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There will always be a set amount of majors unless there aren't anymore left in the world with the criteria needed and whenever you kill someone who was on that list (note capitulated enemies count as "killed") a new nation gets bumped up.
You beat the UK prior to WW2 and got an early peace treaty going before France joined the Allies, but in said peace deal you did not annex New Zealand or change their idology (most likely because you didnt fight any of their troops and thus they were not on the table), they became the new leader of the Allied faction.
Leaders of Factions automatically become Majors, the lack of factories does not factor into it because someone has to lead the Allies.
Canada usually becomes the faction leader of the Allies in the event of the UK falling alone ... But im gonna assume you took Canada in the peace treaty (becasue you'll usually fight their men when invading the UK) which put them on the table for annexation / puppeting allowing you to get a footing in north America in order to beat the US in 41. With Canada out of the picture the leadership of the Allies is a toss up between NZ and Aus, you can't get to either so it's a moot point really.
This is how iv'e seen NZ become leader of the Allies at any rate. Only in my games I have TFV going as well (you may too, I don't know) and NZ usually has higher autonmey after Canada and therefore are the closest to being independant, which might be the overall deciding factor, India and Malaya are not even the same level of puppet and Australia starts on the same but typically lowers theirs via lend leaseing equipment with the UK.
Fair enough I got the context of the war wrong (and forgot SA who i've seen lead the Faction a few times as well), but not the outcome, which is that NZ was not annexed in the peace treaty because you did not capture their lands or fight any of their divisions.
Thus the Allied faction was allowed to still exist, and NZ, as they only nation left in the Allies, became the leader of it which automatically gives them the staus of Major. Which bypasses all factory quota's. Something that could probably do with being looked at in the future? sure perhaps a 'disband faction' option on the peace table, but it's not a bug or an oversight as there is easily traceable logic behind it.