Consent to Raising of Loan by Certain Local Authorities

Pursuant to the Local Authorities Loans Act 1956, the undersigned Assistant Secretary to the Treasury, acting under powers delegated to the Secretary to the Treasury by the Minister of Finance, hereby consents to the borrowing by the local authorities, mentioned in the Schedule hereto, of the whole or any part of the respective amounts specified in that Schedule.

SCHEDULE

Local Authority and Name of Loan Amount Consented to
$
Auckland Electric Power Board:
Home Insulation and Solar Water Heating Loan
1980 ...... ...... ..... 100,000
Feilding Borough Council:
Pensioner Flats Loan 1979 ...... ..... ..... 69,000
Hamilton City Council:
Renewal Loan No. 1, 1980 ..... ..... ..... 51,500
Invercargill City Council:
Renewal Loan No. 35, 1980 ..... ..... ..... 160,000
Lyttelton Harbour Board:
Redemption Loan No. 17, 1980 ..... ..... ..... 550,000
Masterton County Council:
Rural Housing Loan No. 10, 1979 ..... ..... ..... 120,000
Oroua County Council:
Rural Housing Loan 1979 ..... ..... ..... 60,000
Rangiora Borough Council:
Rangiora District Water Supply Stage I Redemp-
tion Loan 1980 ..... ..... ..... 9,000
Rangitikei County Council:
Erewhon Rural Water Supply No. 3 Loan, 1980 61,000
Rodney County Council:
Warkworth Sewerage No. 2 Loan, 1979 ..... 166,000
Tasman Electric Power Board:
Home Insulation and Solar Water Heating Loan
1980 ..... ..... ..... ..... 15,000
Taumaranui County Council:
Rural Housing Loan 1979 ..... ..... ..... 250,000
Tauranga City Council:
Property Renewal Loan 1980 ..... ..... ..... 62,000
Wanganui City Council:
Consolidated Redemption Loan 1980 ..... ..... 113,000
Wellington City Council:
Newtown Park Pensioner Housing Additional
Loan 1979 ..... ..... ..... ..... 169,800
Whangarei County Council:
Housing for the Elderly Site Development Loan
1979 ..... ..... ..... ..... 62,000

Dated at Wellington this 26th day of February 1980.

J. R. BATTERSBY,
Assistant Secretary to the Treasury.

Exchange Rates

In terms of section 25 (2) of the Reserve Bank of New Zealand Act 1964, the Reserve Bank today released outer limits for rates of exchange to be used in transactions involving the conversion of New Zealand currency into foreign currencies and foreign currencies into New Zealand currency when delivery of the foreign currency dealt in will be effected by telegraphic transfer. The following range of rates, for the main currencies used by New Zealand traders in settling foreign exchange transactions, will remain in force until replaced by a new schedule issued by the Reserve Bank. These rates do not apply to transactions for settlement after the expiration of 2 business days (forward transactions) or to transactions in which instruments are purchased which do not entitle the buyer to foreign currency balances in the foreign centre until the instruments have been delivered at the foreign centre. In the latter case interest at foreign centre rates may be deducted from the telegraphic transfer rate to compensate the purchaser for his loss during the transit period.

Country and Currency Range of Rates
Australia (Dollar) ..... ..... ..... 0.8596- 0.9036
Austria (Schilling) ..... ..... ..... 12.0379- 12.6552
Belgium (Franc) ..... ..... ..... 27.1604- 29.4238
Canada (Dollar) ..... ..... ..... 1.0717- 1.1267
China (Renminbi) ..... ..... ..... 1.4242- 1.4972
Denmark (Kroner) ..... ..... ..... 5.2341- 5.5025
Fiji (Dollar) ..... ..... ..... 0.7972- 0.8380
France (Franc) ..... ..... ..... 3.9329- 4.1346
Hong Kong (Dollar) ..... ..... ..... 4.6627- 4.9018
India (Rupee) ..... ..... ..... 7.5049- 7.8898
Italy (Lira) ..... ..... ..... 777.8187-817.71
Japan (Yen) ..... ..... ..... 233.6236-245.6041
Malaysia (Ringgit) ..... ..... ..... 2.0593- 2.1649
Netherlands (Guilder) ..... ..... ..... 1.8458- 1.9405
New Caledonia and Tahiti (France) ..... 70.3352- 73.9420
Norway (Kroner) ..... ..... ..... 4.6405- 4.8785
Pakistan (Rupee) ..... ..... ..... 9.2770- 9.7527
Portugal (Escudo) ..... ..... ..... 45.4196- 47.7487
Singapore (Dollar) ..... ..... ..... 2.0465- 2.1515
South Africa (Rand) ..... ..... ..... 0.7622- 0.8013
Spain (Peseta) ..... ..... ..... 63.2688- 66.5133
Sri Lanka (Rupee) ..... ..... ..... 14.7795- 15.5374
Sweden (Krona) ..... ..... ..... 3.9904- 4.1950
Switzerland (Franc) ..... ..... ..... 1.6136- 1.6963
United Kingdom (Pound) ..... ..... ..... 0.4192- 0.4406
United States of America (Dollar) ..... 0.9377- 0.9858
West Germany (Deutschmark) ..... ..... 1.6795- 1.7656

Date: 4 March 1980.
Time: 9 a.m.

A. TULLOCH,
Assistant Chief Cashier,
Reserve Bank of New Zealand, Wellington.

The Standards Act 1965—Endorsement Cancelled

Pursuant to section 17 of the Standards Act 1965, the Standards Council, on 22 February 1980, cancelled the endorsement of the under-mentioned specification.

Number and Title of Specification
BS 4041:1966 Polystyrene mouldings.

Dated at Wellington this 5th day of March 1980.

DENYS R. M. PINFOLD,
Director, Standards Association of New Zealand.
(S.A. 114/2/12: 143)

The Standards Act 1965—Specification Declared to be a Standard Specification

Pursuant to section 23 of the Standards Act 1965, the Standards Council, on 29 February 1980, declared the under-mentioned specification to be a standard specification.

Number, Title, and Price of Specification (Post free)
NZS 4217:1980 Pressed metal tile roofs. $6.05.

Copies of the standard specification may be ordered from the Standards Association of New Zealand, World Trade Center, 15-23 Sturdee Street (or Private Bag), Wellington.

Dated at Wellington this 5th day of March 1980.

DENYS R. M. PINFOLD,
Director, Standards Association of New Zealand.
(S.A. 114/2/2: 707)

The Standards Act 1965—Overseas Specifications Available for Comment

Pursuant to subsection (3) of section 23 of the Standards Act 1965, notice is hereby given that the under-mentioned overseas specifications are being considered for declaration as New Zealand standard specifications.

Number and Title of Specification
International Electrotechnical Commission
IEC 155:1973 Starters for fluorescent lamps. $17.20, with Amendment No. 1, $6.40.
IEC 155A:1976 First supplement to IEC 155:1973. $5.10.

All persons who may be affected by these specifications and who desire to comment thereon, may obtain copies from the Standards Association of New Zealand, World Trade Center, 15-23 Sturdee Street (or Private Bag), Wellington, at the prices shown.

The closing date for the receipt of comment is 31 March 1980.

Dated at Wellington this 5th day of March 1980.

DENYS R. M. PINFOLD,
Director, Standards Association of New Zealand.
(S.A. 114/2/1)