Notice Type
Departmental
Notice of Direction I hereby give notice that a direction has been given to the Board of the Earthquake Commission regarding the hedging of the Earthquake Commission's foreign-exchange exposure. ``Pursuant to section 12 of the Earthquake Commission Act 1993, I make the following direction as to the policy to be followed by the Commission in the exercise of its investment powers: The Commission is not to undertake any financial transactions to hedge any foreign-exchange exposure arising from investments in Foreign Bond Linked Notes. This direction supplements previous ministerial directions relating to investment policy (in particular the directions of 30 September 1988, 16 August 1993 and 17 January 1994).'' Right Hon. W. F. BIRCH, Minister of Finance.
Publication Date
14 Dec 1995

Notice Number

1995-go8345

Page Number

4773