Notice Type
Notice Title

Notice of Approval Given Pursuant to Section 160(3) of the Crown Entities Act 2004

Pursuant to section 160(3) of the Crown Entities Act
2004, I, Jeremy Salmond, Treasury Solicitor, hereby give notice that on 25 September 2013, The Honourable Bill English, Minister of Finance, and The Honourable Hekia Parata, Minister of Education, gave approval under section 160(1)(b) of the Crown Entities Act 2004, for school boards of trustees to acquire debt securities issued by Heartland Bank Limited, subject to the following conditions:
(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 1st day of October 2013.
JEREMY SALMOND, Treasury Solicitor.