New Zealand Gazette – 2005 – No. 185

Page 4677

✨ Rules of Auckland Regional Holdings



7 NOVEMBER 2005
NEW ZEALAND GAZETTE, No. 185

“(l) “security interest” has the meaning given to that term in section 17 of the Personal Property Securities Act 1999.

In determining for the purposes of rule 3:

(a) the value of assets and liabilities, including contingent liabilities, the Directors:

(i) in relation to ARH’s assets and liabilities, must have regard to:

    (A) the most recent financial statements of ARH that comply with section 69 of the Local Government Act 2002; and

    (B) all other circumstances that the Directors know or ought to know affect, or may affect, the value of ARH’s assets and the value of ARH’s liabilities, including its contingent liabilities; and

(ii) may rely on valuations of assets or estimates of liabilities that are reasonable in the circumstances; and

(b) the value of a contingent liability, account may be taken of:

(i) the likelihood of the contingency occurring; and

(ii) any claim ARH is entitled to make and can reasonably expect to be met to reduce or extinguish the contingent liability.
  1. Compliance & Amendment

2.1 Subject to Legislation
These Rules are subject to the provisions of the Act and any other enactment. If there is any inconsistency between these Rules and the Act or any other enactment, the Act or that enactment (as the case may be) will take precedence over these Rules.

2.2 Compliance
Each Director will comply with:

(a) the Act, the Local Government Act 2002, the Local Government Official Information and Meetings Act 1987 and any other applicable law; and

(b) these Rules; and

(c) any policies or procedures of ARH approved by the Board.

2.3 ARH Controlled Organisations - Constitutions
The Directors will ensure that the constitution (if a company) or other constitutive document (if not a company) of any ARH Controlled Organisation (other than POAL and its subsidiaries) is consistent with these Rules.

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.

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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 185


Gazette.govt.nz — PDF NZ Gazette 2005, No 185




✨ LLM interpretation of page content

🏘️ Rules of Auckland Regional Holdings (continued from previous page)

🏘️ Provincial & Local Government
26 September 2005
Rules, Auckland Regional Holdings, Local Government, Definitions, Strategic Assets, Transactions