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, Stephen Revill, Senior Solicitor, hereby give notice that on 7 April 2019 the Honourable Grant Murray Robertson, Minister of Finance, and the Honourable Dr David Scott Clark, Minister of Health, (“Ministers”) gave approvals, under section 160(1)(b) of the Crown Entities Act 2004, in relation to section 162 of that Act, for New Zealand Blood Service (NZBS) to:

  1. increase the borrowing limit of the NZBS Multi-Option Credit Line facility from $8.3 million to $14.0 million returning to $8.3 million no later than 30 June 2021.
  2. to enter into a ‘term Debt / finance lease’ facility’ arrangement for the redevelopment’s assets located at 71 Great South Road, Epsom, Auckland.

In providing the approval it is the Ministers’ expectation that:

  1. the NZBS Board will ensure that financial management of the redevelopment is well managed noting the initial budget has been set at $18.9 million (excluding GST) and that any variation above this figure will be suitably scrutinised and sanctioned by the Board.
  2. all resources required for this development will be from NZBS’s own financial resources.

Dated at Wellington this 19th day of June 2019.

STEPHEN REVILL, Senior Solicitor.