28 Restrictions on disposal of shares in Ports of Auckland Limited

  (1)  ARH must adopt the special consultative procedure in relation to any
proposal of ARH to sell or otherwise dispose of the ownership or control of any
shares held by it in Ports of Auckland Limited.

  (2)  ARH must not sell or otherwise dispose of the ownership or control of
more than 24.9% of the shares in Ports of Auckland Limited that are vested in
it under section 29 unless the conditions in subsection (3) are satisfied.

  (3)  The conditions are---

      (a)  that ARH holds a poll of the residential electors of the Auckland
Region on whether it should be permitted to do so; and

      (b)  that in any such poll a majority of valid votes are cast in favour
of ARH being permitted to do so.

  (4)  ARH may hold more than 1 poll for the purposes of this section.

  (5)  In relation to a poll held under this section, ARH is responsible for---

      (a)  the costs of the poll; and

      (b)  giving the necessary directions to the Returning Officer for each
territorial authority district within the Auckland Region.

  (6)  A poll held under this section is to be treated as if it were a poll
under the Local Electoral Act 2001, and the provisions of that Act, as far as
they are applicable and with the necessary modifications, apply accordingly.