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NEW ZEALAND GAZETTE

No. 69

Balancing of research within outputs

12. The portfolio of research within every output should reflect the need for this research to contribute toward all stated goals i.e. economic, environmental and social. A broad assessment of potential contributions should be prepared and provided to the Minister no later than 31 December 1995. Conditions associated with the publication and critiques of the content of these assessments shall be the same as for research strategies (see section 4 in Appendix V). The estimated contributions of those programmes funded are to be monitored against this assessment as a part of the annual evaluation referred to in paragraph 7.2 in the Appendix VI.

Appendix VII—Boundaries of the PGSF

The PGSF interfaces with a number of other funding mechanisms. Positive and constructive management of the interactions across those interfaces is essential to the effective application of the PGSF investment. Key elements of the management of the interactions between the various S&T funding sources include the need to ensure that:

• The boundaries are well defined so that the goals and accountability of the funding agencies are clear-cut and provider institutions are clear about the eligibility of proposals. Failure to establish clear boundaries creates risks of inefficient duplication of bidding, and of important work going unfunded.

• The establishment and encouragement of the principle of partnership between funding sources is clearly signalled, to maximise the value of the total research and development effort to the nation. Partnership also should be reflected through a shift in an industry’s strategic perspective towards an increased science and technology focus or a greater alignment of the PGSF with the real needs of users to enhance its strategic value.

Two boundaries are of particular importance in the context of priority setting. These are:

The Boundary with public sector operational research

The PGSF should not displace public sector operational research. Other agencies will be expected to maintain their research base and investment. However, there should be scope for PGSF funding to contribute to integrated programmes where public sector agencies are unable to establish arrangements to capture research benefits, or the research produces broad background information or expertise.

The Boundary with private sector research and development

The PGSF is not intended to subsidise research which creates clear and appropriate benefits for a private sector investor. Neither should the PGSF displace private sector investment, i.e. fund projects which the private sector would otherwise have funded by itself. PGSF funding should be aimed at situations where firms are unable to make private arrangements to capture research benefits because the costs of such arrangements means that they are not commercially worthwhile. PGSF funding should also be available to fund the non-appropriate elements of integrated public/private sector research programmes.

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Tourism

New Zealand Tourism Board Act 1991

Notice of Appointment of Deputy Chairman of the New Zealand Tourism Board

Pursuant to section 11, and clause 3 of the First Schedule of the New Zealand Tourism Board Act 1991, the Minister of Tourism is pleased to appoint Barry Charles Thomas, company chairman of Queenstown to be a member and deputy chairperson of the New Zealand Tourism Board for the period expiring with the close of 31 October 1996.

Dated at Wellington this 7th day of July 1995.

JOHN BANKS, Minister of Tourism.

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Authorities and Other Agencies of State

Securities Commission

Securities Act 1978

The Authorised Life Insurance Companies Notice (No. 4) 1995

Pursuant to the Securities Act 1978, the Securities Commission gives the following notice:

Notice

1. Title and commencement and expiry—(1) This notice may be cited as the Authorised Life Insurance Companies Notice (No. 4) 1995.

(2) This notice shall come into force on the 1st day of August 1995.

(3) This notice shall expire with the close of the 31st day of July 1996.

2. Interpretation—(1) In this notice “the Act” means the Securities Act 1978.

(2) Any term or expression which is not defined in this notice, but which is defined in the Act, shall have the meaning given to it by the Act.

3. Authorised life insurance companies—Each life insurance company named in the Schedule to this notice is hereby declared to be an authorised life insurance company for the purposes of the Act in respect of all life insurance policies issued by that company.