5 AUGUST 2004

NEW ZEALAND GAZETTE, No. 95

(ii) at any time holds any office or appointment
(including appointment as an auditor) or has
any involvement, relationship, interest in
respect of any of Anglican Methodist
Church South Canterbury Trust, Karadean
Developments Limited, Social Service Council
of the Diocese of Christchurch and Windsor
House Cottage Trust, or any manager of any
scheme offered by any of the above, otherwise
than in connection with the performance of
John Huntsbry Midgley’s functions and powers
as a statutory supervisor;

(iii) at any time controls or has the right to control,
any of Anglican Methodist Church South
Canterbury Trust, Karadean Developments
Limited, Social Service Council of the Diocese
of Christchurch and Windsor House Cottage
Trust, or any manager of any scheme offered by
any of the above, otherwise than in connection
with the performance of John Huntsbry
Midgley’s functions and powers as a statutory
supervisor;

(iv) at any time holds any participatory securities of
any of Anglican Methodist Church South
Canterbury Trust, Karadean Developments
Limited, Social Service Council of the Diocese
of Christchurch and Windsor House Cottage
Trust, or any manager of any scheme offered by
any of the above;

(b) that no relationship exists at any time between John
Huntsbry Midgley and Anglican Methodist Church
South Canterbury Trust; Karadean Developments
Limited; Social Service Council of the Diocese of
Christchurch; and Windsor House Cottage Trust, or
any manager of any scheme offered by any of the
above, that affects, or is likely to affect, his
performance as a statutory supervisor;

(c) that while John Huntsbry Midgley holds office as a
statutory supervisor he will maintain adequate
professional indemnity insurance in respect of the
exercise of the functions and powers of a statutory
supervisor;

(d) that John Huntsbry Midgley has undertaken, and
abides by that undertaking, to report to the
Commission on any occurrence or change in
matters material to the Commission’s approval of
him; and in any event, on an annual basis to the
Commission by 1 March of each calendar year for
the duration of his approval.

Dated at Wellington this 29th day of July 2004.

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

[L.S.]

FALCON CLOUSTON, Member.

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Notice of Approvals to Act as a Statutory Supervisor and as a Trustee Under Section 48 of the Securities Act 1978

Pursuant to section 48 (3) of the Securities Act 1978, the Securities Commission gives the following notice.

Notice

1. The Securities Commission approves the following to act as statutory supervisors and trustees for the purposes of the Securities Act 1978 in respect of participatory and debt securities offered to the public for subscription:

● BDO Spicers Auckland Trustee Company Limited;
● Covenant Trustee Company Limited;
● Prince & Partners Trustee Company Limited;
● Spicer & Oppenheim Trustee Company Limited.

(“approved persons”)

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

3. This notice expires on the close of 6 August 2009.

4. The approvals in respect of each approved person are given subject to the following conditions:

(a) That the approved person or any member, director, officer or employee of that approved person:

(i) is not at any time a shareholder or employee of an issuer or manager of a scheme in respect of which the approved person is appointed as a trustee or statutory supervisor;

(ii) at any time holds any office or appointment (including appointment as an auditor) or has any involvement, relationship, interest (otherwise than in connection with the performance of the approved person’s functions and powers as a trustee or statutory supervisor) in respect of the issuer or manager of any scheme in relation to which the approved person is appointed as a trustee or acts as a statutory supervisor;

(iii) at any time controls or has the right to control, directly or indirectly, the management of any issuer or any manager of any scheme in respect of which the approved person is appointed as a trustee or statutory supervisor (otherwise than in connection with the performance of the approved person’s functions and powers as a trustee or statutory supervisor);

(iv) at any time holds any debt or participatory securities of any issuer or any manager of a scheme in respect of which the approved person is appointed as a trustee or a statutory supervisor;

(b) that no relationship exists at any time between an approved person and any issuer or any manager of any scheme in respect of which that approved person is appointed as a trustee or statutory supervisor, that affects, or is likely to affect, the ability of the approved person to perform its functions and powers as a trustee or statutory supervisor;

(c) that while an approved person holds office as a statutory supervisor, that approved person will maintain adequate professional indemnity insurance in respect of the exercise of its functions and powers under its appointments as a trustee and/or statutory supervisor;

(d) that an approved person has undertaken, and abides by that undertaking, to report to the Commission on any occurrence or change in matters material to the Commission’s approval of that approved person; and in any event, on an annual basis to the Commission by 1 March of each calendar year for the duration of that approved person’s approval.

Dated at Wellington this 29th day of July 2004.

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

[L.S.]

FALCON CLOUSTON, Member.

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