Pursuant to section 158 (4) of the Crown Entities Act 2004, I, The Honourable Dr Michael John Cullen, Minister of Finance, hereby give notice that on 15 July 2005, I gave approval, pursuant to section 158 (2) (a) (i) of the Crown Entities Act 2004, for:
1. Television New Zealand Limited holding and operating accounts with a bank in England that meets the credit?rating test specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
2. Television New Zealand Limited holding and operating accounts with a bank in Australia that meets the credit?rating test specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
3. New Zealand Trade and Enterprise holding and operating accounts with any bank outside New Zealand that meets the credit?rating test specified for
banks or building societies registered in New Zealand
in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
4. New Zealand Trade and Enterprise holding and operating accounts with any branch of the Bank of China in China, and with any branch of the Kasikorn Bank
in Thailand;
5. the New Zealand Tourism Board holding and operating accounts with any branch or subsidiary of the HSBC Group, provided that the branch or subsidiary meets the credit?rating test as specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
6. the New Zealand Tourism Board holding and operating accounts with Deutsche Bank in Frankfurt, Germany, provided that the bank continues to meet the credit?rating test as specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
7. the New Zealand Tourism Board holding and operating accounts with the Bank of Tokyo?Mitsubishi Limited
in Japan, provided that the bank continues to meet the credit?rating test as specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
8. AgResearch Limited holding and operating an account with any bank in Australia that meets the credit?rating test specified for banks or building societies registered
in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
9. AgResearch (USA) Limited holding and operating an account with any bank in the United States of America that meets the credit?rating test specified for banks
or building societies registered in New Zealand
in Regulation 7 of the Crown Entities (Financial
Powers) Regulations 2005, for the purposes of its operations in that country;
10. the Earthquake Commission holding and operating accounts with any bank outside New Zealand in line with its policies relating to the management of any of
its fund(s);
11. the Government Superannuation Fund Authority holding and operating accounts with any bank outside
New Zealand in line with its policies relating to the management of any of its fund(s);
12. the Guardians of New Zealand Super holding and operating accounts with any bank outside New Zealand in line with its policies relating to the management of any of its fund(s);
13. the Accident Compensation Corporation holding and operating accounts with any bank outside New Zealand provided that the bank meets the credit rating test as specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005;
14. Crop & Food Research Australia Pty Limited holding and operating an account with any bank in Australia
that meets a credit?rating test as specified for banks
or building societies registered in New Zealand
in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005; and
15. Paraparaumu College holding and operating an account with any bank in Australia that meets a credit?rating test equal to that specified for banks or building societies registered in New Zealand in Regulation 7 of the Crown Entities (Financial Powers) Regulations 2005, provided that no more than a total sum of AU$5,000.00 is held
in this account at any one time.
Dated at Wellington this 17th day of July 2005.
DR MICHAEL CULLEN, Minister of Finance.