India Free Trade Agreement Legislation Amendment Bill

India Free Trade Agreement Legislation Amendment Bill EXPLANATORY NOTE GENERAL POLICY STATEMENT This Bill is an omnibus Bill introduced in accordance with Standing Order 267(1)(a) (dealing with an interrelated topic that can be regarded as implementing a single broad policy). The single broad policy is to amend New Zealand law as part of implementing the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, signed at New Delhi on 27 April 2026 (the FTA ). This Bill is necessary to bring the FTA into force and will enable New Zealand to implement its obligations under the FTA. Although most of the obligations in the FTA are already met by New Zealand’s existing domestic legal and policy regime, the Bill sets out a number of legislative amendments and new provisions to align New Zealand’s domestic law with certain obligations in the FTA. The Bill amends the following: the Dairy Industry Restructuring Act 2001 to enable a tariff-rate quota ( TRQ ) for albumins under the FTA to be brought within the existing licence allocation system for dairy export licences; and the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005 to increase from $100 million to $200 million the monetary threshold above which consent is required for investments by non-government investors from India in “significant business assets” in New Zealand; and the Tariff Act 1988 to provide a provisional transitional safeguard mechanism for imports from India; and the New Zealand Tariff to enable the application of the preferential tariff rates agreed in the FTA and to implement obligations relating to the tariff treatment of goods returned after repair or alteration; and the Customs and Excise Act 2018 to allow the chief executive of the New Zealand Customs Service to designate an authorised certification body to certify that goods originate in New Zealand for the purposes of the FTA; and the Customs and Excise Regulations 1996 to implement the agreed rules of origin and product specific rules of origin for goods imported from India. In addition, Part 4 of the Bill enables separate TRQ administration systems for apples, kiwifruit, and mānuka honey to be established via regulations. The intention is that Part 4 will be separated out as a separate Bill at the Committee of the Whole House stage. A copy of the FTA can be found at: https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/new-zealand-india-free-trade-agreement/text-of-the-agreement DEPARTMENTAL DISCLOSURE STATEMENT The Ministry of Foreign Affairs and Trade is required to prepare a disclosure statement to assist with the scrutiny of this Bill. The disclosure statement provides access to information about the policy development of the Bill and identifies any significant or unusual legislative features of the Bill. A copy of the statement can be found at http://legislation.govt.nz/disclosure.aspx?type=bill&subtype=government&year=2026&no=327 REGULATORY IMPACT STATEMENT A national interest analysis has been prepared that takes the place of a regulatory impact statement. The Ministry of Foreign Affairs and Trade produced the national interest analysis on 27 April 2026 to help inform the main policy decisions taken by the Government relating to the contents of this Bill. The national interest analysis was presented to the House of Representatives on 28 April 2026, in accordance with Standing Order 405(2) (presentation and referral of treaties). A copy of this national interest analysis can be found at— https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/new-zealand-india-free-trade-agreement/resources CLAUSE BY CLAUSE ANALYSIS Clause 1 is the Title clause. Clause 2 provides for the Bill to commence on a date set by an Order in Council. If the date on which the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India (the FTA ) comes into effect is known before the Bill is passed, clause 2 will be amended accordingly. AMENDMENTS TO DAIRY INDUSTRY RESTRUCTURING ACT 2001 Part 1 amends the Dairy Industry Restructuring Act 2001. Clause 4 amends the definition of quota year in section 5(1) of the Dairy Industry Restructuring Act 2001 to include the quota year for India. Clause 4 also inserts new definitions into section 5(1), and amends existing definitions, in relation to the FTA and new reserve albumin export licences. An eligible reserve albumin participant is defined as a person who is eligible to hold an albumin export licence and who,— based on their export volume history in the albumin designated market, is only entitled to receive a share of albumin export licences (not including reserve albumin export licences) that equates to a volume of less than 50 tonnes of albumins for the relevant quota year; or does not have any export volume history in the albumin designated market for that quota year. Clause 6 amends section 26AA of the Dairy Industry Restructuring Act 2001 to prohibit an eligible reserve participant from transferring any reserve export licences that have been allocated to them (this prohibition has been moved from Schedule 5B). Clause 7 inserts new section 26AB , which empowers the making of regulations to reserve 10% of albumin export licences per quota year for any eligible reserve albumin participants. New section 26AB(3) sets out the matters that the Minister of Agriculture must be satisfied of before recommending that regulations be made, including that the proposal to reserve the licences is consistent with the FTA. New section 26AB also provides that certain reserve albumin export licences must not be transferred. Clauses 8 to 11 amend various sections of the Dairy Industry Restructuring Act 2001 to refer to eligible reserve albumin participants. Clause 12 amends Schedule 5A to include India as a designated market for milk albumin. Clause 13 replaces Schedule 5B so that it includes rules for the allocation of reserve albumin export licences to eligible reserve albumin participants. The rules include a rule that the maximum number of reserve albumin export licences that an eligible reserve albumin participant can be allocated is the number of licences that equates to a volume of 50 tonnes of albumins in the albumin designated market. AMENDMENTS TO OVERSEAS INVESTMENT ACT 2005 AND OVERSEAS INVESTMENT REGULATIONS 2005 AMENDMENT TO OVERSEAS INVESTMENT ACT 2005 Subpart 1 of Part 2 amends the Overseas Investment Act 2005. Clause 15 amends section 61A of the Overseas Investment Act 2005 to add the FTA to the list of agreements that may be implemented by regulations to be made under that section. Section 61A provides for regulations regarding alternative monetary thresholds for overseas investments in significant business assets. AMENDMENTS TO OVERSEAS INVESTMENT REGULATIONS 2005 Subpart 2 of Part 2 amends the Overseas Investment Regulations 2005 to set an alternative monetary threshold of $200 million for investments in significant business assets by individuals and enterprises from India for the purpose of providing services in New Zealand. Clauses 17 to 23 — insert references to the FTA and defined terms relating to the new alternative monetary threshold: extend the ownership and control test in regulation 86 to include an India individual as a qualifying individual for the purposes of the new alternative monetary threshold: extend the existing alternative monetary threshold for type 2, type 3, and type 5 investors, provided for in regulations 92, 94, and 96B, respectively, to include India individuals and enterprises: make other minor amendments. Clause 24 amends Schedule 1AA of the Overseas Investment Regulations 2005 to provide for transitional provisions related to the alternative monetary threshold. AMENDMENTS TO TARIFF ACT 1988, TARIFF, CUSTOMS AND EXCISE ACT 2018, AND CUSTOMS AND EXCISE REGULATIONS 1996 AMENDMENTS TO TARIFF ACT 1988 Clause 26 amends the definition of free trade agreement in section 15A of the Tariff Act 1988 by adding the FTA to the list of agreements in that definition. Clause 27 amends section 15H of the Tariff Act 1988 by adding the FTA to the list of free trade agreements under which the Minister may determine that there are grounds for applying a provisional transitional safeguard measure. AMENDMENTS TO TARIFF Subpart 2 of Part 3 amends the Tariff. Clauses 29 to 31 — insert the preferential abbreviation for India into lists of preferential abbreviations in note 2 of the