Pursuant to section 160(3) of the Crown Entities Act 2004, I, Gabriel Makhlouf, Secretary to the Treasury, hereby give notice that on 25 March 2019, I, Gabriel Makhlouf, Secretary to the Treasury, and Iona Holsted, Secretary for Education, gave approval under section 160(1)(b) of the Crown Entities Act 2004, in relation to section 161 of that Act, for school boards of trustees (as that term is defined in the Crown Entities Act 2004) to acquire debt securities issued by the Roman Catholic Bishop of the Diocese of Hamilton (trading through the Hamilton Catholic Development Fund) on the condition that the Diocese:

1. complies with the trustee and trust deed requirements of section 103 of the Financial Markets Conduct Act 2013;
2. has given to the relevant school board of trustees:
   1. written confirmation that:
      1. the Diocese has total equity of at least $15 million; and
      2. the Diocese complies with section 103 of the Financial Markets Conduct Act 2013 or otherwise has a trust deed and trustee under the Financial Markets Conduct Act 2013.
   2. a written undertaking that it will, as soon as practicable, notify that school board of trustees in writing if the Diocese no longer satisfies any of the conditions specified in (b)(i) above; and
3. that it has not notified a school board of trustee in writing that that the Diocese no longer satisfies any of the conditions specified in (b)(i) above.

Dated at Wellington this 25th day of March 2019.

GABRIEL MAKHLOUF, Secretary to the Treasury.