The Commission, pursuant to section 81, exempts
Mr Samford Lee Maier (Jnr) from the application of section 17 of the Electricity Industry Reform Act 1998, in relation to a prohibited cross-involvement in an electricity lines and an electricity supply business.
The exemption is subject to the following terms and conditions:
(a) Mr Samford Lee Maier (Jnr) shall exclude himself, on the basis of a legal conflict of interest, from any discussion about, or consideration of, advice by New Plymouth Equity Advisers Limited ("NPEAL") concerning any relationship or transactions which Powerco has or proposes to have with any electricity retailer or generator.
(b) After one year from the date of this exemption, NPEAL shall provide the Commerce Commission with copies of all advice it has provided that relates to Powerco.
The Commission may vary or revoke this exemption in accordance with section 81 (5) of the Electricity Industry Reform Act 1998.
The exemption takes effect from the date of publication of this notice in the New Zealand Gazette.