Tariff and the footnotes to the Tariff (which list countries whose produce or manufactured goods may enter New Zealand free of duty in defined circumstances); and insert a reference to India, and an abbreviation of its name, into the list of preferential countries and preferential abbreviations in note 3 of the Tariff. This allows preferential Tariff rates to be applied to goods imported from India. Clause 32 inserts into Part II of the Tariff a concession for goods re-entered into New Zealand after repair or alteration in India. AMENDMENTS TO CUSTOMS AND EXCISE ACT 2018 Clause 34 amends section 435 of the Customs and Excise Act 2018 to add references to the FTA and India. That section allows the chief executive of the New Zealand Customs Service to designate an authorised certification body to certify that goods originate in New Zealand for the purposes of a free trade agreement. The amendments allow an authorised certification body to be designated in respect of India. AMENDMENT TO CUSTOMS AND EXCISE REGULATIONS 1996 Clause 36 inserts new regulation 51ZZP into the Customs and Excise Regulations 1996. New regulation 51ZZP prescribes when goods are treated as the produce or manufacture of India for the purposes of the Customs and Excise Act 2018 and the Tariff Act 1988. INDIA EXPORT QUOTAS (APPLES, KIWIFRUIT, AND MĀNUKA HONEY) PRELIMINARY PROVISIONS Clause 37 provides that the purpose of Part 4 is to establish a framework for quota management systems for apples, kiwifruit, and mānuka honey. Clause 38 is the interpretation clause for Part 4 . Clause 39 provides that the transitional, savings, and related provisions in Schedule 3 apply in relation to Part 4 . Clause 40 provides that Part 4 binds the Crown. QUOTA MANAGEMENT SYSTEMS Clause 41 provides that the quota manager for each specified product (apples, kiwifruit, or mānuka honey) is either the quota manager named in regulations or, if there are no regulations, the Ministry. Clause 42 requires each quota manager to operate a quota management system and to issue export certificates. Clause 43 provides that regulations must establish a quota management system for each specified product under the FTA. A quota management system must set out the methodology for the quota manager to allocate shares of the quota under the FTA (the allocation methodology ). This clause also specifies what the allocation methodology must include. Clause 44 provides that regulations must establish a review process for decisions relating to quota allocations (other than decisions made by the Ministry in its role as quota manager). Clause 45 provides that a quota holder is only permitted to transfer or return all or part of their quota allocation in accordance with a process set out in regulations. Clause 46 sets out the minimum notification requirements for a quota manager. Clause 47 requires quota managers to provide information relating to quota allocations and export certificates to the relevant authority in India. EXPORTING SPECIFIED PRODUCTS UNDER QUOTA MANAGEMENT SYSTEM Clause 48 provides that a person is permitted to export a specified product to India under a quota management system only if they have a quota allocation and export certification for the specified product, and the export is carried out in accordance with the export certificate and any other requirements set in the quota management system. Clause 49 provides that regulations must be made that provide a system for quota managers to issue export certificates, and sets out minimum requirements for those regulations. Clause 50 provides that a quota manager may cancel, suspend, or refuse to issue an export certificate in certain circumstances. Clause 51 provides that a person may seek a review of a quota manager’s decision to cancel, suspend, or refuse to issue an export certificate. The quota manager must appoint a reviewer, who must consider the matter and determine whether to confirm or withdraw the decision being reviewed. Clause 52 provides that a person may appeal a reviewer’s determination in the High Court. GENERAL PROVISIONS Clause 53 provides that a quota manager may require quota holders and applicants for quota allocations to provide information for certain purposes. Clause 54 authorises the Ministry, quota managers, and the New Zealand Customs Service to share information, including commercially sensitive information, for certain purposes. Clause 55 requires each quota manager (other than the Ministry) and any other person involved in making related decisions to manage any conflicts of interest in accordance with a management process. Clause 55 also sets out what the process must include, and provides that regulations may specify additional technical or operational requirements. Clause 56 provides that a quota manager may audit a quota holder in accordance with an audit process prescribed in regulations. Clause 57 provides that the Minister may commission an audit of a quota manager. Clause 58 requires a quota manager or quota holder that is being audited to provide records, documents, or other information for the purposes of the audit. Clause 59 provides various offences under Part 4 , and the maximum fines for those offences. Clause 60 provides that, for an offence under clause 59(1)(a) to (c) , the prosecution is not required to prove the defendant’s intent. Clause 61 provides a defence for any proceedings for an offence under clause 59 , and the process that the defendant must follow to rely on the defence. Clause 62 provides that a search warrant can be issued in certain circumstances. Clause 63 provides that the Ministry or a quota manager may authorise individuals to execute search warrants. Clause 64 protects an authorised person from civil or criminal liability when exercising a power under Part 4 . Clause 65 provides that regulations may set a fee, or authorise quota managers to set a fee, to recover quota managers’ costs. Clause 66 provides that regulations may set a levy, or authorise quota managers to set a levy, to fund the costs associated with co-operation activities under the FTA. Clause 67 provides that a quota manager may refuse to perform or exercise a function, power, or duty until a fee or levy is paid. Clause 68 provides that a quota manager can recover any unpaid fee or levy as a debt due. Clause 69 authorises the Governor-General, by Order in Council, to make regulations under Part 4 . Clause 70 provides that neither the Crown nor a quota manager is liable for any loss or damage that is beyond their control. Clause 71 sets out how a quota manager may give a written notice or an authorisation. Clause 72 provides that clause 73 amends the Kiwifruit Export Regulations 1999. Clause 73 amends regulation 33 of the Kiwifruit Export Regulations 1999 to specify that a function of the New Zealand Kiwifruit Board is to be a quota manager under Part 4 , if it is appointed to do so. The Parliament of New Zealand enacts as follows: 1 Title This Act is the India Free Trade Agreement Legislation Amendment Act 2026 . 2 Commencement This Act comes into force on a single date set by Order in Council. An Order in Council made under this section is secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements). 3 Principal Act This Part amends the Dairy Industry Restructuring Act 2001. 