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 statutory supervisor for the purposes of the Securities Act 1978 in respect of securities offered to
the public in accordance with the provisions of the Securities Act (Retirement Villages) Exemption Notice 1999 by the following retirement village companies:
Shona McFarlane Retirement Village Limited;
Rowena Jackson Retirement Village Limited;
Ryman Wanganui Limited;
Hilda Ross Retirement Village Limited;
Grace Joel Retirement Village Limited;
L D & B B Holdings Limited;
Maryville Courts Trust Board; and
Ryman Napier Limited (being securities relating to interests in the Princess Alexandra Retirement Village).
2. This notice comes into force the day after its publication in the New Zealand Gazette.
3. This notice expires on the close of 21 January 2007.
4. The approval is given subject to the following conditions:
(a) That Geoffrey James Crichton Clark does not at any time subscribe to any of the securities offered by any of the retirement village companies;
(b) That Geoffrey James Crichton Clark does not
at any time hold any office, appointment (including appointment as an auditor), have any involvement, relationship or interest in respect of any of the retirement village companies, or any manager of any scheme offered by any of the retirement village companies, otherwise than in connection with the performance of his functions and powers as a statutory supervisor;
(c) That Geoffrey James Crichton Clark is not at any time an employee of any of the retirement village companies, or any manager of any scheme offered by any of the retirement village companies;
(d) That Geoffrey James Crichton Clark at no time controls or has the right to control any of the retirement village companies, or any manager of any scheme offered by any of the retirement village companies;
(e) That no relationship exists at any time between Geoffrey James Crichton Clark and any of the retirement village companies, or any manager of any scheme offered by any of the retirement village companies, that affects, or is likely to affect, his performance as a statutory supervisor;
(f) That Geoffrey James Crichton Clark maintains satisfactory professional indemnity insurance in respect of the exercise of the functions and powers of a statutory supervisor;
(g) That Geoffrey James Crichton Clark reports to the Commission on any occurrence or change in matters material to the Commission’s approvals of him; and in any event on an annual basis to the Commission by 1 March of each calendar year.
Dated at Wellington this 20th day of July 2005.
[L.S.]
The Common Seal of the Securities Commission was affixed in the presence of:
JANE DIPLOCK, Chairperson.