Notice of Approval of Ian Gordon Stuart Donald to Act as Statutory Supervisor Pursuant to the Securities Act 1978, the Securities Commission hereby approves Ian Gordon Stuart Donald of Palmerston North, chartered accountant, to act as a statutory supervisor, for the purposes of the Securities Act 1978, in respect of the issue by the Feilding-Aorangi Trust (referred to in this notice as ``the trust''), of participatory securities in respect of a scheme for the offer of units in a contributory mortgage secured over a sheep-meat plant situated in Feilding (referred to in this notice as ``the scheme''), on and the subject to, the following terms and conditions: (a) That the approval shall expire at the end of 5 years from the date of this notice; (b) That Ian Gordon Stuart Donald does not, while holding office as statutory supervisor, hold any office or appointment (including appointment as auditor) in the trust or in respect of the scheme; (c) That Ian Gordon Stuart Donald is not, while holding office as statutory supervisor, an employee of the trust; (d) That Ian Gordon Stuart Donald does not, while holding office as statutory supervisor, control or have any right to control directly or indirectly the management or affairs of the trust or the scheme otherwise than in connection with the exercise of his functions and powers as statutory supervisor; (e) That Ian Gordon Stuart Donald does not, while holding office as statutory supervisor, hold any participatory securities in respect of, or have any interest in, the scheme; (f) That while Ian Gordon Stuart Donald holds office as statutory supervisor, no relationship exists between him and the trust or the scheme that affects or is likely to affect adversely the exercise of his functions and powers as statutory supervisor; (g) That while Ian Gordon Stuart Donald holds office as statutory supervisor, satisfactory professional indemnity insurance is maintained in respect of the exercise of his functions and powers as statutory supervisor. Dated at Wellington this 12th day of October 1993. l.s. The common seal of the Securities Commission was hereunto affixed in the presence of: P. D. McKENZIE, Chairman.