4 Section 5 amended (Interpretation) In section 5(1), definition of eligible participant , paragraph (b), after reserve export licences , insert and reserve albumin export licences . In section 5(1), definition of export licence , after reserve export licence , insert and a reserve albumin export licence . In section 5(1), definition of quota year , paragraph (a), before the European Union , insert India, . In section 5(1), definition of total export volume history , replace eligible participants and eligible reserve participants with eligible participants, eligible reserve participants, and eligible reserve albumin participants . In section 5(1), insert in their appropriate alphabetical order: albumin designated market means the tariff quota for albumins of New Zealand origin, as provided for in the TRQ on Albumins, paragraph 5, Section B, Annex 2A of the India FTA, including any amendment or any successor to that annex albumin export licence means an export licence for the albumin designated market albumin reserve portion means the portion of available albumin export licences that have been reserved under regulations made under section 26AB eligible reserve albumin participant , in relation to the allocation of reserve albumin export licences, means a person who— a is eligible to hold an albumin export licence; and b based on their export volume history, is one of the following: i a person who does not fall within the definition of eligible participant for the albumin designated market because they do not meet the criteria set out in paragraph (b) of that definition: ii an eligible participant who is only entitled to receive a share of albumin export licences (not including reserve albumin export licences) that equates to a volume of less than 50 tonnes of albumins for the quota year that the participant is applying for India FTA means the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026 reserve albumin export licence means an albumin export licence that has been reserved under regulations made under section 26AB 5 Cross-heading above section 24 replaced Replace the cross-heading above section 24 with: Export licences 6 Section 26AA amended (Reserve export licences) After section 26AA(3), insert: 3A An eligible reserve participant who is allocated reserve export licences under clause 4(1)(b) or 5(1) of Schedule 5B must not transfer those reserve export licences under section 28A . 7 New section 26AB inserted (Reserve albumin export licences) After section 26AA, insert: 26AB Reserve albumin export licences 1 For the purposes of this section, the definition of albumin export licence in section 5 does not include a reserve albumin export licence. 2 The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations that reserve 10% of albumin export licences per quota year for any eligible reserve albumin participants. 3 Before making a recommendation under subsection (2) , the Minister must be satisfied that— a there is demand for reserve albumin export licences from eligible reserve albumin participants; and b there is evidence that eligible reserve albumin participants will be able to use those reserve albumin export licences; and c the proposal to reserve the albumin export licences is consistent with— i the India FTA; and ii the purpose in section 21(1) ; and d consultation has been undertaken with holders of albumin export licences to ascertain— i the potential impact that reserving albumin export licences will have on their business; and ii their views on the creation of an albumin reserve portion. 4 An eligible reserve albumin participant who is allocated reserve albumin export licences under clause 4(1)(c) or 6(1) of Schedule 5B must not transfer those reserve albumin export licences under section 28A . 5 Regulations made under this section are secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements). 8 Section 27 amended (Quota compliance programmes) In section 27(1), replace eligible participants and eligible reserve participants with eligible participants, eligible reserve participants, and eligible reserve albumin participants . 9 Section 29G amended (Power to require information) In section 29G(1), after eligible reserve participant, , insert eligible reserve albumin participant, . Replace section 29G(3) with: 3 An eligible participant, eligible reserve participant, eligible reserve albumin participant, or employee or agent of a participant may not refuse to answer a question under subsection (1) on the ground that the answer would be likely to incriminate the eligible participant, eligible reserve participant, or eligible reserve albumin participant. In section 29G(4), replace eligible participant or eligible reserve participant with eligible participant, eligible reserve participant, or eligible reserve albumin participant in each place. 10 Section 29H amended (Power to audit export volume history) In section 29H(1), replace eligible participant or eligible reserve participant with eligible participant, eligible reserve participant, or eligible reserve albumin participant . 11 Section 42 amended (Disclosure of information) In section 42(2)(b), replace eligible participant or eligible reserve participant with eligible participant, eligible reserve participant, or eligible reserve albumin participant . 12 Schedule 5A amended In Schedule 5A, insert as the final item: The following table is small in size and has 3 columns. This table amends Schedule 5A of the Dairy Industry Restructuring Act 2001 and should be read with that table to provide understanding of the context. India FTA tariff quota India Milk albumin, including concentrates of 2 or more whey proteins Destined for import into India under the tariff quota for albumins of New Zealand origin, as provided for in the TRQ on Albumins, paragraph 5, Section B, Annex 2A of the India FTA, including any amendment or any successor to that annex. 13 Schedule 5B replaced Replace Schedule 5B with the Schedule 5B set out in Schedule 1 of this Act. 14 Principal Act This subpart amends the Overseas Investment Act 2005. 15 Section 61A amended (Regulations regarding alternative monetary thresholds for overseas investments in significant business assets) After section 61A(1)(k), insert: l the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026. 16 Principal regulations This subpart amends the Overseas Investment Regulations 2005. 17 Regulation 84 amended (Introduction to Part 5) After regulation 84(3)(i), insert: j the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026 (the India FTA ). 18 Regulation 85 amended (Definitions) In regulation 85(1), insert in their appropriate alphabetical order: India branch means a branch of an enterprise if the branch— a is located in the India territory; and b is carrying out business activities in the India territory India enterprise means an enterprise that is constituted or organised under the law of India India individual means a natural person who— a is a national of India; or b has the right of permanent residence in India as defined by subparagraph (ii) of the definition of natural person of a Party in Article 8.1(i) of the India FTA India territory means the territory of India as defined by Article 1.2(q)(i) of the India FTA In regulation 85(1A), after Hong Kong CEP , , insert India FTA , . 19 Regulation 86 amended (Definition of ownership and control test) In regulation 86(2)(b), replace or a Hong Kong individual with a Hong Kong individual, or an India individual . In regulation 86(2)(c) and (da), replace or a UAE individual with a UAE individual, or an India individual . 20 Regulation 88 amended (Introduction to subpart 2 and interaction between regulations in Part 5) After regulation 88(2)(i), insert: j Article 8.2 of the India FTA. 21 Regulation 92 amended (Definition of type 2 investor) In regulation 92(1)(a)(i), replace or a Hong Kong individual : with , a Hong Kong individual, or an India individual: . In regulation 92(1)(a)(ii), replace or a Hong Kong enterprise with , a Hong Kong enterprise, or an India enterprise . In regulation 92(1)(a)(ii)(A) and (iii)(A), replace or the Hong Kong area ; with , the Hong Kong area, or the India territory; . In regulation 92(1)(a)(iii), replace or a Hong Kong branch with , a Hong Kong branch, or an India branch . In regulation 92(3), definition of commercial presence , after Hong Kong area , insert or the India territory . 22 Regulation 94 amended (Definition of type 3 investor) In regulation 94(1)(a)(i), replace or a UAE individual with a UAE individual, or an India individual . In regulation 94(1)(a)(ii), replace or a UAE enterprise with a UAE enterprise, or an India enterprise . In regulation 94(1)(a)(ii)(A) and (iii)(A), replace or the UAE territory with the UAE territory, or the India territory . In regulation 94(1)(a)(iii), replace or a UAE branch with a UAE branch, or an India branch . 23 Regulation 96B amended (Definition of type 5 investor) In regulation 96B(1)(a)(i), replace or a UAE individual with a UAE individual, or an India individual . In regulation 96B(1)(a)(ii), replace or a UAE enterprise with a UAE enterprise, or an India enterprise . In regulation 96B(1)(a)(ii)(A) and (iii)(A), replace or the UAE territory with the UAE territory, or the India territory . In regulation 96B(1)(a)(iii), replace or a UAE branch with a UAE branch, or an India branch . 24 Schedule 1AA amended In Schedule 1AA,— a insert the Part set out in Schedule 2 of this Act as the last Part; and b make all necessary consequential amendments. 