2394

THE NEW ZEALAND GAZETTE

No. 90

The Eastern and Central Savings Bank Order 1972

DENIS BLUNDELL, Governor-General

ORDER IN COUNCIL

At the Government House at Wellington this 30th day of October 1972

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

PURSUANT to section 3B of the Trustee Savings Banks Act 1948, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following order.

ORDER

1. Title and commencement—(1) This order may be cited as the Eastern and Central Savings Bank Order 1972.

(2) This order shall come into force on the date of its publication in the Gazette.

2. Interpretation—In this order, unless the context otherwise requires,—

"The Act" means the Trustee Savings Banks Act 1948;

"Bank" means the Eastern and Central Savings Bank;

"Board" means the Board of Trustees of the bank;

"Minister" means the Minister of Finance;

"Original banks" means the Hawke's Bay and Gisborne Savings Bank and the Manawatu-Wairarapa Savings Bank.

3. Union of original banks—The original banks are hereby united to form a new savings bank to be called the Eastern and Central Savings Bank, having its head office in the city of Hastings.

4. Application of Act—The provisions of the Act shall apply to the bank, subject to the provisions of this order.

5. Trustees—Notwithstanding anything in sections 6 (2) and 7 (1) of the Act, but subject to section 8 of the Act, the following provisions shall apply with respect to the trustees of the bank:

(a) The maximum number of trustees of the bank shall be 20:

(b) Every person holding office immediately before the date of the commencement of this order as a trustee of one of the original banks shall be deemed to have been appointed on that date as a trustee of the bank for a term expiring on the date on which he would have retired as a trustee of the original bank if this order had not been made.

6. First President and Deputy President—Notwithstanding anything in section 9 (1) of the Act, at the first meeting of the Board the Board shall elect from among the trustees a President and Deputy President of the bank, each of whom, so long as he continues to be a trustee, shall hold office until his successor is elected in the month of May in the year 1973 in accordance with the provisions of section 9 (1) of the Act.

7. First meeting of the Board—Notwithstanding anything in section 10-(1) of the Act, the first meeting of the Board shall be held at such time and place as the Minister appoints by notice in the Gazette.

8. Appointment of officers—Notwithstanding anything in section 14 of the Act, the first chief executive officer of the bank shall be the officer holding the position of General Manager of the Hawke's Bay and Gisborne Savings Bank immediately before the commencement of this order.

9. Bank premises—Notwithstanding anything in the proviso to section 28 of the Act, the bank may incur expenditure up to a limit of $10,000 in respect of the purchase or other acquisition or improvement of any land or buildings or the erection of any building for the purpose of providing any one office for the bank, and may incur expenditure for the same purpose in excess of that limit with the prior written consent of the Minister.

10. Revocations—The following orders are hereby consequently revoked:

(a) The Hawke's Bay Savings Bank Order 1962*;

(b) The Manawatu Savings Bank Order 1963†;

(c) The Hawke's Bay Savings Bank Order 1962, Amendment No. 2‡;

(d) The Manawatu Savings Bank Order 1963, Amendment No. 3§.

P. J. BROOKS, Clerk of the Executive Council.

*Gazette, 1962, Vol. III, p. 1580

†Gazette, 1963, Vol. II, p. 903

‡Gazette, 1967, Vol. III, p. 1660

§Gazette, 1970, Vol. I, p. 185

Notice Under the Regulations Act 1936

PURSUANT to the Regulations Act 1936, notice is hereby given of the making of regulations as under:

Copies can be purchased from the Government Publications Bookshops—State Advances Building, Rutland Street (P.O. Box 5344), Auckland 1; Investment House, Barton Street (P.O. Box 857), Hamilton; Mulgrave Street (Private Bag), Wellington 1; 130 Oxford Terrace (P.O. Box 1721), Christchurch 1; T. and G. Insurance Building, Princes Street (P.O. Box 1104), Dunedin. Prices for quantities supplied on application. Copies may be ordered by quoting serial number.

A. R. SHEARER, Government Printer.