5 SEPTEMBER

NEW ZEALAND GAZETTE

3529

Postage and Packaging Charge: Mail Orders

If two or more copies are ordered, the remittance should cover the cash price and the maximum charge for the total value of purchases as follows:

Copies can be bought or ordered by mail from Legislation Direct, P.O. Box 12-418, Wellington. Please quote title and serial numbers. Prices for quantities supplied on application. Copies are also available over the counter at the following locations:

Bennetts Bookshop Limited: Bowen House, Lambton Quay (P.O. Box 5334), Wellington; Bennetts Campus Bookcentre, Commerce House, 360 Queen Street (P.O. Box 5513, Wellesley Street), Auckland; Centreplace, Bryce Street (P.O. Box 928), Hamilton; 38-42 Broadway Avenue (P.O. Box 1820), Palmerston North; 111 Cashel Street (Private Bag), Christchurch 1; and located in Whitcoulls, 143 George Street (P.O. Box 1104), Dunedin.

ng6032

General Section

Network Communications

Insurance Companies (Ratings and Inspections)

Act 1994

Change of Rating—Royal & SunAlliance Group

Pursuant to clause 8 (1) of the Insurance Companies (Ratings and Inspections) Act 1994, ratings agency Standard & Poor’s has changed the international Royal & SunAlliance Group’s (“the Group”) “financial strength” rating to “A” on 20 August 2002.

This is one rung lower than its previous rating of “A+”, and moves the company from the top of the “strong” range to the middle of the “strong” range.

This new rating applies to each of Royal & Sun Alliance Insurance (New Zealand) Limited, Royal & Sun Alliance Liability Insurance Limited, and Royal & Sun Alliance Accident Insurance Limited.

This action follows the re-grading of United Kingdom-based Royal & SunAlliance Group PLC following a decline in their capital levels which reflects the recent upheavals in the investment markets.

Standard & Poor’s states, in relation to our parent company, that “an accumulation of pressures over the past three years has reduced capital adequacy to adequate levels in 2002, from very strong levels in 1999.

Royal & SunAlliance has made good progress toward its internal target of raising £800 million ($1.22 billion) of capital, but weak investment markets during 2002 have hindered the capital-rebuilding program.

Royal & SunAlliance is, however, continuing to pursue a number of alternative sources of capital in order to be in a position to fully leverage its competitive market position.”

In the Standard & Poor’s report, it was noted that an accelerated improvement in reported earnings is expected during the second half of 2002 and that Royal & SunAlliance’s rating reflects the Group’s excellent global market position in general insurance and an improving earnings outlook.

ALAN BRADLEY, Chief Executive.

Note: This notice appears as a matter of public record.

gs6022

New Zealand Teachers Council

Education Act 1989

New Zealand Teachers Council Fees From 1 July 2002

Pursuant to Part X of the Education Act 1989, as amended by Part 10A of the Education Standards Act 2001, the following fees (G.S.T. inclusive) will be charged by the New Zealand Teachers Council from 1 July 2002:

Bank charges or third party charges incurred by the New Zealand Teachers Council in processing applications or authorities will be additional.

MARGARET KOUVELIS, Director.
STAN RODGER, Chairperson.

gs5970

Nursing Council of New Zealand

Nurses Act 1977

Order of the Nursing Council in Disciplinary Session in Respect of a Registered Comprehensive Nurse

After due inquiry and in exercise of powers under sections 42 (1) (b), 42 (2) (b) (a), 42 (3) and 48A of the Nurses Act 1977, the Nursing Council of New Zealand (“the council”),