25 Principal Act This subpart amends the Tariff Act 1988. 26 Section 15A amended (Interpretation) In section 15A, definition of free trade agreement , after paragraph (j), insert: k the India FTA In section 15A, insert in its appropriate alphabetical order: India FTA means the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026 27 Section 15H amended (Provisional transitional safeguard measure) In section 15H(1)(b)(ii), replace or the EU FTA with the EU FTA, or the India FTA . 28 Principal legislation This subpart, in accordance with section 9F(1) of the Tariff Act 1988, amends the Tariff. 29 Note 2 amended In the notes to the Tariff, note 2, penultimate paragraph, after HK, , insert IN, . 30 Note 3 amended In the notes to the Tariff, note 3, after the item relating to Hong Kong, China, insert: The following table is small in size. This table is an amendment to the Tariff, note 3 and should be read with note 3 to provide understanding of the context. India IN 31 Footnotes amended In the Tariff, in each footnote, after HK, , insert IN, . 32 Part II Concessions amended In the Tariff, Part II Concessions, table, in the item relating to Concession Reference Number 66, after subsection (8), insert: The following table is small in size and has 4 columns. This table is an amendment to the Tariff, Part II Concessions and should be read with this table to provide understanding of the context. 9 Goods re-entered after repair or alteration— a in the territory of India; and b in accordance with Article 2.13 of the IN FTA. Free In the Tariff, Part II Concessions, table, in the item relating to Concession Reference Number 66, replace the item relating to DEFINITIONS with: The following table is small in size and has 4 columns. This table is an amendment to the Tariff, Part II Concessions and should be read with this table to provide understanding of the context. DEFINITIONS In this concession— EU FTA means the Free Trade Agreement between New Zealand and the European Union, done at Brussels on 9 July 2023: IN FTA means the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026: UAE CEPA means the New Zealand–United Arab Emirates Comprehensive Economic Partnership Agreement, done at Abu Dhabi on 14 January 2025. 33 Principal Act This subpart amends the Customs and Excise Act 2018. 34 Section 435 amended (Certificates of origin) After section 435(6)(d), insert: e the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026 (the India FTA ). After section 435(7)(d), insert: e in relation to the India FTA, India. 35 Principal regulations This subpart amends the Customs and Excise Regulations 1996. 36 New regulation 51ZZP and cross-heading inserted After regulation 51ZZO, insert: Provisions relating to India 51ZZP Originating goods 1 Particular goods are treated for the purposes of the Act and the Tariff Act 1988 as being the produce or manufacture of India if the goods meet all applicable requirements set out in the following provisions of the India FTA: a Chapter 3 (Rules of Origin); and b Annex 3A (Product Specific Rules of Origin); and c Annex 3B (Certificate of Origin Template); and d Annex 3C (Origin Declaration Template). 2 In this regulation, India FTA means the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India, done at New Delhi on 27 April 2026. 37 Purpose The purpose of this Part is to implement New Zealand’s obligations under the FTA by establishing a framework for a quota management system for each of the following: a apples: b kiwifruit: c mānuka honey. 38 Interpretation In this Part , unless the context otherwise requires,— apples — a means any fruit of any species of the genus Malus ; and b includes any variety of a species of the genus Malus export certificate means an export certificate— a required by section 48 to export a specified product to India under a quota management system; and b issued by a quota manager in accordance with regulations required by section 49 FTA means the Free Trade Agreement between the Government of New Zealand and the Government of the Republic of India done at New Delhi on 27 April 2026 India means the Republic of India kiwifruit means the fruit of a kiwifruit vine kiwifruit vine means a plant of the genus Actinidia mānuka honey means honey that has been certified by the Ministry as being mānuka honey Ministry means the Ministry for Primary Industries quota allocation means a share of a quota for a specified product that the quota manager has, in accordance with the relevant quota management system, allocated to an exporter quota holder means an exporter of a specified product to whom the quota manager has granted a quota allocation under a quota management system quota management system means a quota management system that— a is established by regulations made under section 69 ; and b is operated by a quota manager quota manager has the meaning set out in section 41 quota year means,— a for the year in which this Part comes into force, the period starting on the day on which the FTA enters into force and ending on 31 December of that year; and b for each subsequent year, the period starting on 1 January and ending on 31 December of that year specified product means one of the following products: a apples: b kiwifruit: c mānuka honey. 39 Transitional, savings, and related provisions The transitional, savings, and related provisions (if any) set out in Schedule 3 have effect, for this Part , according to their terms. 40 Part binds the Crown This Part binds the Crown. 41 Quota manager for each specified product The quota manager for a specified product is— a the organisation named in regulations made under section 69 as being the quota manager for the specified product; or b if no organisation has been named in regulations for the specified product, the Ministry. 42 Quota manager must operate quota management system Each quota manager must— a operate a quota management system for the purpose of allocating and operating the quota under the FTA for the relevant specified product; and b in accordance with regulations required by section 49 , issue export certificates. 43 Regulations must establish quota management system Regulations made under section 69 must establish a quota management system for 1 or more specified products under the FTA. Regulations that establish a quota management system for a specified product must specify the following: a how the quota manager allocates the quota to exporters of the specified product who apply for a share of the quota (the allocation methodology ): b the process for applicants to apply for a quota allocation of the specified product for a quota year: c the notification requirements that apply to the quota manager ( see section 46 ): d any other technical and administrative requirements for operating the quota management system. The allocation methodology must— a specify which exporters are eligible to apply for a quota allocation for a quota year; and b be an independent and transparent process for the quota manager to allocate the quota to applicants; and c be an annual process for the allocation of the quota for the specified product in a quota year; and d comply with the requirements set out in Annex 2A of the FTA. 44 Review of quota allocation decisions Regulations made under section 69 must establish a process by which an applicant for a quota allocation may seek a review of 1 or more of the following decisions made by the quota manager under the quota management system: a a decision not to grant a quota allocation to the applicant: b a decision as to the amount of the quota allocated to the applicant. However, regulations made to establish a process by which an applicant may seek a review of a quota manager’s decision must not establish a process— a to review a decision of the Ministry in its capacity as a quota manager; or b to review the allocation methodology that the quota manager used to make the decision to be reviewed. 45 Transfer or return of quota allocation A quota holder must not transfer or return all or part of their quota allocation except as provided in regulations made under section 69 . Regulations made under section 69 may specify the following: a a process for a quota holder to transfer all or part of their quota allocation for a specified product to an exporter who is eligible to apply for a quota allocation of that specified product: b a process for a quota holder to return any unused portion of their quota allocation during a quota year to the quota manager for reallocation: c if a process for returning unused quota allocation is specified, a process for the quota manager to reallocate the returned portion of the quota allocation to 1 or more other applicants. 