21 OCTOBER 2004 NEW ZEALAND GAZETTE, No. 134 3315

In respect of the exemption contained within this notice, the Commission imposes the following terms and conditions:

1. That the Clearing Manager determines under Rule 11.7.1 the amount payable by each of the relevant participants for availability costs calculated under Rule 11.5.1 by replacing the definition of "availability cost" in that rule with the following definition:

"availability cost" means the costs incurred by the system operator in purchasing instantaneous reserve and providing that instantaneous reserve for a trading period, including:

(a) Payments made by the system operator for that trading period pursuant to contracts which secure the availability of instantaneous reserves less any readily identifiable and quantifiable costs to be paid by asset owners in respect of that ancillary service as a condition of any dispensations stipulated in accordance with Rule 7.3.1 of section III of Part C; and

(b) The annual and variable costs (including any constrained-on costs) incurred by the system operator under any other contracts allocated by the system operator to that trading period but excludes any administrative cost;

2. Relevant participants make payments for availability costs as determined by the Clearing Manager under the terms and conditions above.

3. The exemption expires on 31 March 2005.

The Commission notes that Regulation 196 provides that an exemption may be varied or revoked, either on the application by a participant or on the initiative of the Commission.

Commission’s Reasons for Grant of the Exemption Contained in This Notice

The reasons for grant of the exemption are as follows:

(a) It is not fair or economically efficient to continue double charging dispensated generators for instantaneous reserves related to their dispensation.

(b) The Commission is unable to identify any participants who would be unduly affected by the grant of the exemption.

(c) Granting the exemption will allow time for the Commission to investigate a rule change to appropriately address the issue.

Date Upon Which the Exemption Becomes Effective

Pursuant to Regulation 195, the date upon which the exemption contained in this notice takes effect, being a date which is not earlier than the date of the New Zealand Gazette notice in respect of the exemption, is 21 October 2004.

Pursuant to Regulation 194 (5) (c), the Commission will publicise the exemption on the Commission’s web site and will have regard to any views that participants make known to it by 4 November 2004 at 5.00 p.m.

For and on behalf of the Electricity Commission:
ROY HEMMINGWAY, Chair.
au6982

Maritime Safety Authority of New Zealand

Submarine Cables and Pipelines Protection Act 1996

Appointment of Protection Officers Under the Submarine Cables and Pipelines Protection Act 1996

Whereas, pursuant to section 441 of the Maritime Transport Act 1994, the Minister of Transport did delegate those powers under section 16 of the Submarine Cables and Pipelines Protection Act 1996 to the Maritime Safety Authority by an instrument of delegation dated 19 March 1997.

And whereas, pursuant to section 442 of the Maritime Transport Act 1994, the Maritime Safety Authority did delegate those powers under section 16 of the Submarine Cables and Pipelines Protection Act 1996 to the Director of Maritime Safety by an instrument of delegation dated 26 March 1997.

Therefore I, Russell Paul Kilvington, Director of Maritime Safety, hereby appoint the following employees of HELiPRO:

Barry Gerald McAuliffe, of Wellington
Bernard Campbell Pepper, of Wellington

as Protection Officers for the purposes of the Submarine Cables and Pipelines Protection Act 1996.

This notice comes into effect on and from 15 October 2004.

Dated at Wellington this 8th day of October 2004.

RUSSELL KILVINGTON, Director of Maritime Safety.

This notice amends the one published in the New Zealand Gazette, 14 October 2004, page 3261, to replace "Helipro Aviation Training Limited" with "HELiPRO".
au6930

Securities Commission

Securities Markets Act 1988

The Authorised Futures Dealers Notice (No. 4) 2004

Pursuant to section 38 of the Securities Markets Act 1988, the Securities Commission gives the following notice.

Notice

1. Title, commencement and expiry—(1) This notice is the Authorised Futures Dealers Notice (No. 4) 2004.

(2) This notice comes into force on the day after the date of its publication in the New Zealand Gazette.

(3) This notice expires on the close of 31 October 2009.