Pursuant to section 48 of the Securities Act 1978, the Securities Commission gives the following notice.
N o t i c e
1. The Securities Commission approves Geoffrey James Crichton Clark to act as a trustee for the purposes of the Securities Act 1978 in respect of an offer of debt securities by Plastic Retailers (NZ) Limited ("PRNZ") to be made in a registered prospectus dated on or around 24 August 2001.
2. This notice comes into force on the day after the date of its publication in the New Zealand Gazette.
3. The approval is given subject to the following conditions:
(a) That the aggregate amount of the principal sums owing under debt securities allotted by PRNZ to the public does not exceed $150,000.00;
(b) that PRNZ is unconditionally obligated to repay
the shareholder advances within 24 months of first issue;
(c) that Geoffrey James Crichton Clark is not at any time a member of any scheme of which PRNZ is the manager;
(d) 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 PRNZ or any scheme of which PRNZ is the manager, otherwise than in connection with the performance of his functions and powers as trustee;
(e) that Geoffrey James Crichton Clark does not at any time control or have the right to control, directly or indirectly, PRNZ or any scheme of which PRNZ is the manager, otherwise than in connection with the performance of his functions and powers as trustee;
(f) that Geoffrey James Crichton Clark does not at any time hold any securities issued by PRNZ;
(g) that no relationship exists at any time between Geoffrey James Crichton Clark and PRNZ or any scheme of which PRNZ is the manager that affects, or is likely to affect, his ability to perform his functions and powers as trustee; and
(h) that Geoffrey James Crichton Clark maintains satisfactory professional indemnity insurance in respect of the exercise of his functions and powers as trustee.
Dated at Wellington this 23rd day of August 2001.
[L.S.]
The common seal of the Securities Commission was hereunto affixed in the presence of:
M. R. H. WEBB, Chairperson.