46 Quota manager’s notification requirements A quota manager must provide notice in the Gazette and on the quota manager’s internet site of the following matters for the purposes of exporters applying for quota allocations: a the first and last days on which an applicant may apply for a quota allocation: b where and how an applicant makes an application: c the information that an applicant must include with their application: d any criteria that an applicant must ensure that their application complies with: e any procedural requirements that an applicant must comply with: f any other matters required by regulations made under section 69 . A quota manager must notify an applicant for a quota allocation of the following matters in relation to quota allocations: a the quota manager’s decisions regarding whether it grants a quota allocation to the applicant: b if the applicant’s application is successful, the amount of the quota that the quota manager has allocated to the applicant: c the applicant’s rights, if any, to seek a review of the quota manager’s decisions described in paragraphs (a) and (b) ( see section 44 ): d the latest date by which the applicant may seek a review of the quota manager’s decisions: e any other matters required by regulations made under section 69 . A quota manager must give the notice under subsection (2) in writing as soon as practicable after deciding the quota allocations. 47 Quota managers must provide information to India authority For the purpose of fulfilling New Zealand’s obligations under the FTA, a quota manager must provide the India authority with information relating to quota allocations and export certificates under this Part . A quota manager must provide the information— a in a format agreed with the India authority; and b quarterly or as otherwise agreed between the quota manager and the India authority. In this section, India authority means the entity nominated by India to receive the information provided by quota managers under this section. 48 Requirements to export under quota management system A person must not export a specified product to India under a quota management system unless— a the person has a quota allocation granted by the quota manager for the specified product; and b the person has an export certificate issued by the quota manager for the specified product; and c the export complies with— i the requirements stated in the export certificate; and ii any other applicable requirements of the quota management system. 49 Export certificates Regulations made under section 69 must provide for a system by which a quota manager issues an export certificate. The system must provide for the quota manager to issue an export certificate to a quota holder only in respect of the specified product that the quota holder exports under a quota allocation granted by the quota manager under this Part . Regulations made for the purposes of subsection (1) must, at a minimum, specify— a how a quota holder may apply for an export certificate; and b the information that a quota holder must provide to the quota manager in an application for an export certification; and c the information that an export certificate must contain; and d the date by which the quota manager must— i issue an export certificate; or ii refuse to issue an export certificate. A quota manager must issue an export certificate to a quota holder who applies for an export certificate only if— a the quota manager has granted the applicant a quota allocation for the relevant specified product; and b the applicant has a sufficient quota allocation available for the quota year; and c the applicant has complied with the prescribed requirements for making an application for an export certificate. Subsection (4) is subject to section 50 . 50 Quota manager may cancel, suspend, or refuse to issue export certificate A quota manager may, if satisfied that 1 or more of the circumstances set out in subsection (2) exist,— a cancel or suspend a person’s export certificate; or b refuse to issue an export certificate to a person. The circumstances are as follows: a the person has exported the relevant specified product to India under the quota management system, but— i without a quota allocation for the specified product; or ii in excess of their quota allocation for the specified product; or iii without an export certificate for the specified product: b the person fails to provide information to the quota manager when required to do so under section 53 : c the person fails to pay any fee payable under section 65 by the required date: d the person knowingly gives false or misleading information when required or requested to provide information under this Part . If the quota manager cancels, suspends, or refuses to issue an export certificate under subsection (1) , the quota manager must, by written notice, inform the person of the following: a that the quota manager has decided to take the action specified in the notice; and b the reasons for the quota manager taking the action specified in the notice; and c the person’s right to seek a review of the quota manager’s decision; and d that, if the person wishes to seek a review, they must do so within 10 working days after the date of the notice of the quota manager’s decision. 51 Review of decision to cancel, suspend, or refuse to issue export certificate If a quota manager decides to cancel or suspend a person’s export certificate, or to refuse to issue an export certificate to a person, the person may seek a review of the quota manager’s decision. A person who seeks a review of the quota manager’s decision must do so— a by written notice to the quota manager; and b within 10 working days after the date of the quota manager’s notice to the person under section 50(3) . If a person seeks a review, the quota manager must appoint a person or body to review the quota manager’s decision (the reviewer ). A reviewer must— a not have been involved in making the decision being reviewed; and b having reviewed the decision, determine whether to confirm or withdraw the decision being reviewed; and c within the prescribed time frame (if any), give the person who sought the review written notice of the reviewer’s determination. The written notice of a reviewer’s determination must specify the reasons for the determination. The quota manager must, as soon as practicable after receiving a reviewer’s determination, give full effect to the determination (which may include, for example, issuing or reissuing an export certificate or reversing the suspension of an export certificate). 52 Appeal against review decision A person who is dissatisfied with a decision of a reviewer under section 51 may, within 20 working days after the reviewer gives notice of their determination, appeal to the High Court against the determination. 53 Quota manager may gather information A quota manager may require the following parties to provide information to the quota manager: a a quota holder: b an applicant for a quota allocation. A quota manager may require the information only for 1 or more of the following purposes: a assessing applications for quota allocations: b determining whether to grant quota allocations: c administering the quota management system: d monitoring and enforcing compliance with— i this Part : ii regulations made under this Part : iii the relevant parts of the FTA. 54 Information sharing The following parties (the parties ) may share information with each other for the purposes of this Part : a the Ministry (whether in its capacity as a quota manager or otherwise): b each quota manager: c the New Zealand Customs Service. Without limiting subsection (1) , the parties may share information for the following purposes: a complying with this Part : b enforcing compliance with this Part : c providing advice to the Minister for the purposes of the Minister considering whether New Zealand is fulfilling its obligations under the FTA. The parties must ensure that appropriate protections are or will be in place to maintain the confidentiality of information shared under this section. The parties may share commercially sensitive information with each other under this section. Information shared under subsection (1) must not include any personal information unless the information relates to a sole trader who applies for a quota allocation. 55 Quota manager must manage conflicts of interest This section applies to the following parties (the parties ): a a quota manager, other than the Ministry: b any other person who is involved in making decisions relating to quota allocation, export certificates, compliance with this Part , or enforcement under this Part . Each of the parties must— a have a process for managing its conflicts of interest; and b manage its conflicts of interest in accordance with the process. The process must require the relevant party to— a identify any actual, potential, or perceived conflicts of interest that arise from the party’s governance, ownership, staffing, or operational arrangements; and b take reasonable steps to avoid, mitigate, or manage those conflicts of interest; and c ensure that those conflicts of interest do not adversely affect the integrity, independence, or transparency of the party’s decisions under this Part . Regulations made under section 69 may specify additional technical or operational requirements that a party must include in its process under subsection (2) . 56 Quota manager may audit quota holder A quota manager may audit a quota holder’s compliance with the following: a this Part : b regulations made under this Part : c relevant obligations under the FTA. When auditing a quota holder, the quota manager must follow a process prescribed in regulations made under section 69 . 57 Minister may commission audit of quota manager The Minister may commission an audit of a quota manager’s compliance with the following: a this Part : b regulations made under this Part : c relevant obligations under the FTA. When commissioning an audit of a quota manager, the Minister must follow a process prescribed in regulations made under section 69 . The Minister may commission an audit of a quota manager only— a in the year starting on the third anniversary of the date on which this section comes into force; and b in the year starting on the sixth anniversary of the date on which this section comes into force; and c in every fifth year after the year described in paragraph (b) . 58 Requirement to provide information for audit purposes If a quota holder or a quota manager is being audited under section 56 or 57 , it must provide the auditor with records, documents, or other information that the auditor reasonably requires for the purposes of the audit. 59 Offences A person commits an offence if the person— a exports a specified product to India under the quota management system without a quota allocation for the specified product; or b exports a specified product to India under the quota management system in excess of their quota allocation for the specified product; or c exports a specified product to India under the quota management system without an export certificate for the specified product; or d with intent to deceive, gives false or misleading information, or makes a material omission, when required or requested to provide information under this Part . A person who commits an offence— a against subsection (1)(a) to (c) is liable on conviction to a fine not exceeding $200,000: b against subsection (1)(d) is liable on conviction to a fine not exceeding $10,000. 60 Strict liability In any proceedings for an offence under section 59(1)(a) to (c) , it is not necessary for the prosecution to prove that the defendant intended to commit the offence. 61 Defence available It is a defence in any proceedings for an offence under section 59 if the defendant proves that— a the contravention was due to an event or a cause beyond the defendant’s control, including, but not limited to,— i a natural disaster; or ii mechanical or equipment failure; or iii sabotage; and b the defendant took all reasonable steps to prevent the contravention. A defendant is not entitled to rely on any event or cause referred to in subsection (1)(a) as part of a defence under this section unless— a they have served on the prosecutor notice in writing identifying the event or cause relied on; and b the notice is served no later than 10 working days before the date on which the hearing of the proceedings commences. Subsection (2) does not apply if the defendant has leave of the court to rely on the event or cause. 62 Powers of inspection to investigate offence An issuing officer (as defined in section 3(1) of the Search and Surveillance Act 2012) may issue a search warrant to an authorised person, or a constable, authorising them— a to search— i any place where a specified product is held or is likely to be held (including any place that is not a place of business); or ii any place where documents relating to a specified product are held or are likely to be held (including any place that is not a place of business); or iii any vehicle, aircraft, or ship; and b to copy any document, or part of a document, relating to a specified product found at that place, vehicle, aircraft, or ship; and c to seize any computer system or other data storage device in order to access any document, or part of a document, relating to a specified product that may be stored on that device. An issuing officer may issue the search warrant if satisfied that there are reasonable grounds to believe that— a an offence against this Part has been, is being, or is intended to be committed; and b there is evidential material in relation to the offence on or in the place, vehicle, aircraft, or ship. 63 Authorised persons The Ministry or a quota manager may authorise suitably qualified and trained individuals to execute a search warrant issued under section 62 . An authorisation must— a be made in writing; and b state that it is made under this section; and c set out the following: i the name of the individual: ii the purposes for which the authorisation is given: iii the duration of the authorisation (which may be until it is revoked). 64 Protection of authorised persons An authorised person who does any act or omits to do any act in exercising a power conferred on them under this Part is not under any civil or criminal liability in respect of the act or omission. Subsection (1) applies unless the person has acted, or omitted to act, in bad faith or without reasonable cause. 65 Regulations may provide for fees to recover quota managers' costs Regulations made under section 69 may do either or both of the following: a set a fee payable to the relevant quota manager by either or both of the following: i applicants for a quota allocation: ii quota holders: b authorise a quota manager to set a fee that is payable to the quota manager by either or both of the following: i applicants for a quota allocation: ii quota holders. Any regulations made for the purposes of subsection (1)(b) must specify— a that the quota manager must set the fee by notice in writing; and b the matters in relation to which the quota manager may set the fee; and c a methodology that the quota manager must follow to set the fee; and d a maximum level at which the quota manager may set the fee; and e a transparent fee-setting process that must include a requirement for the quota manager— i to follow the process when setting fees; and ii to consult applicants for a quota allocation and quota holders before setting the fee; and iii to notify payers of the fee being imposed; and f the accounting and reporting requirements that the quota manager must comply with in relation to— i the revenue received from the fee; and ii the expenditure of the revenue received from the fee. Fees set under subsection (1) must be solely for the purpose of recovering the costs of administering the quota management system, including— a the cost of granting quota allocations; and b the cost of issuing export certificates; and c the cost of monitoring compliance with this Part and relevant obligations under the FTA; and d any other costs associated with administering the quota management system. Fees set under subsection (1) must— a be fair and reasonable; and b provide sufficient funding for the quota manager to perform its function as a quota manager. Any regulations made for the purposes of subsection (1) may authorise the quota manager to refund or waive, in whole or in part, and on any conditions that may be prescribed, payment of a fee payable by any person or class of persons. If regulations authorise the quota manager to refund or waive a fee,— a the instrument granting the refund or waiver is secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements), unless it applies only to 1 or more named persons; and b the regulations must contain a statement to that effect. Before recommending regulations for the purposes of subsection (1) , the Minister must be satisfied that,— a in the case of regulations for the purposes of subsection (1)(a) , the recommended fees— i will provide sufficient funding for the quota manager to perform its function as a quota manager; and ii the recommended fees are consistent with the FTA; and b in the case of regulations for the purposes of subsection (1)(a) or (b) , there has been adequate consultation with any quota holders and potential applicants for quota allocations and export certificates. If regulations for the purposes of subsection (1)(b) authorise a quota manager to set a fee, the notice setting the fee is secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements). 