New Zealand Gazette – 2005 – No. 185

Page 4683

✨ Rules of Auckland Regional Holdings



7 NOVEMBER 2005 NEW ZEALAND GAZETTE, No. 185 4683

7.4 Reliance on Information & Advice

In performing his or her duties, a Director may rely on reports, statements, financial data, and other information prepared or supplied, and on professional or expert advice given, by any of the following persons:

(a) an employee of the ARC Group whom the Director believes on reasonable grounds to be reliable and competent in relation to the matters concerned;

(b) a professional adviser or expert in relation to matters that the Director believes on reasonable grounds to be within the person’s professional or expert competence;

(c) any other Director or a committee of the Board on which the Director did not serve in relation to matters within the Director’s or committee’s designated authority.

This rule 7.4 only applies to a Director if the Director:

(a) acts in good faith; and

(b) makes proper inquiry if the need for inquiry is indicated by the circumstances; and

(c) has no knowledge that the reliance is unwarranted.

7.5 Collaboration & Co-operation

In order to assist collaboration and co-operation by ARH with the ARC, the Board will:

(a) consult with the ARC regarding the following matters prior to:

(i) any appointment or removal of a director of an ARH Controlled Organisation; and

(ii)    any approval of, or making any significant modification to, a statement of intent of an ARH Controlled Organisation (including any statement of corporate intent of POAL or its subsidiaries);

(b) notify the ARC Chief Executive of any proposed transaction subject to rule 3.1 as early as practicable but not less than 14 days prior to the date of the proposed transaction;

(c) comply with any protocol agreed by the ARC and the Board regarding collaboration and co-operation by ARH with the ARC; and

(d) in accordance with section 19(2)(a) of the Act, collaborate and co-operate with the ARC and the Auckland Regional Transport Authority to achieve the overall objectives of the ARC that have been notified by the ARC to ARH.

Any such consultation must be undertaken in sufficient time to allow the ARC Chief Executive to report to members of the ARC and obtain any direction the ARC Chief Executive requires from the members regarding the ARC’s views on the matters subject to consultation. The Directors will provide to the ARC Chief Executive, a reasonable period before such consultation or notification regarding the relevant matter (being, in the case of any matter relating to a statement of intent or statement of corporate intent, at least 14 days), sufficient information to allow the ARC Chief Executive to make an informed assessment of the relevant matter which is subject to consultation or notification.



Next Page →



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, Long Term Funding Plan, Delegation of Powers, Reliance on Information, Collaboration & Co-operation