Pursuant to section 160(3) of the Crown Entities Act 2004, I, Sheryl-Lee Belk, Senior Solicitor, acting under delegated authority from the Secretary to the Treasury, give notice that on or about 5 July 2021, Hon Grant Robertson, Minister of Finance and Hon Andrew Little, Minister of Health gave approvals under section 160(1)(b) of the Crown Entities Act 2004, in relation to section 162 (restrictions on borrowing) of that Act, for the New Zealand Blood and Organ Service (NZBOS) to:

1. increase the borrowing limit of the NZBOS Multi-Option Credit Line (MOCL) facility from $8.3 million to $16.0 million; and
2. increase the NZBOS maximum gross debt ratio from the current 48 percent to 55 percent.

In providing the approval it is the Ministers’ expectation that the NZBOS Board will review and monitor annually whether the MOCL facility needs to be reduced or not, to meet estimates of cash needed for investments in infrastructure, without recourse to Ministers.

Dated at Wellington this 14th day of July 2021.

SHERYL-LEE BELK, Senior Solicitor, the Treasury.