3350 NEW ZEALAND GAZETTE No. 136

Contents

1. Interpretation.........................................................................................................3353
   1.1 Definitions.......................................................................................................3353
   1.2 Construction.....................................................................................................3354

2. Compliance and amendment.........................................................................3356
   2.1 Subject to legislation.................................................................................3356
   2.2 Compliance.......................................................................................................3356
   2.3 ARTA controlled organisations.........................................................3356
   2.4 Policies of ARTA.........................................................................................3356
   2.5 Effective date...............................................................................................3356
   2.6 Amendment..................................................................................................3357
   2.7 ARC as Sole Shareholder.....................................................................3357

3. Restricted transactions..................................................................................3357
   3.1 Restricted transactions..............................................................................3357
   3.2 General exclusion.......................................................................................3357

4. Appointment and removal of directors....................................................3357
   4.1 Number.............................................................................................................3357
   4.2 Appointment...................................................................................................3357
   4.3 Validity of appointment..........................................................................3357
   4.4 Persons disqualified as directors...........................................................3357
   4.5 Requirement before appointment...........................................................3358
   4.6 Rotation...........................................................................................................3358
   4.7 Removal.........................................................................................................3359
   4.8 Vacation of office......................................................................................3359
   4.9 Resignation of directors.........................................................................3359
   4.10 No compensation for loss of office.....................................................3359
   4.11 No alternate directors..............................................................................3359

5. Delegation of powers......................................................................................3359
   5.1 General authority.......................................................................................3359
   5.2 Restrictions...................................................................................................3360
   5.3 Delegates......................................................................................................3360
   5.4 Effect...............................................................................................................3360
   5.5 Revocation...................................................................................................3360
   5.6 Disclosure of interest..............................................................................3360

6. Directors’ duties...............................................................................................3361
   6.1 Accountability...........................................................................................3361
   6.2 Collective duties of the board...............................................................3361
   6.3 Individual duties of directors.................................................................3361
   6.4 Reliance on information and advice......................................................3361

7. Proceedings of the board..............................................................................3362