66 Regulations may provide for levies to fund co-operation activities under FTA Regulations made under section 69 may— a set a levy that is payable to the relevant quota manager by quota holders for the purpose of funding— i the cost of performing functions required by, or associated with, co-operation activities under the FTA; and ii the administrative costs associated with, or required by, co-operation activities under the FTA; and iii the quota manager’s costs associated with administering the levy; or b authorise a quota manager to set a levy that is payable to the quota manager by quota holders for the purpose of recovering the costs described in paragraph (a) . Any regulations made for the purposes of subsection (1)(b) must specify— a that the quota manager must set the levy by notice in writing; and b the matters in relation to which the quota manager may set the levy; and c a methodology that the quota manager must follow to set the levy; and d a maximum level at which the quota manager may set the levy; and e a process that the quota manager must follow to set the levy, which process must— i be transparent; and ii require the quota manager, before setting the levy, to consult the Ministry and any person in New Zealand who is responsible for performing a co-operation activity; and iii require the quota manager to notify payers of the levy being imposed; and f the accounting and reporting requirements that the quota manager must comply with in relation to— i the revenue received from the levy; and ii the expenditure of the revenue received from the levy. A levy set under this section must be set at a level that is no greater than is required to cover the costs described in subsection (1)(a) . Any regulations made for the purposes of subsection (1) may authorise the quota manager to refund or waive, in whole or in part, and on any conditions that may be prescribed, payment of a levy payable by any person or class of persons. If regulations authorise the quota manager to refund or waive a levy,— a the instrument granting the refund or waiver is secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements), unless it applies only to 1 or more named persons; and b the regulations must contain a statement to that effect. Before recommending regulations for the purposes of this section, the Minister must be satisfied that— a there has been adequate consultation with quota holders and potential levy payers; and b the recommended levies are consistent with the FTA. In this section, co-operation activities means co-operation activities required under,— a in relation to apples, paragraph 3(g) of Section B of Annex 2A of the FTA: b in relation to kiwifruit, paragraph 4(g) of Section B of Annex 2A of the FTA: c in relation to mānuka honey, paragraph 6(h) of Section B of Annex 2A of the FTA. If regulations for the purposes of subsection (1)(b) authorise a quota manager to set a levy, the notice setting the levy is secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements). 67 Quota manager may refuse to act if fee or levy not paid A quota manager may refuse to perform or exercise a function, power, or duty until (as applicable)— a a fee prescribed in regulations made for the purposes of section 65(1)(a) is paid; or b a fee set by the quota manager under regulations made for the purposes of section 65(1)(b) is paid; or c a levy prescribed in regulations made for the purposes of section 66(1)(a) is paid; or d a levy set by the quota manager under regulations made for the purposes of section 66(1)(b) is paid. 68 Fees and levies recoverable as debt due A quota manager may recover in any court of competent jurisdiction as a debt due any fee or levy that is payable to it under regulations made for the purposes of section 65 or 66 (as applicable). 69 Regulations The Governor-General may, by Order in Council, on the recommendation of the Minister, make regulations for all or any of the following purposes: a providing for anything this Part says may or must be provided for by regulations: b providing for anything incidental that is necessary for carrying out, or giving full effect to, this Part . Before making a recommendation under subsection (1) for regulations to name a quota manager for a specified product ( see section 41(a) ), the Minister must consult stakeholders that the Minister considers to be relevant. Regulations made under this section are secondary legislation ( see Part 3 of the Legislation Act 2019 for publication requirements). 70 Exclusion of liability Neither the Crown nor a quota manager is liable to any person for any loss or damage arising from any matter that is beyond the Crown’s or the quota manager’s control. Matters that are beyond the control of the Crown or a quota manager include, without limitation,— a a decision made by India that relates to access to India of a specified product: b a reduction in the value of quota allocations, however caused. 71 Notices and authorisations A quota manager may give a person a written notice or an authorisation under this Part by— a delivering or leaving it at the person’s last known home or work address; or b emailing it to the person at their last known personal or work email address. 72 Principal regulations Section 73 amends the Kiwifruit Export Regulations 1999. 73 Regulation 33 amended (Functions) After regulation 33(1)(d), insert: e to be a quota manager for kiwifruit under Part 4 of the India Free Trade Agreement Legislation Amendment Act 2026 , if appointed to that role by regulations made under section 69 of that Act. 1 Schedule 5B of Dairy Industry Restructuring Act 2001 replaced 5B ss 26(3), 27 Rules for allocation of export licences to multiple participants for designated markets in Schedule 5A 1 Notification of application dates 1 The Minister must provide notice in the Gazette of the dates on which applications for export licences for a quota year will open and close. 2 The Gazette notice under subclause (1) must also specify the applicable Tariff headings that must be used for that quota year when submitting export volume history under clause 2 . 2 Application requirements 1 Each eligible participant must submit their export volume history for each designated market for which they are seeking an export licence, including if they are also seeking either or both of the following: a any reserve export licences as an eligible reserve participant: b any reserve albumin export licences as an eligible reserve albumin participant. 2 The eligible participant must submit the history to the chief executive (or a person authorised by the chief executive) by statutory declaration (as set out in Schedule 5C ). 3 Each eligible reserve participant who does not have any export volume history (and therefore has not submitted any data under subclause (1) ) must submit a statutory declaration in accordance with subclause (2) , confirming that they do not have any export volume history in each designated market for which they are seeking a reserve export licence. 4 Each eligible reserve albumin participant who does not have any export volume history (and therefore has not submitted any data under subclause (1) ) must submit a statutory declaration in accordance with subclause (2) , confirming that they do not have any export volume history in the albumin designated market. 