The Commerce Commission, pursuant to section 81 of the Electricity Industry Reform Act 1998 ("EIR Act"), exempts the following entities (cross-involved entities) from the application of section 17 of the EIR Act in respect of their current "cross-involvement" (as the term is defined in the EIR Act):
? Asquith Holdings Limited;
? Durran Holdings Limited;
? Durran II Holdings Limited;
? Riam Holdings Limited;
? Riam II Limited.
The exemption applies from 1 January 2004 until:
? a permanent exemption takes effect, if the Commission approves the permanent exemption under Part B of Asquith Group exemption application; or
? three months after the date of the release of the Commission's determination, if the Commission declines the permanent exemption.
The Commission may vary or revoke this exemption at any time in accordance with section 81 (5) of the EIR Act.
The exemption takes effect from the date of publication of this notice in the New Zealand Gazette.