18 JANUARY
THE NEW ZEALAND GAZETTE
121

cerned but they have not previously been before the Tribunal.
The Tribunal is now asked to make a formal determination
in respect of each of them.

The first four of these publications are picture books of
nude females of a type which is familiar to the Tribunal as
being without any feature which might redeem the crude
appeal to prurience which is their predominant characteristic.
The Tribunal has no hesitation in finding each of these uncon-
ditionally indecent.

Items 5, 6, and 8 deal almost exclusively with sexual
matters and explicitly. They are substantially similar to other
publications like "Forum" which we have accepted as having
a sufficiently honest purpose and some social merit or worth.
Like those publications, however, they are not suitable for
unconditional distributions. An 18 year age restriction is
therefore appropriate.

Item 7 while having some similarities to the last three
publications lacks in our view the balance and honesty of
purpose of them. The dominant effect of this publication is
to emphasise the prurient aspects of the subject. It therefore
falls below the contemporary standard of acceptance of the
community and is to be classified as unconditionally indecent.

Items 9 and 10 are both well known publications, the first
being the result of a widespread and apparently scientific
investigation and the other a U.S. Federal Government
enquiry. Both we consider require an 18 years age restriction.
In the case of the first because the explicitness and detail of
the Hite Report make it unsuitable for younger persons. In
the second case because the addition of photographs, uncon-
nected with the text of the edited report, reduces the authority
of the publication and would tend to attract the younger
readers for the wrong reason.

The Tribunal finds and makes its classification as follows:

(1) As indecent:
Hot Girls No. 2
Floppers No. 7
Potpourri of Sex
Tit'n'tat No. 3
Open, Vol. 3, No. 1; and

(2) As indecent in the hands of persons under 18 years of age:
The Ultimate Orgasm
Sexology
Guide to Sexual Growth (Forum)
The Hite Report
The Report of the U.S. Commission on Hardcore Porno.

Dated at Wellington this 20th day of December 1978.

LAURENCE M. GREIG, Chairman.

The Overseas Investment Exemption Notice 1978, No. 1

PURSUANT to the Overseas Investment Regulations 1974*,
hereinafter referred to as the regulations, the Overseas Invest-
ment Commission hereby gives the following exemption.

NOTICE

1. Title—This notice may be cited as the Overseas Invest-
   ment Exemption Notice 1978, No. 1.

2. Exemption of transactions of certain overseas persons
   from the regulations—Every person that is a company
   within the meaning of the Schedule hereto, and is an
   overseas person within the meaning of regulation 2 (1) of
   the regulations but which would not be an overseas person
   if the shares in the company registered in the names of any
   of the persons mentioned in the Schedule hereto were held
   by persons who are not overseas persons except where the
   company in question is a subsidiary as defined in regulation
   2 (2) of the regulations of one of the persons mentioned in
   the Schedule hereto, is (together with any subsidiary of such
   person so long as that person holds more than seventy-five
   percent in nominal value of the subsidiary's equity share
   capital as defined in Section 158 of the Companies Act 1955)
   hereby exempted from the application of the provisions of
   regulations 4 and 5 (2) in Part I and all of the provisions of
   Parts II and III of the regulations.

3. Exemption from regulation 3 (1) (a) of certain borrowings
   outside New Zealand—Every person being a body corporate
   incorporated in New Zealand or being an unincorporated
   body of persons (other than a partnership in which none of
   the partners is a body corporate incorporated in New Zealand)
   carrying on business in New Zealand or any person acting as
   a nominee for or on behalf of any such body corporate or
   unincorporated body is hereby exempted from the provisions
   of regulation 3 (1) (a) of the regulations in respect of
   borrowings for a term not exceeding a total of 12 months
   where the moneys borrowed are used exclusively for the
   purpose of financing the export of goods from New Zealand
   or the import of goods into New Zealand by the borrower.

4. Revocation—The following notice is hereby revoked:
   The Overseas Investment Exemption Notice 1977, No. 1
   (New Zealand Gazette, 17 February 1977, No. 16, p. 358).

SCHEDULE

Aetna Life of Australia and New Zealand Limited.
A.H.I. Nominees Limited.
Alliance Assurance Company Limited.
A.N.Z. Custodians Ltd.
A.N.Z. Pensions Limited.
A.M.P. Fire and General Insurance Company (N.Z.)
Limited.
Australian Mutual Provident Society.
Australian Provincial Assurance Association Limited.
Australian Reinsurance Company Limited.
C.M.L. Nominees Pty. Limited.
Colonial Mutual Life Assurance Society Limited.
Commercial Union Assurance Company of New Zealand
Limited.
Commercial Union Group Staff Pensions Limited.
First New Zealand Nominees Limited.
Guardian Assurance Company Limited.
Guardian Royal Exchange Assurance of New Zealand
Limited.
I.C.I. New Zealand Superfunds Securities Limited.
Mercantile and General Reinsurance Company Limited.
Monarch Life Insurance Company of New Zealand Limited.
Mutual Life and Citizens' Assurance Company Limited.
Nestle's Pension Trust (Australasia) Pty. Limited.
Norwich Union Life Insurance Society.
Phoenix Assurance Company of New Zealand Limited.
Provident Life Assurance Company Limited.
Prudasco New Zealand Superannuation Limited.
Prudential Assurance Company Limited.
Royal-Globe Life Assurance Company Limited.
Royal Insurance Company Limited.
Sun Insurance Office Limited.
The English Insurance Company Limited.
The London Assurance.
The Mercantile & General Insurance Company Limited.
The Mercantile and General Reinsurance Company of Aus-
tralia Limited.
Unilever New Zealand Superannuation Nominees Limited.
Vicins Nominees Limited.
Wales Management (N.Z.) Limited.
Wales Nominees (N.Z.) Limited.
Yorkshire-General Life Assurance Company Limited.
Yorkshire Insurance Company Limited.

Dated at Wellington this 20th day of December 1978.

For and on behalf of the Overseas Investment Commission:

R. W. STANNARD, Chairman.

*S.R. 1974/117

Notice of Intention to Vary Hours of Sale of Liquor at
Chartered Club—Waikato Licensing Committee

PURSUANT to section 221A of the Sale of Liquor Act 1962, as
amended by section 22 (14) of the Sale of Liquor Amendment
Act 1976, I, Bruce James Cameron, Acting Secretary for
Justice, hereby give notice that the Waikato Licensing Com-
mittee, on 10 November 1978, made an order authorising
variations of the usual hours of trading for the chartered club
premises known as the Cambridge Cosmopolitan Club Incor-
porated at Cambridge.

To the intent that on days other than those on which
chartered clubs are required to be closed for the sale of liquor
to their members, the hours for the opening and closing of
the said premises shall be as follows:

(a) On any Monday, Tuesday, Wednesday, and Thursday
(not being Christmas Eve or New Year's Eve):
Opening at 11 o'clock in the morning and closing at
10 o'clock in the evening.

(b) On any Friday, Saturday (not being New Year's Eve)
and Christmas Eve: Opening at 11 o'clock in the morning
and closing at 11 o'clock in the evening.