vent their past operation from being invalid if they are revoked before, and not confirmed by, the deadline). Under the existing provisions, a confirming Act is required within 12 months of the instrument being presented to the House of Representatives. Under the new standard provisions, a confirming Act is required,—
●if the instrument is made during the first half of a year, by the middle of the next year; and
●if the instrument is made during the second half of a year, by the end of the next year.
Consultation process
The amendments in the Bill to Part 1 of the Act are a technical revision or consolidation to improve clarity and navigability, and facilitate the operation of confirmation by Act.
The proposed amendments do not affect the Act’s underlying policy; they only standardise, and continue with limited technical changes, confirmation by Act. Consultation has therefore not been undertaken with the parties that are in agreement with the Part proposed to be amended (as listed in Schedule 4 of the Act). These are the Green Party, the New Zealand Labour Party, the New Zealand National Party, the Progressive Coalition Party (which was deregistered as a political party in 2012), and United Future New Zealand.
No consultation was undertaken with the Guardians of New Zealand Superannuation, as the Bill does not propose to amend Part 2 of the Act.
Clause by clause analysis
Clause 1 is the Title clause.
Clause 2 relates to commencement. Part 2 and Schedules 1 to 3 (confirmable instruments) are to come into force on 1 January 2016. Other provisions, including Part 1 (annual confirmation and validation), come into force on the day after the date of Royal assent.
Part 1
Confirmation and validation provisions
Subpart 1—General and technical provisions
