(1) This Act is the New Zealand Guardian Trust Company Amendment Act 2001.

(2) In this Act, the New Zealand Guardian Trust Company Act 1982 is called “the principal Act”.

This Act comes into force on the day after the date on which it receives the Royal assent.

(1) Section 2 of the principal Act is amended by repealing the definition of the term parent company, and substituting the following definition:

(2) Section 2 of the principal Act is amended by inserting, after the definition of the term property, the following definition:

(3) Section 2 of the principal Act is amended by repealing the definitions of the terms subsidiary and related company (as in force immediately before the commencement of this Act), and substituting the following definition:

Section 21 of the principal Act is deemed to have always applied on and after the commencement of the principal Act until the commencement of this Act as if—

• (a) parent company meant a holding company (within the meaning of sections 158 and 158A of the Companies Act 1955 or sections 5 and 6 of the Companies Act 1993, as the case may be) of the New Zealand Guardian Trust Company Limited:

• (b) related company had the same meaning as in section 2(5) and (6) of the Companies Act 1955 or section 2(3) and (4) of the Companies Act 1993, as the case may be:

• (c) subsidiary had the same meaning as in sections 158 and 158A of the Companies Act 1955 or sections 5 and 6 of the Companies Act 1993, as the case may be.