Pursuant to section 65ZE(3) of the Public Finance Act 1989, the Minister of Finance makes the following statement:
"On 4 and 5 April 2013, the Treasury gave the following indemnities in relation to the initial public offering of up to 49% of the shares in Mighty River Power Limited (the "MRP IPO"):
a an indemnity to Ernst & Young and the Auditor General dated 4 April 2013 for certain liabilities, losses, damages costs and expenses incurred in relation to a third party’s use of advice prepared
by Ernst & Young in connection with a proposed offer of securities in the United States, where that advice has been disclosed by the Crown without
Ernst & Young’s consent, and
b an indemnity to Ernst & Young Transaction Advisory Services Limited (EYTAS) dated 5 April 2013 for certain liabilities, losses, damages costs and expenses incurred in relation to a third party’s use of the information in EYTAS’ Investigating Accountant’s Report or arising out of claims by third parties in relation to any misstatement or omission in any material or information supplied by the Crown to EYTAS in connection with its appointment as Investigating Accountant."
Dated at Wellington this 17th day of April 2013.
HON SIMON WILLIAM ENGLISH, Minister of Finance.