The Authorised Futures Dealers Notice 1996 (No. 3) Pursuant to the Securities Amendment Act 1988, the Securities Commission gives the following notice: N o t i c e 1. Title and commencement (1) This notice may be cited as The Authorised Futures Dealers Notice 1996 (No. 3). (2) This notice shall come into force on the day after the date of its publication in the New Zealand Gazette. 2. Interpretation (1) In this notice, unless the context otherwise requires: ``the Act'' means the Securities Amendment Act 1988; ``the company'' means Pacific Energy Limited. (2) Any term or expression that is not defined in this notice, but that is defined in the Act, has the meaning given to it by the Act. 3. Pacific Energy Limited authorised to carry on the business of dealing in futures contracts (1) The company is authorised to carry on the business of dealing in futures contracts of a specified class, namely, electricity supply hedge contracts. (2) The authorisation referred to in subclause (1) of this clause is subject to the following conditions: (a) The company deals in futures contracts on behalf of no person other than (i) Electricity Corporation of New Zealand Limited and any subsidiary of that company, or (ii) Contact Energy Limited and any subsidiary of that company, or (iii) an independent power producer, or (iv) an energy company as defined in section 2 (1) of the Energy Companies Act 1992, or (v) a public body as defined in section 2 (1) of the Public Bodies Contracts Act 1959, or (vi) a crown health enterprise within the meaning of the Health and Disabilities Services Act 1993, or (vii) a registered bank as defined in the Reserve Bank of New Zealand Act 1989, or (viii) a member of the major electricity users group, or (ix) any other person who purchases or sells in excess of 10 Gwh per annum of electricity. (b) The company ensures that within 3 months after each balance date it completes audited financial statements in respect of that balance date; and (c) The company makes available: (i) to the Commission when completed, and (ii) to clients on request, a copy of its audited financial statements; and (d) The company has undertaken to the Securities Commission that prior to 31 March in each year of the authorisation it will provide to the Securities Commission a written report on all material aspects of the business undertaken by it pursuant to this authorisation. (3) The authorisation granted by subclause (1) of this clause shall continue in force until it is revoked by the Commission. The common seal of the Securities Commission was hereunto affixed this 5th day of March 1996 before me: l.s. E. H. ABERNETHY, Chairman.