Providing your mains supply in New Zeland is 230V the PAL PSU should work, but do check what is printed on the underside.
The problem you may have is that your CD32 is NTSC (60 Hz interlaced) and your TV is PAL (50 Hz Interlaced). Unless you use the S-Video or maybe composite output, you will only see a black and white picture. I forget something, most PAL TVs can synchronise to 60 Hz.
Re: the CD32 adaptor. I have made my own for 1.50 UKP, been working fine for years. Details on my website of how to make your own.
HTH
Ian
