Pursuant to section 48 (3) of the Securities Act 1978, the Securities Commission gives the following notice.
N o t i c e
1. The Securities Commission approves John Huntsbry Midgley to act as a statutory supervisor for the purposes of the Securities Act 1978 in respect of securities offered to the public for subscription by the following:
Anglican Methodist Church South Canterbury Trust;
Karadean Developments Limited;
Social Service Council of the Diocese of Christchurch; and
Windsor House Cottage Trust.
2. This notice comes into force the day after its publication in the New Zealand Gazette.
3. This notice expires on the close of 6 August 2009.
4. The approval is given subject to the following conditions:
(a) That neither John Huntsbry Midgley nor any of his employees:
(i) is at any time a shareholder or employee of an issuer or manager of a scheme under which securities are offered by any of Anglican Methodist Church South Canterbury Trust, Karadean Developments Limited, Social Service Council of the Diocese of Christchurch and Windsor House Cottage Trust;
(ii) at any time holds any office or appointment (including appointment as an auditor) or has any involvement, relationship, interest in respect of any of Anglican Methodist
Church South Canterbury Trust, Karadean Developments Limited, Social Service Council of the Diocese of Christchurch and Windsor House Cottage Trust, or any manager of any scheme offered by any of the above, otherwise than in connection with the performance of John Huntsbry Midgley's functions and powers as a statutory supervisor;
(iii) at any time controls or has the right to control, any of Anglican Methodist Church South Canterbury Trust, Karadean Developments Limited, Social Service Council of the Diocese of Christchurch and Windsor House Cottage Trust, or any manager of any scheme offered by any of the above, otherwise than in connection with the performance of John Huntsbry Midgley's functions and powers as a statutory supervisor;
(iv) at any time holds any participatory securities of any of Anglican Methodist Church South Canterbury Trust, Karadean Developments Limited, Social Service Council of the Diocese of Christchurch and Windsor House Cottage Trust, or any manager of any scheme offered by any of the above;
(b) that no relationship exists at any time between John Huntsbry Midgley and Anglican Methodist Church South Canterbury Trust; Karadean Developments Limited; Social Service Council of the Diocese of Christchurch; and Windsor House Cottage Trust, or any manager of any scheme offered by any of the above, that affects, or is likely to affect, his performance as a statutory supervisor;
(c) that while John Huntsbry Midgley holds office as a statutory supervisor he will maintain adequate professional indemnity insurance in respect of the exercise of the functions and powers of a statutory supervisor;
(d) that John Huntsbry Midgley has undertaken, and abides by that undertaking, to report to the Commission on any occurrence or change in matters material to the Commission's approval of him; and in any event, on an annual basis to the Commission by 1 March of each calendar year for the duration of his approval.
Dated at Wellington this 29th day of July 2004.
The Common Seal of the Securities Commission was affixed in the presence of:
[L.S.]
FALCON CLOUSTON, Member.