No. 85

SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE
OF
THURSDAY, 18 DECEMBER 1969
Published by Authority
WELLINGTON: TUESDAY, 23 DECEMBER 1969
Issue of Writ for Marlborough By-election Postponed
ARTHUR PORRITT, Governor-General
ORDER IN COUNCIL
At the Government House at Wellington this 22nd day of December 1969
Present:
His Excellency The Governor-General in Council
Pursuant to the Electoral Act 1956, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby authorises the Clerk of the Writs to postpone the issue of a writ for the Marlborough Electoral District until the 22nd day of January 1970.
P. J. BROOKS, Clerk of the Executive Council.
Amendments to the Rules of Stock Exchange Association of New Zealand
These rules shall come into force on the 1st day of the month after the date of their notification in the Gazette.
Rule 78A—To be deleted.
Rule 85—
Rule 85 (i) (a) is amended by deleting “£25,000” and substituting “$5,000” and by deleting “£50,000” and substituting “$10,000” in each case the figures occur.
Rule 85 (i) (a) (1) is amended by deleting “£25,000” and substituting “$5,000”.
Rule 85 (i) (d), (e), (f), and (g) and rule 85 (ii) are deleted and the following substituted:
Rule 85 (i)—
(d) On listed shares, share options, convertible loan securities or rights to new issues arising from such securities:
Percent
(1) on the first $10,000 of consideration ………… 2
(2) on the next $40,000 of consideration …………. 1½
(3) on the amount by which the consideration exceeds $50,000 ………… 1
Provided that the concessional rate in (2) and (3) above shall apply only when there is a single instruction given at the one time to buy or sell on behalf of the one beneficial interest securities in the one company of the same class and paid up value on that part of the order completed within 1 calendar month from the date of such instruction. The
balance of the uncompleted order shall after 1 calendar month be deemed to be a new instruction from the date of commencement of the second and subsequent months.
(e) On unlisted securities of the types set out in (d), the rate prescribed in (d), plus 50 percent.
(f) For the purposes of subparagraphs (d) and (e) of this paragraph (i) the brokerage on rights to new issues shall be calculated—
• for the seller, on the basis of the consideration specified
• for the buyer, on the basis of the consideration plus the amount required to be paid to convert the rights into transferable units.
Rule 85 (ii)—
(a) When the total consideration involved in an order is $10 or more, and less than $100, minimum brokerage of $2 may be charged.
(b) When the total consideration involved in an order is less than $10, then a minimum brokerage of $1 may be charged.
(c) When more than one contract note is issued in respect of an order to which minimum brokerage applies, upon any contract note after the first shall appear the statement “minimum brokerage previously charged”.
Rule 111—
Rule 111 (i) (d) is amended by deleting the words “including mining shares, except as specifically mentioned in (e) hereunder”.
Rule 111 (i) (e) is deleted.
Rule 111 (i) (f) is amended by deleting the words “subparagraphs (d) and (e) above, at the time the books close” and substituting “subparagraph (d)” and by deleting the words “and (e)” in the second sentence.
Rule 135—
To be amended as to the second paragraph by
(1) after the word “business” where it first occurs, inserting a full stop and the following sentence: “No person whose only business with a member has been to apply for shares or other securities comprised in a placement, flotation, or new issue or issues shall be considered a client.”
(2) deleting the word “and” immediately before the word “communications” where it first occurs, and commencing a new sentence with the word “communications”.
Approved in Council 22 December 1969.
P. J. BROOKS, Clerk of the Executive Council.
Price 5c.
A. R. SHEARER, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1969
2681