From the Velocity Rewards Website
Yes. Velocity allows you to use your Points for flights with Virgin Blue, Pacific Blue and Polynesian Blue for eligible family members at no additional cost. For ineligible persons, e.g. friends, an administration fee will be charged.
Eligible family members are:
• Husband/Wife
• Parents/Step-parents
• Domestic Partner/De-facto
• Children, includes foster and step-children
• Sisters/Brothers
• Grandparents/Grandchildren
• Parent, Son and Daughter In-laws