Pursuant to section 16 of the Accident Insurance (Transitional Provisions) Act 2000, I, The Honourable
Dr Michael Cullen, Treasurer/Minister of Finance, do hereby give notice that the following assets and liabilities of At Work Insurance Limited are excluded assets and excluded liabilities for the purposes of that section and will not vest in the manager:
Excluded Assets and Liabilities
1. Employment contracts between At Work Insurance Limited and employees of At Work Insurance Limited at 30 June 2000 and all associated liabilities and contingent liabilities for salaries including at risk portion, holiday pay, severance costs and accident insurance costs.
2. Executive leasing agreements and contracts for the provision of contract and temporary personnel between At Work Insurance Limited and personnel agencies at 30 June 2000 and all associated liabilities for payments under these contracts.
3. Liability for directors fees and expenses.
4. Amounts payable by At Work Insurance Limited to, or receivable by At Work Insurance Limited from, the Inland Revenue Department in respect of taxation liabilities and refunds for:
? Income Tax
? Foreign Dividend Withholding Payment
? Foreign Insurers Agent Withholding Payments
? Goods and Services Tax
? Non Resident Withholding Tax
? Resident Withholding Tax
? PAYE relating to employment contracts
? Fringe Benefits Tax
? Imputation Credits
5. Bank accounts, debit and credit balances, and deposits held in nominated bank accounts at ASB Bank Limited.
6. Management Agreement dated 30 June 1999 with an Investment Mandate granted on 19 January 2000 to AMP Asset Management Limited, Investments in the Capital Investment Fund managed by AMP Asset Management Limited, and related accrued income and investment management fees.
7. Directors and Officers Liability Insurance policies.
8. Arrangements for provision of legal, actuarial, taxation and audit services relating to the disestablishment of At Work Insurance Limited and related sundry creditors or accrued costs at 30 June 2000.
9. The Transition Operating Agreement between the Accident Compensation Corporation and At Work Insurance Limited and related accrued costs or cost recoveries.
10. The portion of the disestablishment costs provision at 30 June 2000 relating to excluded assets and liabilities.
11. The general corporate and statutory records relating to the Board of Directors and the financial management of At Work Insurance Limited.
Dated at Wellington this 12th day of June 2000.
Signed by the Treasurer/Minister of Finance:
THE HONOURABLE DR MICHAEL CULLEN.