7 AUGUST NEW ZEALAND GAZETTE 2017

change in the C.P.I. excluding the interest costs component.

(c) In the event of such shocks, the Reserve Bank shall be fully accountable for its handling of the price effects, and, in particular, for any movements outside the 0 to 3 percent band. In each Policy Statement made under section 15 of the Act, the Bank shall detail fully its estimate of the direct price impact of any such shock and the impact on the Bank’s achievement of the price stability target. The Bank shall also detail what measures it has taken, or proposes to take, to ensure that the effects of such shocks on the inflation rate are transitory.

4. Renegotiation of the Targets

The policy targets are established on the understanding that the monetary policy instruments available to the Bank are adequate to achieve the objective. The Governor shall inform the Minister if he considers that any changes in the availability or effectiveness of these policy instruments impair the conduct of monetary policy. The Minister and the Governor may then set new policy targets.

5. Implementation

(a) The Bank shall implement monetary policy in a sustainable, consistent and transparent manner.

(b) Each Policy Statement released by the Bank under section 15 of the Act shall contain a statement of how the Bank proposes to formulate and implement monetary policy to ensure that price stability is maintained over the succeeding five years.

Signed in Wellington this 10th day of December 1996.

DONALD T. BRASH, Governor of the Reserve Bank of New Zealand.

BILL BIRCH, Minister of Finance.

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Transit New Zealand

Transit New Zealand Act 1989

Bylaw Regulating Speed of Vehicles on State Highway No. 1 at Dairy Flat

Pursuant to section 61 (3) of the Transit New Zealand Act 1989, Transit New Zealand hereby makes the following bylaw:

B y l a w

1. Title and commencement—This bylaw may be cited as the Transit New Zealand Bylaw 1997/14.

2. This bylaw shall come into force 28 days after its publication in the New Zealand Gazette.

3. Interpretation—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 a motor vehicle at a speed exceeding 80 kilometres an hour on that part of State Highway No. 1 at Dairy Flat commencing at a point (at Route Position 303/1.68) 900 metres north of the intersection of State Highway No. 1 and Richards Road and extending in a generally southerly direction for a distance of 700 metres to a point (at Route Position 303/2.38) 200 metres north of the intersection of State Highway No. 1 and Richards Road.

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

Dated at Wellington this 4th day of August 1997.

Signed on behalf of Transit New Zealand by:

J. H. VAN BARNEVELD, National State Highway Manager, Transit New Zealand.

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Land Notices

Conservation

Conservation Act 1987

Declaration That Conservation Area be a Recreation Reserve and Vesting of Reserve

Pursuant to section 8 (1A) of the Conservation Act 1987, the Minister of Conservation hereby declares that, the conservation area described in the Schedule hereto, be set apart as a reserve described in the Reserves Act 1977, and classified as a recreation reserve, subject to the provisions of section 17 of the latter Act, and further, pursuant to section 26 of the Reserves Act 1977, vests the said reserve in The South Wairarapa District Council in trust for that purpose.

Schedule

Wellington Land District—South Wairarapa District

3900 square metres, more or less, being Lot 37, D.P. 12843, situated in Block VIII, Onoke Survey District. All C.T. 51D/360.

Dated at Wellington this 29th day of July 1997.

DR NICK SMITH, Minister of Conservation.

(DOC R.O. G08/259)

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Reduction in Marginal Strips

Pursuant to section 24A (2) of the Conservation Act 1987, and to a delegation from the Minister of Conservation (a copy of which may be inspected at the Director-General’s office), the Conservator of the Nelson/Marlborough Conservancy of the Department of Conservation, hereby approves the reduction in the width of the marginal strips required on the disposition of the land in the Schedule hereto, to 3 metres.

Schedule

Marlborough Land District—Marlborough District

1.0117 hectares, more or less, being Sections 13 and 17, Block II, Heringa Survey District. All certificate of title 5D/1281.

4047 square metres, more or less, being Section 12, Block II, Heringa Survey District.