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 Karadean Court Retirement Village Limited.
2. This notice comes into force the day after its publication in the New Zealand Gazette.
3. This notice expires on the close of 31 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 Karadean Court Retirement Village Limited;
(ii) at any time holds any office or appointment (including appointment as an auditor) or has any involvement, relationship or interest in respect of Karadean Court Retirement Village Limited or any manager of any
scheme offered by 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 Karadean Court Retirement Village Limited, or any manager of any scheme offered by 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 Karadean Court Retirement Village Limited, or any manager of any scheme offered by the above;
(b) That no relationship exists at any time between
John Huntsbry Midgley and Karadean Court Retirement Village Limited, or any manager of any scheme offered by 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 25th day of August 2004.
The Common Seal of the Securities Commission was affixed in the presence of:
[L.S.]
JANE DIPLOCK, Chairperson.
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