5 JULY
THE NEW ZEALAND GAZETTE
2041

Insurance Companies' Deposits Act 1953—Proposed Release of Deposit

TARANAKI Farmers Mutual Insurance Association has given notice to the Public Trustee that it has ceased to carry on in New Zealand the class of insurance business designated as Class 2 in the First Schedule to the above-mentioned Act, and that it proposes to withdraw, pursuant to section 19 of such Act, the deposit which has been made by it with the Public Trustee.

The Public Trustee therefore gives notice, pursuant to section 19 (3) of the above-mentioned Act, that being satisfied that all liabilities of the said company in New Zealand in respect of such insurance business have been fully provided for, he proposes to release to the company, on or after 3 August 1979, the amount deposited with him by the said company.

Any objections to the release of the amount deposited should be lodged with the Public Trustee at the Public Trust Office, Lambton Quay, Wellington 1, on or before 27 July 1979.

Dated at Wellington this 21st day of June 1979.

N. W. CURRIE, Assistant Public Trustee.

Notice of Intention to Assign Place Names by the New Zealand Geographic Board

PURSUANT to section 12 of the New Zealand Geographic Board Act 1946, notice is hereby given of the intention of the New Zealand Geographic Board to assign the names set out in the first column of the Schedule hereto.

Pursuant to section 13 of the said Act, any person objecting to any such proposed name may, at any time within a 3 month period from the date of publication of this notice in the Gazette, give to the Secretary of the Board, care of the Department of Lands and Survey, Private Bag, Wellington, notice in writing of their objection. Plans showing the location of the features may be inspected at the office of the Chief Surveyor for the department, or at the office of the secretary of the Board.

If no objection is received by the Board within the aforesaid period of 3 months, the Board's decision as to any of the said proposed names will be final.

SCHEDULE

NORTH AUCKLAND LAND DISTRICT

Name Location and Remarks

Kirikiri Bay For bay approximately 3 kms north of Te Henga (Bethells) N41:958587.

Te Raupua Highest point in Northland. To correct spelling as shown in New Zealand Gazette, No. 42, 1979, p. 1553. N18/026196.

Waipareira Bay Amending spelling Waiparera Bay as shown in New Zealand Gazette, No. 42, 1979, p. 1553.

Lynfield Cove Small bay at mouth of Duck Creek N42/2351.

Manukau City Post Office For Post Office in Manukau city centre.

Manukau City Centre For new city centre in Manukau City.

CUVIER ISLAND

Radar Point For north-eastern point of Cuvier Island N36:267118.

Blanket Bay For bay just south of Radar Point N36:266115.

Moko Bay For smaller bay on north eastern coast of island N36:273108.

Wilsons Peak For hill where lighthouse is situated N36:280104.

Gropher Point For coastal point on south coast N36:272103

Picnic Bay For bay to west of Groper Point N36:269104.

South Point For point on south coast immediately west of Picnic Bay N36:264103.

Tawapou Point For south western coastal point of island N36:258104.

West Point For most westerly point of island N36:254107.

Northwest Bay For bay on north-western side of island N36:255110.

Northwest Point For north-western point of island N36:257116.

Camp Bay For bay to east of North-west point N36:260116.

CANTERBURY LAND DISTRICT

Black Jacks Point Amendment of grid reference as shown in New Zealand Gazette, No. 42, 1979, p. 1553 to S117/867335.

Belfield Stream Amendment of grid reference as shown in New Zealand Gazette, No. 42, 1979, p. 1553 to S118/1716.

Kirkliston Stream Amendment of grid reference as shown in New Zealand Gazette, No. 42, 1979, p. 1553 to S118/1917.

SOUTHLAND LAND DISTRICT

Lake Wapiti For small lake at head of Campbell Creek/Doon River S130:5161.

NOTE—Map references in terms of N.Z.M.S. 1.

Dated at Wellington this 30th day of June 1979.

I. F. STIRLING, Surveyor General,
Chairman, New Zealand Geographic Board.

(L. and S. H.O. 22/2605/3)

Trading Bank Reserve Asset Ratios

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 and including 1 July 1979, and until further notice each trading bank shall maintain during each calendar month balances at the Reserve Bank plus holdings of Reserve Bank notes and of New Zealand Government securities, such that the aggregate of the averages of those balances and holdings during that calendar month (determined in accordance with clauses 1, 2, 3, and 4 of this notice) equals or exceeds the aggregate of:

27 percent of that trading bank's average demand deposit liabilities in New Zealand in the immediately preceding calendar month (determined in accordance with the provisions of clause 5 of this notice); plus

20 percent of that trading bank's average time deposit liabilities in New Zealand in the immediately preceding calendar month (determined in accordance with the provisions of clause 5 of this notice);

Provided that a trading bank may make up its balances and holdings as aforesaid for a calendar month to the amount hereinbefore required for that calendar month by way of borrowings from the Reserve Bank made during that calendar month or during the first 10 business days of the next following calendar month, and on terms and conditions to be determined by the Reserve Bank and the proceeds of all such borrowings shall be credited to the account of that trading bank with the Reserve Bank.

For the purposes of this notice:

(1) Balances held by a trading bank at the Reserve Bank shall (subject to clause 6 of this notice) include both demand deposit balances and time deposit balances of that trading bank.

(2) The average of a trading bank's holdings of Reserve Bank notes for a calendar month shall be the average of the figures shown in all weekly returns of Banking Statistics by that trading bank under the Statistics Act 1975 received during that calendar month.

(3) The average of a trading bank's balances at the Reserve Bank and holdings of New Zealand Government securities for a calendar month shall in each case be the average of the figures for balances and such securities held by that trading bank on each day during that calendar month.

(4) Government securities held by a trading bank shall consist of Government stock and Treasury bills (all at nominal value) held by that trading bank.

(5) The average demand deposit liabilities and the average time deposit liabilities of a trading bank in a calendar month shall in each case be the average of the figures for days within that calendar month, as shown in that trading bank's weekly returns of Banking Statistics under the Statistics Act 1975.

(6) The proceeds of any borrowings made by a trading bank pursuant to the proviso to this notice shall:

(a) in the case of a borrowing made during a calendar month to make up balances and holdings for that calendar month, be included in the balances held by that trading bank at the Reserve Bank during the calendar month for which that borrowing is made; and