Notice of Election by Public Trust to Manage Property Under Part VII of the Public Trust Act 2001

Whereas:

1. TAUPO ELECTRICITY LIMITED was grantee under the easements listed in the Schedule (“Easements”). On 31 March 1996, TRUSTPOWER LIMITED amalgamated with TAUPO ELECTRICITY LIMITED and others to become TRUSTPOWER LIMITED. TRUSTPOWER LIMITED sold assets (including the Easements) to UNITEDNETWORKS LIMITED on 1 February 1999. On 1 November 2002 the Easements were sold to HAWKE'S BAY NETWORK LIMITED (now UNISON NETWORKS LIMITED). On 31 October 2016 TRUSTPOWER LIMITED changed its name to SCARLETT LIMITED, a company which was then removed from the Companies Register on 7 July 2017. Due to administrative oversights, transfers of the Easements to UNITEDNETWORKS LIMITED and then to HAWKE’S BAY NETWORK LIMITED (now UNISON NETWORKS LIMITED) were not registered with Toitū te Whenua Land Information New Zealand.
2. Public Trust has been asked to utilise Part 7 of the Public Trust Act 2001 (“Act”) to rectify these administrative oversights.
3. Public Trust has been informed and believes after due enquiry that, for the purposes of section 99(1)(c) of the Act, the Property (as described in the Schedule) would vest in the Crown if it were not subject to a trust for another person, and it is not known whether it is subject to such a trust.
4. The gross value of the Property (as estimated by Public Trust) does not exceed $40,000.
5. Public Trust is satisfied that it is advisable in the interests of another person that Public Trust elects to be the manager of the Property under part 7, section 101 of the Act.

Dated at Wellington this 2nd day of September 2022.

GREG BINNING, Authorised Signatory.

Schedule

The Property is all rights and interests (including as registered owner) as TAUPO ELECTRICITY LIMITED may have, or have had, in the following easements: