27 NOVEMBER NEW ZEALAND GAZETTE 4483

contracts, including any specific risk factors
that apply to trading in any of the particular
contracts or classes of contracts dealt with by
the company;

(ii) one or more documents that clearly describe,
for the prudent but non-expert investor, the
class or classes of specified futures contracts in
which the company intends to deal on behalf of
that person; and

(iii) an investment broker disclosure document
including the information listed in section 3 of
the Investment Advisers (Disclosure) Act 1996.

(c) no employee, director or agent of the company may
give investment advice to any client unless that
director, employee or agent has first provided
investment adviser disclosure to that client in terms
of the Investment Advisers (Disclosure) Act 1996,
including the request disclosure under section 4 of
the Act.

(d) any company document that states the company has
been authorised by the Securities Commission to
carry on the business of dealing in futures contracts
includes a statement to the effect that:

(i) the Securities Commission’s role in authorising
futures dealers is limited and does not imply
approval or endorsement of the business,
trading or solvency of the company; and

(ii) the Securities Commission has not approved
the client services agreement or any disclosure
documents of the company.

(e) the company maintains proper records:

(i) to record dealings in respect of specified futures
contracts with or on behalf of the client;

(ii) to record client money, funds and property held
or received in connection with dealings in
specified futures contracts; and

(iii) which are audited or reviewed, and reported on,
in accordance with the Regulations and the
Financial Reporting Act 1993.

(f) the company has current agreed upon procedures
engagement terms.

(g) the company has appointed a compliance reporter.

(h) copies of the current agreed upon procedures
engagement terms, the company’s compliance
manual and any amendments to these documents
have been deposited with the Securities Commission.

(i) the company’s financial statements are prepared and
registered on the basis that the company is an issuer
in terms of the Financial Reporting Act 1993 and are
audited at least once a year by a qualified auditor
under the Financial Reporting Act 1993.\n
(j) the agreed upon procedures engagement terms
provide for (without limitation):

(i) the client money, funds and property records in
respect of specified futures contracts to be
reviewed and reported on by the compliance
reporter at least once a year;

(ii) the review of, and reporting on, the dealing
practices and systems of the company against
the practices and procedures set out in
the company’s compliance manual by the
compliance reporter (including on-site
inspections of the company’s records and
procedures), such review and reporting to be
undertaken at least once in every six months;

(iii) a copy of the compliance reporter’s reports to
be sent to the Securities Commission by the
compliance reporter;

(iv) the company to provide the compliance reporter
with copies of its annual report and monthly
financial statements including a statement of
financial position, a statement of financial
performance, a statement of cash receipts and
payments that includes receipts and payments
of client monies, funds and property for the
month and a statement of its position with
regard to client funds;

(v) the compliance reporter to give notice to the
Securities Commission before or immediately
upon it resigning or retiring from its position as
compliance reporter.

(k) the company sends a copy of its audited financial
statements to the Securities Commission not more
than three months after the end of each financial
year.

(l) the company maintains adequate professional
indemnity insurance for its business at all times.

(m) the company immediately notifies the Securities
Commission in writing of any of the following
events:

(i) The insolvency of the company or the
bankruptcy of any of its directors.

(ii) If the company, or any of its directors, is
convicted of an indictable offence.

(iii) Where a receiver, provisional liquidator,
liquidator or a similar officer is appointed, or
any resolution is passed or order made for the
winding up or dissolution of the company.

(iv) Any regulatory action taken against the
company or any director of the company
whether in New Zealand or elsewhere.

(v) If any director or member of the senior
management leaves the company or if any new
director or member of senior management is
appointed to the company.

Dated at Wellington this 25th day of November 2003.

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

[L.S.]

JANE DIPLOCK, Chairperson.
au7875

Transit New Zealand

Transit New Zealand Act 1989

Declaring State Highway to be Limited Access Road
—Hauraki District

It is notified that Transit New Zealand, by resolution dated
3 November 2003 and pursuant to section 88 (1) of the
Transit New Zealand Act 1989, hereby declares those parts
of State highway described in the Schedule hereto, and as
more particularly shown on Plans LR/166, LR/159 and
LR/156 and accompanying Schedules held in the office of
the Regional Manager, Transit New Zealand, Hamilton, and
there available for public inspection, to be limited access
road.

Schedule

In Hauraki District, that section of State Highway No. 25
commencing at the north abutment of Whiritoa Stream
Bridge and proceeding, generally, in a south to south-easterly
direction to Golden Valley Road (Route Position 226/0.00 to
Route Position 226/8.41); a distance of 8.41 kilometres.