance with this Act.

Every list prepared under subsection (1) shall—

The Governor-General may, at any time or times, by Order in Council, vest in the company on a date specified in the order the airport assets and airport liabilities specified in the order, being assets and liabilities set out in a list prepared pursuant to subsection (1) and which is referred to in the order.

Every Order in Council under subsection (3) shall—

On the date specified in the Order in Council pursuant to subsection (4)(c) the company shall—

Equity securities issued by the company under subsection (5) shall be issued—

except that on the first issue of such equity securities under paragraph (a) the equity securities issued shall be reduced by the number of equity securities subscribed for and issued on the incorporation of the company.

Debt securities issued under subsection (5) shall be issued—

Nothing in subsections (1)(b) and (2) of section 60 of the Companies Act 1955 shall apply in respect of equity securities issued pursuant to subsection (5) of this section.

Assets that are fixed to, or are under or over, any land may vest in the company under this Act notwithstanding that no interest in the land also vests in the company under this Act and in any such case the asset and the land shall be regarded as separate assets each capable of separate ownership.

An order under subsection (3) is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Nothing effected or authorised by this Act—

Where an asset or liability is vested in the company under this Act—

District Land Registrars are hereby authorised and directed to make such entries in their respective registers and do everything necessary to give effect to the vesting of any land or any estate or interest in land under this Act.

The provisions of this Act vesting any assets or liabilities in the company shall have effect notwithstanding any enactment, rule of law or agreement and, in particular, but without limitation, the provisions of this Act vesting any land in the company shall have effect notwithstanding any provision contained in the Land Act 1948, the Reserves Act 1977, or the Public Works Act 1981 or in any other Act relating to land.

Where land has been transferred to the company under this Act, sections 40 and 41 of the Public Works Act 1981 shall, after that transfer, apply to the land as if the company were the Crown and the land had not been transferred under this Act.

A certificate, signed by the Chief Surveyor for the land district in which the land is situated, that any land described in the certificate, or described in any document on which the certificate appears, is land to which subsection (4) applies shall be sufficient evidence, in the absence of proof to the contrary, that that subsection applies to the land.

Where by virtue of this Act any land vests in the company the land shall vest in the company for an estate in fee simple subject to all leases, agreements to lease, and easements existing in respect of any part of that land immediately before the land vests in the company but otherwise freed and discharged from all trusts and reservations affecting it.

The Local Authorities (Employment Protection) Act 1963 shall apply, with effect on and from the vesting day, in respect of the employees of the Auckland Regional Authority as if—

No person to whom the Local Authorities (Employment Protection) Act 1963 applies by virtue of subsection (1) shall be entitled to receive any payment or other benefit, not being a payment or benefit to which that person is entitled under that Act, by reason only of the application of that Act to that person.

Nothing in the Local Authorities (Employment Protection) Act 1963 (as applied by subsection (1)) shall affect any rights or liabilities under any provident, benefit, superannuation, or retirement fund or scheme of any person to whom that Act applies.

Subject to subsection (2), on the vesting day the joint venture agreements shall, by virtue of this section, be deemed to be unenforceable and of no effect.

Nothing in subsection (1) limits or affects the liability of any person for breach of the joint venture agreements by reason of any act or omission before the vesting day.

Notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, the Minister of Finance may, from time to time, by notice in writing to the Auckland Regional Authority require the Authority to pay to the Crown and the constituent authorities such amount as shall be specified in the notice from the airport reserves or transfer to the Crown and the constituent authorities such securities in which the reserves are held as may be so specified, as the case may be.

Every notice given under subsection (1) shall be published in the Gazette.

On the date specified in the notice, not being a date earlier than 28 days after the notice is given, or on such later date as may be agreed to by the Minister at the request of the Authority, the Auckland Regional Authority shall, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, pay to the Crown and the constituent authorities the amount specified in the notice or transfer to the Crown and the constituent authorities the securities specified, as the case may be.

Subject to subsection (5), the amount required to be paid or the securities required to be transferred by the Auckland Regional Authority pursuant to a notice under this section shall be paid or transferred—

In the case of the reserves comprised in the Airport Development Reserve, the amount required to be paid or the securities required to be transferred by the Auckland Regional Authority pursuant to a notice under this section shall be paid or transferred—

Where all or any money payable under this section is not paid or securities required to be transferred are not transferred, as the case may be, on or before the date specified in the notice or otherwise agreed by the Minister as the date for payment or transfer, the Auckland Regional Authority shall pay interest to the Crown and the constituent authorities in the proportions referred to in subsection (4) or subsection (5), as the case may be, at such rate as shall be specified by the Minister.

A notice may be given under this section whether or not the company has been formed and registered and whether or not the vesting day has been specified.

All money paid to the Crown pursuant to this section shall be paid into the Consolidated Account and may, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, be used by the Crown for such purposes as the Crown thinks fit.

Any securities transferred to the Crown pursuant to this section may, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, be retained, or sold, or otherwise disposed of by the Crown.

Any amount paid to the Crown on redemption of such securities or on the sale or other disposition of such securities and any interest received in respect of such securities shall be paid into the Consolidated Account and may, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, be used for such purposes as the Crown thinks fit.

Any money paid to a constituent authority pursuant to this section may, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, be used by that constituent authority for such purposes as it thinks fit.

Any securities transferred to a constituent authority pursuant to this section may, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, be retained, or sold or otherwise disposed of by that constituent authority.

Any amount paid on redemption of such securities or on the sale or other disposition of such securities and any interest received in respect of such securities, may, notwithstanding the Civil Aviation Act 1964, any other enactment, rule of law, deed or agreement, be used for such purposes as the constituent authority thinks fit.

The Crown and the constituent authorities shall indemnify the Auckland Regional Authority for any liability in respect of any assets or liabilities vested in the company under this Act.

The liability of the Crown under this section shall be 50% and each of the constituent authorities shall be liable according to its shareholding percentage.

Nothing in subsection (1) shall relieve any person of any liability under a policy of insurance.

The Crown, the Auckland Regional Authority and every constituent authority shall at all times do everything in their power to achieve the objectives of this Act and for that purpose, but without limitation, shall do everything in their power to—

The Auckland Regional Authority shall not, without the written consent of the Ministers,—

The Minister of Finance or the Minister for State-Owned Enterprises may, from time to time, require the Auckland Regional Authority or any constituent authority to make available to that Minister information in its possession or over which it has control relating to the assets, liabilities, management or operation of the airport and the Auckland Regional Authority or that constituent authority shall make that information available to the Minister.

All information required to be made available under this section shall be made available in a form in which it may be readily understood.

Amendment(s) incorporated in the Act(s).

Amendment(s) incorporated in the Act(s).

Amendment(s) incorporated in the Act(s).