Pursuant to section 22E of the Insurance Companies’ Deposits Act 1953, and acting under delegated authority
of the Chief Executive of the Ministry of Economic Development, I hereby issue an exemption from the restriction in section 22C of the Insurance Companies’ Deposits Act 1953 on the use of the word "Asure" in the company name Asure Limited.
I am satisfied that Asure Limited will not offer specified insurance business in New Zealand.
I am further satisfied that the proposed subsidiary of AsureQuality Limited has a legitimate reason to use the word "Asure" for the following reasons:
- It is necessary to use the word "Asure" to accurately convey the corporate relationship between AsureQuality Limited and the proposed subsidiary; and
- There will be no public confusion from the use of the word "Asure" in the company name.
Dated at Wellington this 5th day of March 2010.
GAVIN ROBERT QUIGAN, Manager, Insurance and Superannuation Unit, Ministry of Economic Development.