New Zealand Gazette – 1993 – No. 42

Page 818

✨ Local Government Notice



NEW ZEALAND GAZETTE

No. 42

Government Notice

Internal Affairs

Local Government Act 1974

Pursuant to and for the purposes of paragraph (c) of the definition of “specified assets”, and the definition of “specified liabilities”, in section 707N of the Local Government Act 1974, the Minister of Local Government gives the following notice:

Notice

  1. This notice may be cited as the Auckland Region Divestment Notice 1993.

  2. This notice shall come into force on the day after the date of its notification in the Gazette.

  3. Words used in this notice which have a defined meaning in Part XLIVB of the Local Government Act 1974 shall have the same meaning in this notice.

  4. (1) For the avoidance of doubt, the following assets are declared to be specified assets for the purposes of Part XLIVB of the Local Government Act 1974:

    (a) Those investments described in the First Schedule of this notice, together with any unspent interest, benefit or accretion earned on or received from or in respect of those investments;

    and

    (b) All interests in land transferred to the Auckland Regional Council from the former Auckland Harbour Board by the Local Government (Auckland Region) Reorganisation Order 1989, owned by the Auckland Regional Council when this notice comes into force.

    (2) The following liabilities are declared to be specified liabilities for the purposes of Part XLIVB of the Local Government Act 1974:

    (a) Every liability raised or incurred by the Auckland Regional Council for the purpose of repaying or refinancing in whole or in part any liability that is or becomes a “retained liability” pursuant to section 707ZVA (2) of the Local Government Act 1974; and

    (b) Every liability raised or incurred by the Auckland Regional Council for the purpose of repaying or refinancing in whole or in part any liability raised or incurred as referred to in paragraph 4 (2) (a) of this notice.

First Schedule

Investments of the Auckland Regional Council as at 23 March 1993:

Counterparty Risk Type of Investment Face Value at Maturity Maturity Date
Westpac Bank Certificate of deposit $4,500,000 01-07-1996
Trust Bank Certificate of deposit $2,000,000 07-07-1993
Bank of New Zealand Certificate of deposit $400,000 13-08-1993
National Bank of Australia NZ Certificate of deposit $3,000,000 13-01-1994
NZ Government Stock $6,000,000 15-07-1997
NZ Government Stock $6,000,000 15-07-1998

Dated at Wellington this 29th day of March 1993.

WARREN COOPER, Minister of Local Government.

PUBLISHED BY AUTHORITY OF DEPARTMENT OF INTERNAL AFFAIRS.
GP PRINT LIMITED, WELLINGTON, NEW ZEALAND—1993

ISSN 0111-5650 Price $1 (incl. GST)

39170C—93A


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✨ LLM interpretation of page content

🏛️ Auckland Region Divestment Notice 1993

🏛️ Governance & Central Administration
29 March 1993
Local Government Act 1974, Auckland Regional Council, Specified Assets, Specified Liabilities
  • WARREN COOPER, Minister of Local Government