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, Sheryl-Lee Belk, Senior Solicitor, give notice that on or about 31 August 2021 the Honourable Dr Megan Woods, Minister of Housing, and the Honourable Grant Robertson, Minister of Finance, gave approval under section 160(1)(b) of the Crown Entities Act 2004 in relation to section 163 (restrictions on giving guarantees and indemnities) of that Act, to Kāinga Ora to provide guarantees or indemnities that are required to implement the Direct to Household scheme and are limited to the Kāinga Ora share in the property, to the following banks:

  1. BNZ and Westpac banks in accordance with the bank relationship agreements; and
  2. Tier 1 and Tier 2 banks in connection with the Direct to Household scheme on the condition that the guarantees or indemnities are substantially in the form provided in the bank relationship agreements with BNZ and Westpac and subject to the same conditions.

Dated at Wellington this 7th day of September 2021.

SHERYL-LEE BELK, Senior Solicitor.