10 JUNE THE NEW ZEALAND GAZETTE 1849

Provided that the interest charge is assessed on the reducing
balance as repayments are made, and there are no other charges
covered within the definition of 'cost of credit' in the Act.

Note—That this method will not agree exactly with finance
rates produced under section 6 (1) (a) of the Act.

K. M. PRISK, F.I.A. F.I.A.A., Government Actuary.

24 May 1982.
7937

CREDIT CONTRACTS ACT 1981
REVOLVING CREDIT CONTRACTS
CALCULATION OF FINANCE RATE FOR REQUEST DISCLOSURE

The following formula for calculating the Finance rate is hereby
approved in terms of sections 6 (1) (b) and 46 of the Act:

  C     (365 × 100)

r = ————— × —————————————
AV BAL N

where r = finance rate (percent per annum).
C = total cost of credit (as defined in the Act) for the
billing period.
N = number of days in billing period.
AV BAL = average daily debt balance in billing period (i.e. the
sum of the daily debit balances outstanding divided
by 'N').

Provided however that where credit charges have been calculated
up to the date of the statement including following non-business
day(s) the determination of 'AV BAL' and 'N' shall recognise the
inclusion of such following non-business day(s).

K. M. PRISK, F.I.A. F.I.A.A., Government Actuary.

24 May 1982.
7938

CREDIT CONTRACTS ACT 1981
CALCULATION OF FINANCE RATE FOR CREDIT CONTRACTS WHERE
REPAYMENT IS MADE BY EQUAL INSTALMENTS DUE AT THE END
OF EQUAL PERIODS

The following formula for calculating the finance rate under credit
contracts where—
(a) a single advance of credit is to be made, and
(b) the sum of the credit and the cost of credit (as defined in the
Act) is to be repaid by equal instalments due at the end of
equal periods.

is hereby approved in terms of sections 6 (1) (b) and 46 of the Act.
The finance rate is the value of 'r' which satisfies the formula.

      r
—————————
100 × n

I = —————————————————————————
C 1
1 - —————————————————
r N
(1 + —————————)
100 × n

where I = repayment instalment.
C = Credit.
n = number of repayment instalments per annum
(subject to clauses 1 (3) and 2 (a) of the First Schedule
to the Act).
N = total number of repayment instalments.
r = Finance rate (percent per annum).

Note—That sufficient decimal places must be retained in inter-
mediate steps of the calculation so that the accuracy required by
the Act is attained.

K. M. PRISK, F.I.A. F.I.A.A., Government Actuary.

4 June 1982.
7939

THE NEW ZEALAND GAZETTE

The New Zealand Gazette is published on Thursday
evening of each week, and notices for insertion must be
received by the Government Printer before 12 o'clock of the
day preceding publication.

Advertisements are charged at the rate of 20c per line.

All advertisements should be written on one side of the
paper, and signatures, etc., should be written in a legible hand.

ELECTORAL ROLLS

Government Bookshops no longer handle the sale of Electoral
Rolls. Inquiries should be directed to the Director-General,
Post Office, Electoral Roll Control Centre, P.O.H.Q., Welling-
ton.

GENERAL PUBLICATIONS

THE GEOLOGY OF NEW ZEALAND
Edited by R. P. Suggate, et al.

820 p. 1978. $92.50 plus $4.80 p & p

The definitive work on New Zealand geology, this superbly
produced 820-page 2-volume set has been written by some
38 specialists, under the editorship of three of New Zealand's
most eminent geologists. The Geology of New Zealand is
illustrated with over 370 photographs in colour and mono-
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comprehensive supplement is included, incorporating all avail-
able new information up to the time of printing, together with
five indexes.

GOVERNMENT ACCOUNTING IN NEW ZEALAND
By David A. Preston

108 p. 1980. $9.75 plus 85c p & p

This book will be of particular interest to those whose daily
occupations bring them into contact with the Government
financial system; notably Government officials, journalists,
members of Parliament, accountants in business, and the
general commercial community, as well as academics and
students. The text has, however, also been written with the
general reader in mind.

GROWING, SHARING, LEARNING
J. G. JOHNSON, Chairman

120 p. 1977. $3.95 plus 55c p & p

The Report of the Committee on Health and Social Education
which was set up in 1976 to:
(a) Identify the conditions under which healthy growth
and development may be fostered in schools.
(b) To make recommendations on the studies and activities
that should constitute school programmes, organisa-
tion, and relationships.

Department of Education,

LIVING LETTERS
STATE SERVICES COMMISSION

36 p. 1980 reprint. $1.75 plus 55c p & p

One of the aims in letter writing is to get ideas across to the
reader clearly and briefly. But do letters always say what
is meant? Even if they are clear to the writer, will the reader
understand them easily? If you are still using the old clichés
of "acknowledging receipt of", "according to our records",
and "enclosed please find" it is almost certainly time to change
your attitude to writing living letters.

MAORI AGRICULTURE
By Elsdon Best

NATIONAL MUSEUM BULLETIN No. 9

315 p. 1976. $13.50 plus $1.50 p & p

The only comprehensive study of Maori agriculture available,
this bulletin adds a further volume to the series of Elsdon
Best's works which the Government Printer undertook to
reprint preserving the original text and bulletin numbers. I
recommend this book and the series as a whole; to collectors,
archaeologists, and to those studying the prehistoric economy
of the Maori people. (Government Printer.)