The Authorised Futures Dealers Notice 1997 (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 1997 (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; ``electricity price futures contract'' means: (a) a futures contract relating to wholesale prices of electricity or prices of transmission of electricity between persons who are named in clause 3 (2) (a) of this notice; (b) a futures contract relating to wholesale prices of electricity which is traded on the New Zealand Futures and Options Exchange; ``designated dealer'' means a person named in the Schedule to this notice; ``person'' for the purposes of subparagraphs (ix) and (x) of clause 3 (2) (a) of this notice includes groups of related companies as that term is defined in section 2 (3) of the Companies Act 1993. (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. Designated dealers authorised to carry on the business of dealing in futures contracts (1) Every designated dealer is hereby authorised to carry on the business of dealing in futures contracts of a specified class, namely, electricity price futures contracts. (2) The authorisation referred to in subclause (1) of this clause is subject to the following conditions: (a) That the designated dealer shall not deal in electricity price futures contracts on behalf of any person or give advice in relation to the acquisition or disposition of electricity price futures contracts to any person unless that person is (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 trade association known as the Major Electricity Users Group, or (ix) any person who purchases or sells, for resale to any other person who comes within any of the classes of person referred to in this paragraph, in excess of 10 Gwh per annum of electricity, or (x) any person who uses in excess of 10 Gwh per annum of electricity, or (xi) any person whose principal business is the investment of money or who, in the course of and for the purposes of their business, habitually invest money; and (xii) Electricity Market Company Limited and EMCO Clearing House Limited; and (b) that no electricity price futures contract, other than an electricity price futures contract traded on the New Zealand Futures and Options Exchange, is transferred, assigned or novated to any person other than a person who comes within any of the classes of person referred to in subparagraphs (i) to (xii) of paragraph (a) of this subclause. (3) The authorisation referred to in subclause (1) of this clause shall continue in force until it is revoked by the commission. 4. Revocation (1) The Authorised Futures Dealers Notice 1996 (No. 5) is hereby revoked in accordance with clause 3 (3) of that notice. Dated at Wellington this 7th day of April 1997. The common seal of the Securities Commission was hereunto affixed before me: l.s. E. H. ABERNETHY, Chairman. Schedule Capital Power Limited. Contact Energy Limited. Electricity Corporation of New Zealand Limited. Electricity Market Company Limited. Energy Brokers New Zealand Limited. Energy Link Limited. Harlow Butler (NZ) Limited. Industrial Energy Limited. MainPower New Zealand Limited. Mercury Energy Limited. Pacific Energy Limited. PowerBuy Group Limited. RMB Australia Limited. Southpower Limited. TransAlta Energy Limited. TransAlta New Zealand Limited. Trans Power New Zealand Limited. Waipori Power Generation Limited.