The Commerce Commission (“Commission”), pursuant to section 81 of the Electricity Industry Reform Act 1998 (“EIR Act”), temporarily exempts the following entities from the application of section 17 of the EIR Act:
? James Matthew Peters;
? Starline Utilities Limited;
? FIDK Trustco Limited; and
? Union Nelson (Freehold) JP Trustco Limited.
The temporary exemption applies in respect of their potential “cross-involvements” (as that term is defined in the EIR Act) which may result from the purchase by FIDK Trustco Limited of the following properties comprising part of the block known as the Finance Centre situated on the corner of Albert Street and Victoria Street, Auckland:
? Lot 2: Brookfields House;
? Lot 3: Simpson Grierson House, Auckland; and
? Lot 5: comprising Durham House, John Scott House, carparks and the podium.
The temporary exemption also applies in respect of the ownership interest of Union Nelson (Freehold) JP Trustco Limited in the properties situated at 27 Union Street and 145 and 147 Nelson Street, Auckland.
This temporary exemption takes effect from the date of publication until:
? a permanent exemption takes effect, in the event that the Commission grants a permanent exemption; or
? three months after the date of the release of the Commission’s determination, if the Commission declines to grant a permanent exemption.
The Commission may vary or revoke this temporary exemption at any time in accordance with section 81 (5) of the EIR Act.
The temporary exemption takes effect from the date of publication of this notice in the New Zealand Gazette.