NEW ZEALAND GAZETTE

No. 181

be payable in respect of the period during which it is a Category A bank or a Category B bank, as the case may be. Where a Category A bank becomes a Category B bank, or vice versa, it shall, as from the date on which such change occurs, be liable to pay an annual fee calculated at the rate applicable in respect of that new situation.

(3) The annual fee shall be payable in 12 monthly instalments, each instalment becoming due on or before the 20th day of every month of the period covered by this notice.

(4) Where the risk adjusted exposures of a registered bank are reduced by reason of the fact that any subsidiary of that registered bank becomes a registered bank, the fee of the first registered bank for the period after the date of registration of that subsidiary shall be recalculated, in accordance with the formula set out in paragraph 2 (1) of this notice, after deduction of the risk adjusted exposures of that subsidiary as at 31 March 1993 (subject to paragraph [2] (3) above).

Explanatory Note:

This note is not part of the Notice but is intended to indicate its general effect and the basis on which the annual fee is calculated and its relationship to the anticipated costs of the Reserve Bank in exercising the powers conferred on it by Part V of the Act.

1. Pursuant to section 79 of the Act, in determining fees the Reserve Bank has had regard to the anticipated banking supervision costs for the bank’s 1993–94 financial year.

2. The basis for the proposed method of cost allocation is that the fee for individual banks should comprise a fixed element, representing a flat fee for basic supervision and policy development/maintenance, as well as a variable element which broadly relates to the intensity of supervision which different banks receive. This intensity varies according to the size of the bank and, in the case of international banks, on the allocation of supervisory responsibilities between New Zealand and overseas banking supervisors.

3. The fees payable pursuant to section 79 and determined in accordance with this notice will recover approximately 60 percent of the anticipated cost of the Reserve Bank’s banking supervision function for the Reserve Bank’s 1993–94 financial year.

RUTH RICHARDSON, Minister of Finance.

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Transit New Zealand

Transit New Zealand Act 1989

Declaring State Highway to be a Limited Access Road—State Highway No. 1, Fairfield to Mosgiel

It is noted that Transit New Zealand, by resolution dated 8 December 1993 and pursuant to section 88 (1) of the Transit New Zealand Act 1989, hereby declares that part of State Highway No. 1, Fairfield to Mosgiel, from the intersection with Saddle View Place (Route Position 715/3.15) in a generally south-westerly direction for a distance of 3.55 kilometres to Braeside Avenue as more particularly shown on Sheets 1 and 2 of Plan 72/14/103/7724 and accompanying Schedule held in the office of the Regional Manager, Transit New Zealand, Dunedin and there available for public inspection, to be a limited access road.

Dated at Wellington this 13th day of December 1993.

M. K. LAUDER, State Highways Manager, Transit New Zealand.

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Bylaw Fixing the Maximum Speed of Vehicles on Part of State Highway No. 6 at Stoke

Pursuant to section 61 (2) of the Transit New Zealand Act 1989, and section 72 (1) (j) of the Transport Act 1962, Transit New Zealand makes the following bylaw.

B y l a w

1. This bylaw may be cited as Transit New Zealand Bylaw 1993/6.

2. This bylaw shall come into force immediately.

3. In this bylaw “motor vehicle” has the meaning assigned to it in section 2 (1) of the Transport Act 1962.

4. No person shall drive any motor vehicle at a speed exceeding 80 kilometres an hour on that part of State Highway No. 6 (Blenheim to Invercargill via Nelson and Greymouth) from a point 100 metres south of Dryden Place (at Route Position 116/8.71) to a point 100 metres west of Champion Road (at Route Position 116/11.04).

5. Every person who commits an offence against this bylaw is liable upon summary conviction to a fine not exceeding $500.

This bylaw is made by delegated authority from the Transit New Zealand Authority.

Dated at Wellington this 10th day of December 1993.

J. H. VAN BARNEVELD, Land Transport Manager, Transit New Zealand.

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