| Key Event and Date | Documents and/or Activity Required by the Relevant Date | Responsibility |
| 1. SOEs' Incorporation Date and Execution of Key Agreements (15 - 24 December 1998) | 1.1 Incorporation of new companies | IDGs/Treasury |
| 1.2 Approve draft Statement of Corporate Intent | SOEs/CCMAU |
| 1.3 Order in Council establishing SOEs | Executive Council |
| 1.4 Appointment of SOE Directors | Crown |
| 1.5 Ministerial Direction to ECNZ board in relation to allocation and transfer of assets to new SOEs | Crown |
1.6 Major Transactions Resolutions
- Resolution of Shareholders to enter Major Transactions for each SOE and ECNZ to execute Agreement for Sale and Purchase and transfer agreements for material contracts allocated to that SOE
| SOEs/ECNZ/Crown |
| 1.7 Ministerial approval of change to SCI for ECNZ | Crown |
| 1.8 Agreements for Sale and Purchase executed | ECNZ/SOEs |
| 1.9 Offsetting hedge contract | ECNZ/SOEs |
| 1.10 Transmission connection contract | SOEs/Transpower |
| 1.11 Intellectual Property Agreement | ECNZ/SOEs |
| 1.12 Working capital arrangements for each SOE and residual ECNZ (if required) | Crown/SOEs/ECNZ |
1.13 Debt restructuring documents signed
- Receive report from Aon Consulting NZ Acturial Limited in respect of debt restructuring
| Crown/ECNZ/SOEs |
| 1.14 Crown Guarantees/Deed of Assumption and Release re 1988 Crown/ECNZ Assets Sale and Purchase Deed | ECNZ/SOEs/Crown |
| 1.15 Appointment of new ECNZ (EAML) Directors | Crown |
| 2. Steps Prior to Settlement (21 December 1998 - 1 April 1999) | 2.1 Advice to power station employees of employment processes | ECNZ/SOEs |
| 2.2 Advice to ECNZ Managers and Administration Staff of employment processes | ECNZ/SOEs |
| 2.3 Each SOE to provide its organisation structure | SOEs |
| 2.4 SOEs to advertise positions and commence organisational build | SOEs |
| 2.5 Employee selection, transfer, termination | ECNZ/SOEs |
| 2.6 Transfer of material contracts | ECNZ/SOEs |
| 2.7 Exemptions from Public Works Act 1981 | ECNZ |
| 2.8 Corporate office refurbishment as necessary | SOEs |
| 2.9 Build market capability | SOEs |
| 2.10 Put in place risk management policies | SOEs |
| 2.11 Monitor/complete IP transfer and IT implementation | EAML |
| 2.12 Develop plan for branding and launch of company | SOEs |
| 2.13 Review adequacy of insurance arrangements | SOEs |
| 2.14 Decide delegations and governance structure | SOEs |
| 2.15 Establish new funding lines | SOEs |
| 2.16 Establishment of each SOE's superannuation scheme | SOEs |
| 2.17 Agree settlement agenda | SOEs/ECNZ |
| 2.18 Transfer of shared intellectual property | ECNZ/SOEs |
| 2.19 ECNZ to conduct business in accordance with pre-settlement obligations in Agreement for Sale and Purchase, including consultation with SOEs when required | ECNZ/SOEs |
| 2.20 Continue hedge consent process | ECNZ |
| 2.21 Any necessary hedge reallocation | ECNZ/SOEs |
| 2.22 Final asset allocations/reallocations | ECNZ/SOEs |
| 3. Settlement Date (1 April 1999) | 3.1 SOE capitalisation | SOEs/Crown |
| 3.2 SOE debt | |
| 3.3 ECNZ purchase price | |
3.4 ECNZ return of capital
- Resolutions and directors' certificates for return of capital to Crown
| ECNZ/Crown |
| 3.5 Crown guarantees in respect of debt, swaps and hedges become effective | Crown |
3.6 Transfer of assets
- Complete executed (registerable) transfers
- Original leases
- Original material agreements
- Original commercial contracts
- Documents evidencing ownership of land assets
| Crown/ECNZ |
| 3.7 Each SOE to have material damage insurance cover | SOEs |
| 3.8 Split of assets register | ECNZ |
| 3.9 Novation or assignment of commercial contracts | ECNZ/SOEs |
| 3.10 Third party intellectual property consents | ECNZ |
| 3.11 Resignations of ECNZ directors | ECNZ |
| 3.12 Order in Council that sections 4 and 5(1) of SOE Act do not apply to ECNZ | Crown |
| 4. ASAP after Settlement | 4.1 Settlement accounts and payment of adjustment and redundancy compensation | EAML |
| 5. Six months after Settlement | 5.1 SOEs to cease to use ECNZ branding | SOEs |
| 6. One year after Settlement | 6.1 Final date for transfer of intellectual property | SOEs/EAML |
| 6.2 Final Statement of Corporate Intent | SOEs |
| 6.3 Revaluation | SOEs |
| 8. Two years after Settlement Date | 8.1 Deadline for reallocation of assets | EAML/SOEs |