on the river or lake shores, or to the Wairakei
Power Station.

2. Subject to the conditions set forth in the Second Schedule
   hereto, regulation 11 (c) of the Motor Launch Regulations
   1962 shall not apply, during the hours of daylight, to any
   jet boat holding a current survey certificate, issued under Part
   IV of the Shipping and Seamen Act 1952, within the area
   described in the First Schedule hereto.

FIRST SCHEDULE

ALL that area of water on Lake Aratiatia and the Waikato
River between a point† marked by a notice board on the
western bank of the river, approximately 91 metres down-
stream from the Huka Falls, and a point‡ marked by a
notice board on the eastern side of the lake approximately
365 metres upstream from the Aratiatia Dam.

SECOND SCHEDULE

1. This notice shall not apply during the open season for
   shooting of water fowl in the Rotorua Acclimatisation Dis-
   trict.

2. This notice shall not apply to jet boats while passing
   the Wairakei Power Station area which shall be marked as
   follows:

(a) In a prominent position on the western bank of the
Waikato River approximately 228 metres downstream
from the Wairakei Power Station there shall be placed
a notice board 800 millimetres by 600 millimetres
painted bright orange with black lettering in the
following form:

Wairakei Power Station
Maximum Speed All Boats
8 km/h
Between This Point and a Point
Marked by a Notice Board
Immediately Upstream of the
Confluence of the Wairakei Hot
Stream

(b) In a prominent position on the western bank of the
Waikato River, immediately upstream of the con-
fluence of the Wairakei hot stream and the Waikato
River, there shall be placed a notice board 800 milli-
metres by 600 millimetres, painted bright orange with
black lettering, in the following form:

Wairakei Power Station
Maximum Speed All Boats
8 km/h
Between This Point and a Point
Marked by a Notice Board
228 metres Downstream
From the Wairakei Power Station

3. (a) In a prominent position on the western bank of the
   Waikato River†, approximately 91 metres downstream from
   the Huka Falls, there shall be placed a notice board measuring
   not less than 800 millimetres by 600 millimetres painted
   bright orange with black lettering in the following form:

NOTICE

"Motor Launch (Lake Aratiatia and Waikato River)
Notice 1977, Regulation 11 (c), of the Motor Launch
Regulations 1962 does not apply to surveyed jet
boats operating during the hours of daylight between
this point and a point marked by a notice board
immediately upstream from the Aratiatia dam, except
during the open season for shooting of water fowl
in the Rotorua acclimatisation district".

(b) In a prominent position on the eastern bank of Lake
Aratiatia‡, upstream from the Aratiatia Dam, there
shall be placed a notice board measuring not less
than 800 millimetres by 600 millimetres, painted bright
orange with black lettering in the following form:

NOTICE

"The Motor Launch (Lake Aratiatia and Waikato
River) Notice 1977, Regulation 11 (c), of the Motor
Launch Regulations 1962, does not apply to surveyed
jet boats operating during the hours of daylight
between this point and a point marked by a notice
board approximately 91 metres downstream from the

Huka Falls, except during the open season for shoot-
ing of water fowl in the Rotorua acclimatisation
district."

Dated at Wellington this 23rd day of June 1977.

O. J. CONWAY, for Secretary for Transport.

*Motor Launch Regulations (1962/180).
†NZMS 1 Sheet N94 Grid reference 562423.
‡NZMS 1 Sheet N94 Grid reference 604459.
(M. 43/68/10)

New Zealand Dairy Board Elections 1977—Declaration of
Results

I hereby declare the results of elections of members of the
New Zealand Dairy Board, held pursuant to the Dairy Board
Act 1961, to be as follows:

SOUTH AUCKLAND WARD

Mr Alan Earl Cooper, being the only candidate nominated
for the election as a member for the South Auckland Ward,
is hereby declared elected.

TARANAKI WARD

I hereby declare the result of the election in the Taranaki
Ward that closed on Wednesday, 22 June, to be:

Candidate Vote Polled
Mooney, John Brian 23,152,324
Roberts, Morris Bernard 19,143,715
Wright, Bernard David 6,169,305

I declare the said John Brian Mooney to be elected.

SOUTHERN WARD

Mr Gordon Dacre McKenzie, being the only candidate
nominated for the election as a member for the Southern
Ward, is hereby declared elected.

Dated at Wellington this 23rd day of June 1977.

J. L. WRIGHT, Returning Officer.

Reserve Bank of New Zealand

PURSUANT to section 33 of the Reserve Bank of New Zealand
Act 1964, the Reserve Bank, acting with the approval of the
Minister of Finance, hereby gives notice that as from the
close of business on 1 July 1977, and until further notice,
each trading bank shall maintain on average during each
calendar month balances at the Reserve Bank plus holdings
of Reserve Bank notes and of New Zealand Government
securities together equal to an amount which shall not be less
than the aggregate of:

24 percent of that bank's average demand deposit
liabilities in New Zealand in the immediately pre-
ceding calendar month as shown by an average of
the weekly returns of Banking Statistics under the
Statistics Act 1975, plus

15 percent of that bank's average time deposit liabilities
in New Zealand in the immediately preceding calen-
dar month as shown by an average of the weekly
returns of Banking Statistics under the Statistics Act
1975.

For the purposes of this notice:

(1) The monthly average of a trading bank's holdings of
Reserve Bank notes shall be the average of the
figures as shown by the weekly returns of Banking
Statistics under the Statistics Act 1975 for that bank
received in the calendar month to which the require-
ment applies.

(2) The monthly average of a trading bank's balances at
the Reserve Bank and holdings of New Zealand
Government securities shall be the average of all
daily figures for that bank in the calendar month
to which the requirement applies.

(3) Government securities shall consist of Government stock
and Treasury bills (all at nominal value) including
advance subscriptions for stock lodged by a trading
bank with the Reserve Bank.

(4) Balances at the Reserve Bank shall include both demand
deposit balances and time deposit balances.

D. L. WILKS, Deputy Governor.

27 June 1977.