NEW ZEALAND GAZETTE

24 OCTOBER

Maritime Safety Authority

Maritime Transport Act 1994

Marine Protection Rules

Comments are invited on the following proposed rules being developed under the Maritime Transport Act 1994:

Part 103—Notifications - Oil and Noxious Liquid Substances.

Part 132—Dispersants and Demulsifiers.

Maritime Rules

Comments are invited on the following proposed rule being developed under the Maritime Transport Act 1994:

Part 22—Collision Prevention.

Comments should be made by 29 November 1996.

Copies of the Parts are available, free of charge, from the Eighth Floor, AMP House, 109 Featherston Street, Wellington, or by writing to Audrey Taulalo at P.O. Box 27-006, Wellington. Telephone: (04) 494 1239. Facsimile: (04) 473 8111.

Copies are being sent to all those persons registered for receipt of these Parts.

For further information write to the Manager, Standards, at the above address.

DAVID EYRES, Manager, Standards.
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Overseas Investment Commission

Overseas Investment Act 1973

Office of the Minister of Finance

10 October 1996

Mr R. W. Stannard
Chairman
Overseas Investment Commission
P.O. Box 2498
WELLINGTON

Dear Mr Stannard

Facilitating Australian Investment

The Minister of Finance recently exchanged letters with the Hon. Peter Costello, the Australian Treasurer, relating to some investment and tax aspects of our economic relationship with Australia. A copy of those letters is attached. As you will see from the letters, both countries acknowledge the importance of bilateral investment. Moreover, both Governments are keen to encourage further growth in efficient trans-Tasman investment.

Our long term aim is to see the elimination of all barriers to trans-Tasman investment. In the interim we wish to ensure that the existing relatively liberal regime in which we operate, and which sees us benefit from the inflow of investment from Australia, is able to continue. We also wish to ensure that any impediments to investment under our current regime are minimised. We would, therefore, ask the Overseas Investment Commission to assist the Treasury in an investigation of the current foreign investment regulatory regime to ascertain what amendments may facilitate investment from Australia.

Section 9 (2) of the Overseas Investment Act 1973 requires the Commission to comply with the general policy of the Government transmitted in writing by the Minister of Finance and the Minister of Lands. Accordingly, we wish to convey the following general policy of the Government in relation to the functions of the Commission, insofar as they relate to investment from Australia:

• the Government welcomes investment from Australia.
• We believe that trans-Tasman investment flows are beneficial to our economy and that it is extremely important that these investment flows continue unimpeded; and
• the Government would like to ensure that the screening process operated by the Overseas Investment Commission remains at least as liberal as it is at present. Further to our letter to you of 21 December 1995, we would like to reaffirm that your policy approach should continue on the basis that proposals should be approved unless there is a very good reason, in terms of our legislative criteria, to decline them. Furthermore, you should continue to interpret the criteria that applications must meet in a way which facilitates rather than hinders investment.

Finally, we request that the Commission examine its procedures to determine ways to facilitate the application process for Australian investors and reduce their compliance costs.

Yours sincerely

RIGHT HON. W. F. BIRCH, Minister of Finance.
RIGHT HON. DENIS MARSHALL, Minister of Lands.
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Office of Film & Literature

Classification

Public Finance Act 1989

Notice of Publication of Annual Report

Pursuant to section 44A of the Public Finance Act 1989, the Office of Film & Literature Classification hereby gives notice that it has published its annual report for the year ended 30 June 1996, containing its financial statements, audit report and statement of responsibility for the same period.

Dated this 15th day of October 1996.

K. M. PATERSON, Chief Censor of Film & Literature,
Office of Film & Literature Classification.
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