Notice of Indemnities Given Pursuant to Section 59 (1) of the Public Finance Act 1989 Trans Power Separation Pursuant to section 59 (2) of the Public Finance Act 1989, the Minister of Finance makes the following statement: In or about June 1994, the Minister of Finance, as part of the separation of Trans Power New Zealand Limited (Trans Power) from the Electricity Corporation of New Zealand Limited (ECNZ), which occurred on 1 July 1994, gave indemnities to ECNZ, in respect of losses it may incur as a result of the Crown failing to comply with particular aspects of the Trans Power Sale and Purchase Agreement or as a result of changes to ECNZ's tax liability assumptions made for the purposes of the Assumption of Debt Agreement. In or about June 1994 the Minister of Finance, as part of the separation of Trans Power from ECNZ, which occurred on 1 July 1994, gave indemnities to ECNZ's directors and staff for any liability they may incur in their personal capacities in relation to the sale or sale process. Dated at Wellington this 17th day of August 1994. Right. Hon. W. F. BIRCH, Minister of Finance.