Pursuant to section 48 of the Securities Act 1978, the Securities Commission approves Geoffrey James Crichton Clark to act as a statutory supervisor for the purposes of the Securities Act 1978 in respect of participatory securities
to be offered to the public for subscription by LD & BB Holdings Limited ("the scheme"), for a period of 5 years from the day after the date of notification in the
New Zealand Gazette or until earlier revoked by the Securities Commission.
The approval is given subject to the following conditions:
(a) That Geoffrey James Crichton Clark is not at any time a member of the scheme;
(b) that Geoffrey James Crichton Clark does not at any time hold any office or appointment (including appointment as auditor) or have any involvement, relationship or interest in respect of LD & BB Holdings Limited ("the issuer") or any manager of the scheme, otherwise than in connection with the performance of his functions and powers as statutory supervisor;
(c) that Geoffrey James Crichton Clark does not at any time control or have the right to control, directly or indirectly, the issuer or any manager of the scheme, otherwise than in connection with the performance of his functions and powers as statutory supervisor;
(d) that Geoffrey James Crichton Clark does not at any time hold any participatory securities issued by the issuer or any manager of the scheme;
(e) that no relationship exists at any time between Geoffrey James Crichton Clark and the issuer, or any manager of the scheme, that affects, or is likely to affect, his ability to perform his functions and powers as statutory supervisor; and
(f) that Geoffrey James Crichton Clark maintains satisfactory professional indemnity insurance in respect of the exercise of his functions and powers as statutory supervisor.
Pursuant to section 48 of the Securities Act 1978, the Securities Commission revokes Geoffrey James Crichton Clark's approval to act as a statutory supervisor in respect of participatory securities offered by Bush Haven Retirement Complex dated 19 May 1998.
Dated at Wellington this 25th day of June 2001.
[L.S.]
The common seal of the Securities Commission was hereunto affixed in the presence of:
C. A. N. BEYER, Member.