1414

NEW ZEALAND GAZETTE

No. 76

managing the assets after 1 July 1993, or by meeting costs incurred by Regional Forests Limited in respect of the transfer process:

(d) In preparing the statement under paragraph (b) of this subclause, the Auckland Regional Council and the Auckland Regional Services Trust shall have regard to the obligations and responsibilities of the Auckland Regional Council under—

(i) Section 45B of the Auckland Regional Authority Act 1963;

(ii) Sections 575B and 619–619I of the Local Government Act 1974;

(iii) The Watercare Services Limited Sale and Purchase Agreement; and

(iv) The lease, licence, and agreement to license relating to certain lands in the Hunua Ranges and the Waitakere Ranges between the Auckland Regional Council and Watercare Services Limited dated 12 October 1992.

(e) The statement prepared under paragraph (b) of this subclause shall record the extent and nature of agreement and disagreement between the parties, and specify any conditions which the Auckland Regional Council and the Auckland Regional Services Trust consider should be imposed on the transfer:

(f) The Minister shall, after consultation with the Auckland Regional Council, the Auckland Regional Services Trust, Regional Forests Limited, Watercare Services Limited and any other parties he considers to be affected, determine the assets and liabilities—

(i) To be transferred to Regional Forests Limited or to the Auckland Regional Services Trust; and

(ii) To remain with the Auckland Regional Council,

together with any conditions the Minister considers should be imposed on the transfer of those assets and liabilities (as if they were conditions imposed under section 707Q (8) and (9) of the Local Government Act 1974):

(g) The determination of the Minister under paragraph (f) of this subclause shall be implemented by Order in Council, pursuant to section 707R (2) of the Act, made before 28 February 1994:

(h) The Minister may by notice in writing to the Auckland Regional Council and the Auckland Regional Services Trust approve an extension to the dates referred to in paragraphs (b) and (g) of this subclause.

PART II MARITIME ASSETS

7. Ports of Auckland Limited

(1) Subject to subclause (2) of this clause, the following assets and liabilities are hereby vested in the Auckland Regional Services Trust:

(a) All shares in Ports of Auckland Limited held by or on behalf of the Auckland Regional Council as at vesting date:

(b) 10,432,541 uncalled $1 shares in Ports of Auckland Limited:

(c) The obligations, liabilities, and benefits of the Auckland Regional Council under the Ports of Auckland Sale and Purchase Agreement, except the obligations, liabilities, and benefits under clause 7 of that Agreement:

(d) Subject to the provisions of clause 19(1)(f) of this Order, all rights to receive any dividends, distributions or return on capital intended to be paid to the Auckland Regional Council on or at any time before 1 July 1993.

(2) It is a condition of the vesting of assets and liabilities in the Auckland Regional Services Trust under subclause (1) of this clause, that the Auckland Regional Council and the Auckland Regional Services Trust shall be jointly and severally responsible for the obligations, liabilities, and benefits of the Auckland Regional Council under clause 7 of the Ports of Auckland Sale and Purchase Agreement.

8. Other former Auckland Harbour Board assets and liabilities

(1) Subject to subclause (2) of this clause, the following assets and liabilities are hereby vested in the Auckland Regional Services Trust:

(a) The 72.5% interest of the Auckland Regional Council in the Auckland Regional Council/Auckland City Council Downtown Joint Venture Heads of Agreement, dated 27 April 1989, as detailed in Part 1 of the First Schedule to this Order and Part 1 of the Second Schedule to this Order:

(b) All obligations, liabilities and benefits of the Auckland Regional Council under the Auckland Regional Council/Auckland City Council Downtown Joint Venture Heads of Agreement, dated 27 April 1989:

(c) The Auckland Regional Council’s share in the Auckland Regional Council/Auckland City Council Mt Roskill properties (Lynfield) as detailed in Part 2 of the First Schedule to this Order:

(d) The Auckland Regional Council’s share in the Auckland Regional Council/North Shore City Council properties as detailed in Part 3 of the First Schedule to this Order and Part 2 of the Second Schedule to this Order:

(e) Properties owned by the Auckland Regional Council in Auckland City as detailed in Part 4 of the First Schedule to this Order:

(f) The assets of the former Auckland Harbour Board created by deed dated 23 December 1988 and the Auckland Harbour Board General Purposes Trust created by deed dated 22 December 1988, and vested in the Auckland Regional Council in accordance with the Local Government (Auckland Harbour Board Property) Reorganisation Order 1990**, as described in the Third Schedule to this Order.

(2) It is a condition of the vesting of assets and liabilities in the Auckland Regional Services Trust under subclause (1) of this clause that:

(a) On the sale or realisation of any or all of the 72.5% interest of the Auckland Regional Council in the asset specified in paragraph (a) of subclause (1) of this clause, the proceeds from any such sale shall be applied to the servicing and/or repayment of debt:

(b) Any proceeds from any such sale or realisation by the Auckland Regional Council of any or all of the 72.5% interest of the Auckland Regional Council in the asset specified in paragraph (a) of subclause (1) of this clause which occurs prior to 1 July 1993 and which are received by the Auckland Regional Council shall vest in the Auckland Regional Services Trust:

(c) The Auckland Regional Services Trust shall, on 1 July 1993, vest in the Auckland Maritime Museum Trust Board assets to the value of $2 million vested in the Auckland Regional Services Trust pursuant to paragraph (f) of subclause (1) of this clause:

(d) The Auckland Regional Services Trust shall apply the assets specified in the Third Schedule to this Order but excluding the assets to be vested in the Auckland Maritime Museum Trust Board as specified in paragraph (c) of this subclause, for the servicing and/or repayment of debt.

PART III OTHER PROPERTY

9. Regional House

The following assets and liabilities are hereby vested in the Auckland Regional Services Trust:

(a) The land and buildings known as New Regional House and detailed in Part 5 of the First Schedule to this Order:

(b) All obligations, liabilities, and benefits under all leases,