Rule 9.7: -
Players may stop, receive and deflect or play the ball in a controlled manner in any part of the field when the ball is at any height including above the shoulder unless this is dangerous or leads to danger.
Rule 9.10: -
Players must not approach within 5 metres of an opponent receiving a falling raised ball until it has been received, controlled and is on the ground.
The initial receiver has a right to the ball. If it is not clear which player is the initial receiver, the player of the team which raised the ball must allow the opponent to receive it.
The CAN player aerials the ball. It is safe on the way up. The NZL player, at full stretch, safely intercepts the ball when it is well above the height of his shoulder. He receives and controls the ball on the ground. His pass to his team mate is intercepted.
The attachment shows the relevant slide from the 2015 Umpire Managers Briefing for Umpires.