Notice of Indemnity Notice of indemnity given pursuant to section 59 (1) of the Public Finance Act 1989. Pursuant to section 59 (2) of the Public Finance Act 1989, the Minister of Finance makes the following statement: Under the sale and purchase agreement with Fletcher Challenge Limited (FCL) for the sale of the Forestry Corporation of New Zealand Limited executed on the twenty-first day of August 1996, I, William Francis Birch, Minister of Finance, gave an indemnity pursuant to section 59 (1) of the Public Finance Act 1989. The Crown has indemnified FCL for the costs of cleaning up environmental contamination. In respect of on-site environmental costs and losses incurred up to settlement date (27 September 1996), FCL will pay the first $30 million of any clean-up and half of the next $20 million. The Crown will pay for half of any cost over $30 million and for all costs over $50 million. The on-site environmental indemnity runs until 1 January 2020. The Crown also indemnifies FCL in respect of off-site environmental costs and losses incurred up until settlement date. The off-site environmental indemnity is unlimited as to amount and time. Dated at Wellington this 17th day of December 1996. Right Hon. W. F. BIRCH, Minister of Finance.