Pursuant to section 160(3) of the Crown Entities Act 2004, I, Jeremy Salmond, Treasury Solicitor, hereby give notice that on 24 July 2013, the Honourable Simon William English, Minister of Finance, and the Honourable Anthony Boyd Williams Ryall, Minister of Health, gave approval, under section 160(1)(b) of the Crown Entities Act 2004, in relation to section 162 of that Act, for the Pharmaceutical Management Agency (PHARMAC) to enter into credit arrangements with the Crown for the purpose of funding
the implementation of PHARMAC's expanded role in the procurement of medical devices, to a maximum total amount of $5.65 million, subject to the following conditions:
(a) the credit facility may not be drawn down after
31 December 2015, and any funds drawn against
it are to be repaid in full by 20 June 2017; and
(b) any further conditions specified in the loan agreement between PHARMAC and the Ministry of Health.
Dated at Wellington this 29th day of July 2013.
JEREMY SALMOND, Treasury Solicitor.