I, The Honourable Simon William English, Minister of Finance, pursuant to section 158(1)(b) of the Crown Entities Act 2004, hereby approve, effective from 1 October 2013, the establishment, maintenance and operation of bank accounts by Crown Entities (as that term is defined in
the Crown Entities Act 2004) at Heartland Bank Limited
on the condition that:
(a) Heartland Bank Limited complies with its conditions of registration imposed under section 74 of the Reserve Bank of New Zealand Act 1989; and
(b) Heartland Bank Limited's credit rating and outlook, as assessed by Standard and Poors Ratings Services does not fall below the existing level of BBB-.
Dated at Wellington this 25th day of September 2013.
HON SIMON WILLIAM ENGLISH, Minister of Finance.