5 If an eligible participant, eligible reserve participant, or eligible reserve albumin participant relies on an agent (for example, a freight forwarder or consolidator) to export their products, the following statutory declarations must also be submitted in accordance with subclause (2) : a a statutory declaration by the participant confirming their business relationship with the agent; and b a statutory declaration by the agent, or by each agent if there is more than 1,— i confirming their business relationship with the participant; and ii confirming that the data being submitted by the participant under subclause (1) accurately records what the agent exported for the participant. 3 Specific Tariff headings for certain designated markets 1 The following specific Tariff headings must be used for the purposes of calculating export volume history and total export volume history before allocating export licences to the following designated markets: a for the Japan prepared edible fat market, the Minister must use Tariff heading 0405: b for the European Union dairy processed agricultural products and high protein whey market, the Minister must use Tariff heading 0404. 2 If a Tariff heading published under clause 1(2) conflicts with the Tariff headings listed in this clause, the Tariff headings in this clause prevail. 4 Allocations 1 Subject to this clause and clauses 5 and 6 (as applicable), the Minister must allocate export licences for each designated market listed in Schedule 5A ,— a excluding any reserve export licences and reserve albumin export licences, proportionately to eligible participants based on their percentage of the total export volume history, as submitted under clause 2(1) , up to the maximum number each participant has applied for or is eligible for; and b if a portion of export licences have been reserved under regulations made under section 26AA , to eligible reserve participants up to the maximum number each participant has applied for or is eligible for; and c if a portion of albumin export licences have been reserved under regulations made under section 26AB , to eligible reserve albumin participants up to the maximum number each participant has applied for or is eligible for. 2 Unless section 27A applies, the maximum number of export licences that the Minister can allocate to an eligible reserve participant is the number that equates to a volume of 200 tonnes of the product in a designated market, whether that is— a through a combination of allocations under subclause (1)(a) and (b) ; or b allocations made only under subclause (1)(b) . Example Under subclause 2(a) , if an eligible participant is eligible for export licences to export 30 tonnes of the relevant product based on their export volume history, then they may also be allocated (as an eligible reserve participant) further export licences from the reserve portion up to an additional 170 tonnes of the product so that their total export licences equate up to 200 tonnes of the relevant product. 3 Unless section 27A applies, the maximum number of albumin export licences that the Minister can allocate to an eligible reserve albumin participant is the number that equates to a volume of 50 tonnes of albumins in the albumin designated market, whether that is— a through a combination of allocations under subclause (1)(a) and (c) ; or b allocations made only under subclause (1)(c) . Example Under subclause (3)(a) , if an eligible participant is eligible for albumin export licences to export 30 tonnes of albumins based on their export volume history, then they may also be allocated (as an eligible reserve albumin participant) further albumin export licences from the albumin reserve portion up to an additional 20 tonnes of albumins so that their total albumin export licences equates up to 50 tonnes of albumins. 4 Export licences may only be used for products for which the dairy components are derived only from New Zealand origin milk. 5 The Minister must allocate export licences— a for a period of 1 quota year; and b before the commencement of that quota year. 5 Excess or shortfall in reserve export licences applications 1 If applications for reserve export licences exceed the number of export licences available under the reserve portion, the Minister must allocate the reserve export licences equally between the eligible reserve participants, up to the maximum number each participant has applied for or is eligible for. Example There are 100 reserve export licences available for allocation. Three people apply for 20 reserve export licences each and 7 people apply for 7 reserve export licences each. That is a total of 109 reserve export licences applied for, which exceeds the number available. An even split would give each participant 10 reserve export licences. However, because 7 people have applied for only 7 reserve export licences, that means they can only be allocated 7 licences each (using 49 of the 100 reserve export licences available). This leaves 51 reserve export licences, which are then split equally between the other 3 participants. Those 3 participants would receive 17 reserve export licences each. Although they had applied for 20 reserve export licences each, there are not enough reserve export licences to meet the full number they applied for. 2 If there are excess reserve export licences after the Minister has allocated the reserve export licences under clause 4(1)(b) , the Minister must allocate the excess reserve export licences proportionately to eligible participants as though the excess were being allocated under clause 4(1)(a) . 6 Excess or shortfall in reserve albumin export licences applications 1 If applications for reserve albumin export licences exceed the number of albumin export licences available under the reserve albumin portion, the Minister must allocate the reserve albumin export licences equally between the eligible reserve albumin participants, up to the maximum number each participant has applied for or is eligible for. Example There are 100 reserve albumin export licences available for allocation. Three people apply for 20 reserve albumin export licences each and 7 people apply for 7 reserve albumin export licences each. That is a total of 109 reserve albumin export licences applied for, which exceeds the number available. An even split would give each participant 10 reserve albumin export licences. However, because 7 people have applied for only 7 reserve albumin export licences, that means they can only be allocated 7 licences each (using 49 of the 100 reserve albumin export licences available). This leaves 51 reserve albumin export licences, which are then split equally between the other 3 participants. Those 3 participants would receive 17 reserve albumin export licences each. Although they had applied for 20 reserve albumin export licences each, there are not enough reserve albumin export licences to meet the full number they applied for. 2 If there are excess reserve albumin export licences after the Minister has allocated the reserve albumin export licences under clause 4(1)(c) , the Minister must allocate excess reserve albumin export licences proportionately to eligible participants as though the excess were being allocated under clause 4(1)(a) . 7 Notification of allocations The Minister must ensure that all allocations of export licences are notified in the Gazette . 5B Rules for allocation of export licences to multiple participants for designated markets in Schedule 5A 2 New Part 15 inserted into Schedule 1AA of Overseas Investment Regulations 2005 15 Provisions relating to India Free Trade Agreement Legislation Amendment Act 2026 33 Application The amendments made by the India Free Trade Agreement Legislation Amendment Act 2026 apply only to the acquisition of rights or interests in securities or of other property, or the establishment of any business, after the commencement of that Act. 34 No refunds No person is entitled to a refund of any fee or charge paid to the regulator for a matter under Schedule 2 on the ground that the amendments made by the India Free Trade Agreement Legislation Amendment Act 2026 mean that the matter is no longer relevant (for example, that a consent that had been applied for is no longer required). 3 Transitional, savings, and related provisions for Part 4 There are no transitional, savings, or related provisions relating to this Part as enacted.