Notice Type
Departmental
Notice Title

Notice of Approvals Given Pursuant to Section 160 (1) (b) of the Crown Entities Act 2004

Pursuant to section 160 (3) of the Crown Entities Act 2004, I, The Honourable Dr Michael John Cullen, Minister of Finance, hereby give notice that:
1. on 19 July 2005, we, The Honourable Dr Michael Cullen, Minister of Finance, and The Honourable Trevor Mallard, Minister of Education, gave approval, under section 160 (1) (b) of the Crown Entities Act 2004, to school boards of trustees (as that term is defined in the Crown Entities Act 2004) for the acquisition of debt securities issued by New Zealand registered building societies:
(a) that have given to the relevant school board of trustees:
(i) written confirmation that:
(A) the building society has total equity of at least NZ$15 million; and
(B) the building society is in compliance
with the terms of offer of debt securities
in the building society’s current registered prospectus and with the terms of the building society’s trust deed; and
(ii) a written undertaking from the building society that it will, as soon as practicable, notify that school board of trustees in writing if
that building society no longer satisfies any
of the conditions specified in (a) (i) above; and
(b) that have not notified a school board of trustees in writing that that building society no longer satisfies any of the conditions specified in (a) (i) above; and
2. on 19 July 2005, we, The Honourable Dr Michael Cullen, Minister of Finance, and The Honourable Chris Carter, Minister of Conservation, gave approval, under section 160 (1) (b) of the Crown Entities Act 2004, for the New Zealand Fish and Game Council, (regional) Fish and Game Councils, the New Zealand Game Bird Habitat Trust Board and reserves boards (as defined in section 2 of the Reserves Act 1977) to the acquisition of debt securities issued by New Zealand registered building societies:
(a) that have given to the New Zealand Fish and Game Council, any relevant (regional) Fish and
Game Council, the New Zealand Game Bird Habitat Trust Board and any reserves board:
(i) written confirmation that:
(A) the building society has total equity of at least NZ$15 million; and
(B) the building society is in compliance
with terms of offer of debt securities in
the building society’s current registered prospectus and with the terms of the building society’s trust deed; and
(ii) a written undertaking from the building society
that it will, as soon as practicable, notify the
New Zealand Fish and Game Council, any
relevant (regional) Fish and Game Council, the New Zealand Game Bird Habitat Trust Board and/or any reserves board, as applicable, in writing if that building society no longer satisfies any of the conditions specified in (a) (i) above;
(b) that have not notified the New Zealand Fish and Game Council, any (regional) Fish and Game Council, the New Zealand Game Bird Habitat Trust Board and/or any reserves board in writing that that building society no longer satisfies any of the conditions specified in (a) (i) above.
Dated at Wellington this 19th day of July 2005.
DR MICHAEL CULLEN, Minister of Finance.