3886
THE NEW ZEALAND GAZETTE
No. 115

THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LIMITED

BALANCE SHEET AS AT 30 JUNE 1979
(Expressed in New Zealand Currency)

On behalf of the Board:

STEPHEN MACDONALD KIMPTON, Director.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 1979
(Expressed in New Zealand Currency)

Income from—
New Zealand Government Stock, Treasury bills and Local Authority Securities
| | | |
|---------------------------------|---------|---------|
| Other investments | 1,956,058 | 1,342,222 |
| Other sources | 2,756,055 | 1,740,121 |
| | 973 | 534 |
| | 4,713,086 | 2,982,877 |

Balance brought forward from previous year
| | 740,233 | 543,685 |
| Net profit for the year as above | 415,603 | 296,548 |
| | 1,155,836 | 840,233 |

NOTES TO THE ACCOUNTS

Statement of Accounting Policies

1. (a) Amortisation of Public Securities—Book values of New Zealand Government and Local Authority Securities which were purchased at a discount or a premium, are being amortised annually so as to attain their redemption values by maturity date.

(b) Profits and Losses on Realisation of Public Securities—The difference between book value and proceeds on realisation of New Zealand Government and Local Authority Securities is taken to Profit and Loss Account in equal annual instalments over a period of 5 years commencing with the year in which they arise.

2. Investments—The New Zealand Government and Local Authority Securities are all redeemable at par at fixed dates. Whilst in the ordinary course of business some realisation of the bank's investment in these securities may take place at prices below book values, it is the opinion of the directors that existing reserves are sufficient to cover any losses that are likely to arise on sales undertaken in the normal course of business.

As at 30 June 1979.

AUDITORS' REPORT

TO THE MEMBERS OF THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LIMITED

In our opinion the accompanying balance sheet and profit and loss account give a true and fair view of the state of affairs of The Commercial Bank Savings Bank (N.Z.) Limited, at 30 June 1979, and of its results for the year ended on that date.

We have obtained all the information and explanations we have required. In our opinion the company has kept proper books, and the balance sheet and profit and loss account, give in the prescribed manner the information required by the Companies Act 1955.

G. E. FULLER
B. W. McDONALD
} Chartered Accountants.

Wellington, New Zealand, 19 July 1979.

5875

AMOCO CHEMICALS PTY. LTD.

NOTICE OF INTENTION TO CEASE TO HAVE A PLACE OF BUSINESS IN NEW ZEALAND

AMOCO CHEMICALS Pty. Ltd., a company duly incorporated in Canberra, Australian Capital Territory, Australia, hereby gives notice, pursuant to section 405 of the Companies Act 1955, that it intends to cease to have a place of business in New Zealand after the 20th day of March 1980.

Dated this 6th day of December 1979.

Amoco Chemicals Pty. Ltd. by its solicitors:

CHAPMAN TRIPP & CO.

6346

ARMOUR & CO. LTD.

NOTICE OF INTENTION TO CEASE TO HAVE A PLACE OF BUSINESS IN NEW ZEALAND

ARMOUR & Co. Ltd. a company duly incorporated in the United Kingdom hereby gives notice pursuant to section 405 of the Companies Act 1955, that it intends to cease to have a place of business in New Zealand after the 31st day of March 1980.

Dated this 4th day of December 1979.

Armour & Co. Ltd. by its solicitors:

CHAPMAN TRIPP & CO.

6324

CLARKE CHAPMAN (AUSTRALIA) PTY. LTD.

NOTICE OF INTENTION TO CEASE TO HAVE A PLACE OF BUSINESS IN NEW ZEALAND

CLARKE CHAPMAN (AUSTRALIA) Pty. Ltd. hereby gives notice, pursuant to section 405 (2) of the Companies Act 1955, of its intention to cease to have a place of business in New Zealand from 15 February 1980.

C. B. CLELAND.

5854