Guides
Guide to Managing Representatives
December 2011
This guide is for Account Holders who wish to add or change a Primary Representative authorised to operate their Holding Account, or change the roles assigned to their primary representatives.
Preconditions
- You will need to use a computer with internet access to navigate to www.eur.govt.nz
- You must already be a Primary Representative of the NZEUR Holding Account to which you wish to add or remove a Primary Representative
- Any Primary Representative you wish to add must already be a Registered User of the NZEUR and you will need to know their Registered User name.
Important Notes
- Authorising a person to be a Primary Representative allows them to operate the holding account including transferring emission units out of your account. When roles are assigned to primary representatives, transactions must be prepared by a preparer and then approved by an approver
- All Primary Representatives will receive notices from the NZEUR Registrar
- The Account Holder remains legally responsible for actions undertaken by an authorised Primary Representative.
Key Terms
| Term | Definition |
|---|---|
| Registered User | A person who has been authorised by the NZEUR Registrar to use the NZEUR online system, including opening Holding Accounts. |
| Account Holder | The person or organisation who is the legal owner of the Holding Account and the emission units held in it. Account Holders remain legally responsible for their Holding Account and any actions of Primary Representatives authorised to operate the Holding Account. In some cases the Account Holder will consist of one person; in other cases the Account Holder may consist of more than one person. |
| Account Holder Declaration | The Climate Change Response (Unit Register) Regulations 2008 requires an account holder to make a declaration in order to add or remove a primary representative. This declaration is contained in the Primary Representative Appointment and Removal Declaration form which must be signed by the account holder. |
| Primary Representative(s) | A person who has been authorised by the Account Holder to operate the Holding Account. Only an individual (for example, a natural person, not an incorporated body) who meets the qualifying criteria set out in the Climate Change (Unit Register) Regulations 2008, and is a Registered User of the NZEUR, will be approved as a Primary Representative. Account Holders who are individuals may nominate themselves to be the Primary Representative of their own account. Primary Representatives will receive notices from the NZEUR Registrar relating to the Holding Account. |
| Preparer | A person who has been authorised by the Account Holder to prepare transactions involving the Holding Account. |
| Approver | A person who has been authorised by the Account Holder to approve transactions involving the Holding Account. |
| Authorised Person(s) | An Authorised Person is authorised to make declarations on behalf of an Account Holder. Declarations are required to open or close a Holding Account, or to add or remove a Primary Representative. Authorised persons are appointed by using the Supplementary Authority Form attached to the Account Holder Declaration Form. |
Common Questions and Answers
What’s the difference between an Account Holder and a Primary Representative? The Account Holder legally owns the account and any emissions units in it. The Primary Representative is the person authorised to operate the account on behalf of the Account Holder. The Account Holder remains legally responsible for actions undertaken by a Primary Representative. The Account Holder can authorise themselves to be a Primary Representative if they wish to operate their own account themselves.
What can a Primary Representative do? All Primary Representatives have the same level of access rights to view Holding Account balances and undertake transactions. However, where roles have been assigned to Primary Representatives, preparers can only prepare transactions and approvers can only approve transactions – both steps are required before a transaction is completed.
Who can be authorised to be a Primary Representative? The Account Holder can authorise any named individual, who has already been approved as a Registered User of the NZEUR, to be a Primary Representative. It is very important that Account Holders give careful consideration to who they appoint as Primary Representatives for their Holding Accounts. In order to provide an additional level of protection, Account Holders may assign preparer and approver roles to Primary Representatives.
How long will it take a Primary Representative to be approved? Once the NZEUR has received an Account Holder declaration authorising a Primary Representative, approval will usually be given within two working days.
How many Primary Representatives can an Account Holder authorise? A minimum of one and a maximum of five.
Will authorising a Primary Representative cost me anything? No.
What is the difference between a Primary Representative and an Authorised Person? A Primary Representative is authorised to operate a NZEUR Holding Account. An Authorised Person is authorised to make declarations on behalf of an Account Holder. Declarations are required to open or close a Holding Account, or to add or remove a Primary Representative. Authorised persons are appointed by using the Supplementary Authority Form attached to the Account Holder Declaration Form. At least one Primary Representative is mandatory; appointing an Authorised Person is optional.
What happens if I remove a Primary Representative? The person will no longer have access to the Holding Account and will not be able to undertake transactions on that account. Holding Accounts must have at least one Primary Representative at all times.
This guide is based on the law at the date of issuance. The information in this guide does not alter the laws of New Zealand or other official guidelines or requirements. Readers of this guide should take specific advice from qualified professional people before undertaking any action following information received from this guide.
