13 JANUARY
NEW ZEALAND GAZETTE
43

acting on the advice and with the consent of the Executive Council, and on the advice of the Minister of Commerce given in accordance with a recommendation of the Securities Commission, made an order declaring IMI Pacific Group Limited, Walakahai Pacific Corporation Limited, Willard Karaitiana Amaru and John Edward Baylis to be subject to statutory management under the Corporations (Investigation & Management) Act 1989 and that David Donald Crichton and Keiran Anne Horne, chartered accountants of Crichton Horne & Associates, Christchurch, be appointed as joint and several statutory managers of these entities.

Inquiries may be directed during normal business hours to Miss Tarsha Triplow.

DAVID DONALD CRICHTON and KEIRAN ANNE HORNE, Statutory Managers.

Crichton Horne & Associates, Old Library Chambers, 109 Cambridge Terrace, P.O. Box 3978, Christchurch. Telephone: (03) 379 7929. Facsimile: (03) 379 3773.

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Mitsui Marine and Fire Insurance Co. Limited

Change of Rating

Mitsui Marine and Fire Insurance Co. Ltd, New Zealand Branch, announced that as from the 23rd day of December 1999 the rating of its financial strength had been downgraded to AA by the rating agency Standard & Poor’s (Australia) Pty. Ltd.

This notice is published pursuant to the terms of the Insurance Companies (Ratings and Inspections) Act 1994.

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AMP Life Limited

Change of Rating

Pursuant to the Insurance Companies (Ratings and Inspections) Act 1994

Approved rating agency Standard & Poor’s has downgraded AMP Life Limited (Australia and New Zealand)’s insurer financial strength from AAA CreditWatch Negative to AA+ CreditWatch Negative, effective from the 23rd day of December 1999.

AA+ denotes “very strong financial strength”.

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Departmental Notices

Accident Rehabilitation and Compensation Insurance Corporation

Accident Insurance Act 1998

Competitive Neutrality in the Self-Employed Work Accounts

Direction to the Accident Compensation Corporation relating to Government policy on Competitive Neutrality in the Self-Employed Work Account established under the Accident Insurance Act 1998 (“AI Act”).

To the Accident Compensation Corporation (“ACC”)

Background

1. Section 301 (2) of the AI Act requires that the extent of funds from premiums are calculated on the basis of:
   (a) full funded costs; and
   (b) a competitive neutrality portion.

2. The purpose of this direction is to set the method for calculating the competitive neutrality amount to be added to Self-Employed Work Account premiums from 1 July 2000.

3. Section 299 (4) requires that any amount collected for competitive neutrality is to be paid to the Crown on an annual basis. Section 301 (3) of the AI Act states that no amount for competitive neutrality may be collected in respect of the period before 1 July 2000.

Policy Direction

4. Pursuant to sections 301 (2) (b) and 339 of the AI Act, the competitive neutrality portion shall be a “Nil” amount.

5. This direction continues in force until revoked.

Dated at Wellington this 13th day of December 1999.

DR MICHAEL CULLEN, Minister for Accident Insurance.

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Agriculture & Forestry

Animal Welfare Act 1999

Additional Exemptions From the Requirements for Animal Welfare Export Certificates under the Animal Welfare Act 1999 (Notice No. 1148)

Having had regard to the matters set out in section 48 (3) of the Animal Welfare Act 1999 and being satisfied that the risk to the welfare of the animals specified in this notice is minimal, I hereby give notice;

That in addition to the exempted animals specified in Notice No. 1145 published in the New Zealand Gazette on the 2nd day of December 1999 in Issue No. 184 at page 4351;

Pursuant to sections 40 (2) (a) and section 48 (1) the following animals are exempt from the requirements of section 40 (1):

Octopus
Squid
Poultry hatching eggs, being avian pre-hatched young in the last half period of development.

Dated at Wellington this 23rd day of December 1999.

BRUCE J. ROSS, Director-General of Agriculture and Forestry.

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