Whatever the legalities, I think that a good practice would be never to release anything into a natural waterway, particularly for "feel good" reasons.
Imagine the scenario: your fancy guppies have a new bug with which they just arrived from Singapore, you use the same net to handle them as you use to handle inanga, inanga gets the bug, you put inanga back into the waterway you took it from, now, the bug is in the waterway ...
Regarding the legalities of taking fish out of a waterway, I believe that the legalities involved in catching whitebait are well understood. Hence, taking them out of a waterway in whitebait season is not an issue at all, for as long as you follow the regulations regarding whitebait (and, basically, do what other people do). There is a degree of uncertainty as to whether one is allowed to keep them in a tank rather than frying them.