1 MAY THE NEW ZEALAND GAZETTE 1289

representatives to the Nelson Raspberry Marketing Committee
will be open for inspection during ordinary office hours at
the following places, viz., Ministry of Agriculture and
Fisheries, Head Office, Wellington, Nelson and Blenheim;
also at the following post office, viz., Motueka, Upper
Moutere, Wakefield, Brightwater, Nelson, Tapawera, Tadmor,
and Blenheim.

The roll will be available for public inspection for a
period of 7 days from 23 May 1980.

Nomination forms may be obtained on application to any
of the above offices or from the Returning Officer, Ministry
of Agriculture and Fisheries, Nelson, not later than noon
on the 9th day of July 1980.

Dated at Nelson this 2nd day of May 1980.
J. K. PENMAN, Returning Officer.

Local Authorities Loans Act 1956—Rates of Interest

Pursuant to section 9 (4A) of the Local Authorities Loans
Act 1956 (as inserted by section 4 (3) of the Local Authorities
Loans Amendment Act 1967), notice is hereby given that
the Local Authorities Loans Board, acting with the approval
of the Minister of Finance, has determined as follows:

1. This general determination shall apply to all money, for
   which any local authority has received the sanction of the
   Board, given before the date of this notice, to borrow by
   way of special loan, other than money borrowed before the
   2nd day of May 1980.

2. The rate or rates of interest, that may be paid by any
   local authority in respect of any such money borrowed by
   it, shall be such as shall not produce to the lender or lenders
   a rate or rates of interest exceeding the following rates:
   (a) For money borrowed for any period of 1, 2, or 3
   years, 12 percent per annum;
   (b) For money borrowed for any period of 4 or 5 years,
   13.5 percent per annum;
   (c) For money borrowed for a period of 6 years, 14 percent
   per annum;
   (d) For money borrowed for any period of 7 years or
   more 13 percent per annum.

3. No money to be repaid by equal aggregate yearly or
   half-yearly instalments of principal and interest shall be
   borrowed for a term of less than 6 years.

4. No money to be repaid out of a sinking fund shall be
   borrowed for a term of less than 6 years, provided that a
   portion of such money, not exceeding 40 percent thereof may
   be borrowed for terms of either 3 and/or 4 and/or 5 years.

5. The general determination made by the Board and pub-
   lished in the Gazette on the 19th day of April 1979, at page
   1149, is hereby consequentially cancelled.

6. All sanctions to which this general determination applies
   shall be varied accordingly.

Dated at Wellington this 29th day of April 1980.
J. R. BATTERSBY,
Chairman, Local Authorities Loans Board.

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
the close of business on 1 May 1980, 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:

17 per cent 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

22½ per cent 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 to its balances
and holdings as aforesaid for a calendar month to the amount
herebefore 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 amount 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
(b) that in the case of a borrowing made during
the first 10 business days of a calendar month to
make up balances and holdings for the preceding
calendar month, be deemed to be a part of and be
included in the balance held by that trading bank
at the Reserve Bank on the last day of the preceding
calendar month;
and the proceeds of any such borrowing shall not
be included in the balances held by that trading bank
at the Reserve Bank during any other calendar
month.

R. W. R. WHITE, Governor.

Notification of Vacancy of Seat in the House of Representatives
for the Electoral District of Onehunga

In compliance with the provisions of section 72 of the Elec-
toral Act 1956, I, John Richard Harrison, Speaker of the
House of Representatives of New Zealand, hereby notify
that Frank Lewis Rogers, a member of the House of Repre-
sentatives of the Electoral District of Onehunga, died on the
25th day of April 1980, during a recess of the House, and
that the said seat in the House of Representatives for the said
Electoral District is vacant by reason of such death.

Dated at Wellington the 29th day of April 1980.
J. R. HARRISON, Speaker.

Notification of Resignation of Seat in the House of Represen-
tatives for the Electoral District of Northern Maori

In compliance with the provisions of section 72 of the
Electoral Act 1956, I, John Richard Harrison, Speaker of
the House of Representatives, hereby notify that Matiu Rata
has resigned his seat in the House of Representatives for the
Electoral District of Northern Maori and that the said seat
is vacant by reason of such resignation.

Dated at Wellington, the 30th day of April 1980.
J. R. HARRISON, Speaker.