Pursuant to section 160(3) of the Crown Entities Act 2004, I, John Henry Whitehead, Secretary to the Treasury, hereby give notice that on 25 June 2007, I, John Henry Whitehead, Secretary to the Treasury, and Karen Sewell, Secretary for Education, gave approval under section 160(1)(b) of the Crown Entities Act 2004, in relation to section 161 of that Act, for school boards of trustees (as that term is defined in the Crown Entities Act 2004) to acquire debt securities issued by the Catholic Diocese of Hamilton (trading through the Hamilton Catholic Development Fund) on the conditions:
(a) that the Catholic Diocese of Hamilton has given to the relevant school board of trustees:
(i) written confirmation that:
(A) the Catholic Diocese of Hamilton has total equity of at least $15 million; and
(B) the Catholic Diocese of Hamilton complies with section 33(2) of the Securities Act 1978 or otherwise has a trust deed and trustee under the Securities Act 1978; and
(ii) a written undertaking from the Catholic Diocese of Hamilton that it will, as soon as practicable, notify that school board of trustees in writing
if the Catholic Diocese of Hamilton no longer satisfies any of the conditions specified in (a)(i) above.
(b) that it has not notified a school board of trustee in writing that the Catholic Diocese of Hamilton no longer satisfies any of the conditions specified in (a)(i) above.
Dated at Wellington this 25th day of June 2007.
JOHN HENRY WHITEHEAD, Secretary to the Treasury.