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NEW ZEALAND GAZETTE, No. 149

(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 of its directors or senior
management, 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.
4. Further condition relating to on-exchange dealing in
futures contracts—The authorisation is also subject to the
condition, in respect of any futures contract that is made
on or effected through a recognised exchange, that any
acquisition or disposal of the contract is effected through
a person who is an authorised participant or member of the
recognised exchange and who is authorised or licensed by
the laws of the country in which it operates to deal in futures
contracts.

Dated at Wellington this 12th day of November 2004.
The Common Seal of the Securities Commission was
affixed in the presence of:
[L.S.]

JANE DIPLOCK, Chairperson.
au7641

The Authorised Futures Dealers Notice (No. 6) 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. 6) 2004.
   (2) This notice comes into force on the day after the date of
   its publication in the New Zealand Gazette.

18 NOVEMBER 2004

(3) This notice expires on the close of 30 November 2005.
2. Interpretation—(1) In this notice, unless the context
otherwise requires:
“Act” means the Securities Markets Act 1988.
“agreed upon procedures engagement terms” means
a written agreement, in terms of the Explanatory
Foreword to Reporting Engagement Standards and
Guidelines issued by the Institute of Chartered
Accountants of New Zealand, between the compliance
reporter and the company to perform specific
procedures with respect to the company’s compliance
with rules contained in the company’s compliance
manual.
“compliance reporter” means a qualified auditor who has
entered into agreed upon procedures engagement
terms with the company.
“qualified auditor” has the same meaning as in section
2C of the Securities Act 1978.
“recognised exchange” means an authorised futures
exchange or any exchange in a country other than
New Zealand which is authorised by the laws of that
country to operate as a futures exchange.
“Regulations” means the Futures Industry (Client Funds)
Regulations 1990.
“specified futures contract” means a futures contract
other than one that is made on or effected through
a recognised exchange.
“the company” means Intercontinental Financial Services
Corporation Limited.
(2) Any term or expression that is defined in the Act or the
Regulations and used, but not defined, in this notice has
the same meaning as in the Act or the Regulations.
3. Authorisation—(1) The company is authorised to carry
on the business of dealing in specified futures contracts.
(2) The authorisation is subject to the conditions that:
(a) the company does not carry on the business
of dealing in specified futures contracts on behalf of
any person other than a person who has entered into
a written client services agreement with the
company, and then only in accordance with
the terms of that agreement.
(b) before the company carries on the business of
dealing in specified futures contracts on behalf
of any person, the company has provided that person
with copies of the following:
(i) A document that clearly describes, for the
prudent but non-expert investor, the risks
associated with trading in specified futures
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.