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(2) Any term or expression that is defined in the Act and used, but not defined, in this notice has the same meaning as in the Act.

Part 1

Authorisation in respect of Exchange traded futures contracts

3. Authorisation—(1) Rabobank is authorised to carry on the business of dealing in futures contracts made on or effected through the Exchange or a futures exchange in a country other than New Zealand which is authorised by the laws of that country to operate as a futures exchange.

(2) The authorisation in this Part is subject to the conditions that:

(a) Rabobank is a dealer within the meaning of the rules of the Exchange; and

(b) Rabobank is bound by the rules of the Exchange.

Part 2

Authorisation in respect of non-Exchange traded futures contracts

4. Authorisation—(1) Rabobank is authorised to carry on the business of dealing in futures contracts other than futures contracts made on or effected through the Exchange or a futures exchange in a country other than New Zealand which is authorised by the laws of that country to operate as a futures exchange.

(2) The authorisation in this Part applies only to dealing in futures contracts that consists of advising or assisting a person in connection with the acquisition or disposition of a futures contract described in subclause (1).

(3) The authorisation in this Part is subject to the conditions that:

(a) Every person that Rabobank advises or assists in connection with the acquisition or disposition of a futures contract to which this Part applies is a counterparty or potential counterparty to a futures contract in respect of which Rabobank is or intends to be a party; and

(b) Rabobank is satisfied on reasonable grounds that any counterparty to a futures contract to which this Part applies and any person to whom Rabobank gives advice or assistance in connection with the acquisition or disposition of a futures contract to which this Part applies, is:

(i) A person who owns tangible assets with a market value of more than $10 million; or

(ii) A trustee or a funds manager, acting in that capacity, who has under that person’s control, as trustee or funds manager, assets with an aggregate market value of more than $50 million; or

(iii) A person who is a dealer within the meaning of the rules of the Exchange and who is authorised to carry on the business of dealing in futures contracts under the Act; or

(iv) A person authorised in another jurisdiction by the competent authority of that jurisdiction to deal in futures contracts; or

(v) Her Majesty the Queen in right of New Zealand, a Crown entity named in the Fourth Schedule to the Public Finance Act 1989, or a state enterprise named in the First or Second Schedule to the State-Owned Enterprises Act 1986 (each as amended from time to time); or

(vi) A person who is a statutory corporation; or

(vii) A person who is a related body corporate of a person mentioned in subparagraphs (i) to (vi);

and

(c) Before acquiring or disposing of any futures contract in respect of which the authorisation in this Part applies, Rabobank is satisfied on reasonable grounds that the counterparty is contracting:

(i) As principal on its own account; or

(ii) On behalf of a related body corporate; or

(iii) As trustee of a trust or manager of a managed fund; and

(d) The terms of every futures contract in respect of which the authorisation in this Part applies:

(i) Create obligations that cannot be transferred or terminated by either party to the futures contract without the consent of the other party; and

(ii) Require that any transfer of obligations under the futures contract can be made only to a person who meets the criteria described in paragraphs (b) and (c).

Dated at Wellington this 23rd day of May 2000.

[L.S.]

The Common Seal of the Securities Commission was affixed in the presence of:

E. H. ABERNETHY, Chairman.

a3774

Land Notices

Conservation

Conservation Act 1987

Authorisation of the Exchange of Part of Stewardship Area for Other Land

Pursuant to section 16A (1) of the Conservation Act 1987, the Conservator of the Wellington Conservancy of the Department of Conservation authorises the exchange of that part of the stewardship area described in the First Schedule, for the land described in the Second Schedule, and further specifies that the land in the Second Schedule be held for conservation purposes.

Wellington Land District—Wellington City

First Schedule