31 AUGUST NEW ZEALAND GAZETTE 2979

You are invited to present written submissions to the authority on these matters, including the potential regulatory impact on consumers, industry and government, by Tuesday 12 September 2000:

• Proposal P225—Preliminary Provisions:
  Application, interpretation and general prohibitions.

Preliminary Inquiry

The authority will conduct an inquiry into the draft variations to standards prepared at full assessment of the following proposal.

This matter was previously recommended to the Australia New Zealand Food Standards Council under the section 37 urgency provisions of the ANZFA Act.

The authority is obliged under the Act to hold an inquiry in relation to the variation to Standard K2—Honey and Related Products, prepared in relation to the proposal.

You are invited to present written submissions to the authority on these matters, including the potential regulatory impact on consumers, industry and government, by Wednesday, 27 September 2000:

• Proposal P154—Warning Statement on Royal Jelly.

Telecom

Telecommunications (Information Disclosure) Regulations 1999

The Telecommunications (Information Disclosure) Regulations 1999

From now on, the information Telecom is required to disclose from time to time under the Telecommunications (Information Disclosure) Regulations 1999 will be available as follows:

1. On request at Telecom’s head office:
   Telecom Networks House
   68 Jervois Quay
   P.O. Box 570
   Wellington

2. Via the Internet at:
   http://www.telecom.co.nz/about_telecom/who_we_are/telecomdisclosures.html

The Community Trust of Mid and South Canterbury Inc.

Community Trusts Act 1999

The Community Trust of Mid and South Canterbury Inc.

Annual Report and Consolidated Financial Statements for the Year Ended 31 March 2000

Trust particulars

The Community Trust of Mid and South Canterbury Inc. was incorporated as a charitable trust in accordance with the provisions of the Trustee Banks Restructuring Act 1988. The purpose of the community trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.

Trustees: Mr P. F. McIlraith (chairperson), Mrs C. E. Brand, Ms R. A. Carruthers, Mr L. K. Cooney, Mr A. R. McKay, Mr T. J. McIntyre, Mrs J. J. Rayne, Mrs M. B. Ross, Mrs H. Weekes.

Bankers: WestpacTrust, 243 Stafford Street, Timaru.

Auditors: Martin Wakefield, Chartered Accountants, 26 Canon Street, Timaru.

Executive director: B. E. C. Strathern, P.O. Box 983, Community House, Timaru.

The Community Trust of Mid and South Canterbury Inc. Chairperson’s Report for the Year Ended 31 March 2000

It is with pleasure that I report on the trust’s year ended 31 March 2000.

The total net profit was $4,210,393, including unrealised capital gains of $2,156,554. After making provision for transfers into reserves, an amount of $1,830,265 was available for distribution in the Mid and South Canterbury districts.

As signalled in last year’s report, New Zealand Guardian Trust assumed responsibility for the investment of trust funds as from the end of April 1999, the investment return for the 12 months to 31 March being a satisfactory 12%.

The appointment of an “active” investment manager was a new venture for the trust, and the year under review was certainly one in which trustees gained valuable experience in this initiative, and learned very quickly about the vagaries of the investment market.

Trustees devote much time and energy into ensuring the trust’s capital is invested prudently, to generate the best possible return while focusing on risk minimisation.

Your trust also employs Aon Consultancy to monitor the performance of the investments and assist the trustees on determining asset allocation and risk criteria.

As chairperson, I am satisfied the board policy of investment strategy is correct for an entity of this type where the community money is at stake. Having said that, the investment policy is under constant review.

The environment and function of “not for profit organisations” is experiencing new focus here in New Zealand and indeed, worldwide. Your trust is no exception, as this year we intend to concentrate on corporate governance. The trust is about to embark on a round of strategic planning, looking at aspects of donation criteria and adding creative value to the community we operate in.

During the year, two long-standing trustees completed their terms of office.