NO

ASPECTS

DESCRIPTION

1.

Legal and Regulatory Framework

New Zealand has no specific laws or regulations with govern PPP procedure and implementation. However, the following government publications mandate the consideration of PPP procurement.

• Cabinet Office Circular on Capital Asset Management - which sets out the government's expectations for the approval of, and assurances relating to, major capital projects. (www.treasury.govt.nz/statesector/investmentmanagement)

• Government Rules of Sourcing - which govern the planning and execution of procurement by government agencies in New Zealand. (http://www.business.govt.nz/procurement/for-agencies/key-guidance-for-agencies/the-new-government-rules-of-sourcing)

In addition, the following legislation is relevant:

• Public Finance Act 1989 - which specifies the principles for responsible fiscal management effective and efficient management of public financial resources.

• Overseas Investment Act 2005 - which specifies the criteria for consent, and conditions to be met, for overseas persons to own or control sensitive New Zealand assets.

New Zealand legislation can be accessed at: www.legislation.govt.nz

2.

Involved Government Agencies

New Zealand's centre of PPP expertise is the PPP Team within the New Zealand Treasury. The Treasury PPP Team is responsible for the New Zealand PPP model and policy and is actively involved in the execution of all PPP transactions.

Each agency retains responsibility for the delivery of their own project, however the Treasury PPP Team provides hands on PPP and commercial negotiation support within the project team to bring experience across the PPP programme and ensure preservation of PPP principles and policy.

To date, the following government agencies have entered into PPP transactions directly:

• The Ministry of Education

• The Department of Corrections

• The New Zealand Transport Agency

Certain projects will also require involvement from monitoring agencies (such as the Ministry of Transport in respect of all transport PPP projects) while the Treasury will provide monitoring or second opinion advice in relation to all PPP projects.

3.

Supporting Agencies

New Zealand government agencies instruct specialist (private sector) legal, commercial, financial and technical advisors to assist with PPP transactions. A conflict of interest management framework applies in respect of all advisors.