New Zealand Gazette – 2004 – No. 135

Page 3333

✨ Governance Rules



22 OCTOBER 2004
NEW ZEALAND GAZETTE, No. 135

2.4 Effective date
These Rules take effect on and from the date on which these Rules are notified in the Gazette in accordance with section 23(4) of the Act.

2.5 Policies of ARH
The Board will not approve (or give effect to) any policy of ARH which is likely to result in a material adverse effect on:

(a) the ARC’s financial position or performance; or

(b) the ARC’s ability to perform its responsibilities, functions or powers,

unless and until such policy has been approved by the ARC.

2.6 Amendment
These Rules may be amended by the ARC by council resolution. The ARC will consult with the Board prior to an amendment to these Rules. Any such amendment will take effect on and from the date such amendment is notified in the Gazette (or such later date as may be specified in such amendment).

  1. Restricted transactions

3.1 Restricted transaction
Subject to rule 3.2, the Directors will ensure that ARH does not (either itself or through an ARH Controlled Organisation), without the prior written approval of the ARC:

(a) enter into any transaction or series of linked or related transactions which constitutes a Material Transaction; or

(b) establish or dispose of an organisation.

3.2 General exclusion
The approval of the ARC under rule 3.1(a) is not required for any transaction or other activity:

(a) authorised under the Long Term Funding Plan; or

(b) undertaken by Ports of Auckland Limited.

3.3 Ports of Auckland
Without limiting ARH’s obligations under section 28 of the Act, before the Board proposes any sale or other disposition of the ownership or control of any shares held by ARH in Ports of Auckland Limited, the Board will:

(a) notify the ARC of its intention to propose such sale or disposition;

(b) consult with the ARC in relation to the matters set out in section 28 of the Act and have due regard to the views of the ARC in relation to those matters; and



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 135


Gazette.govt.nz — PDF NZ Gazette 2004, No 135




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