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NEW ZEALAND GAZETTE, No. 196

24 NOVEMBER 2005

(iii) which are audited or reviewed, and reported
on, in accordance with the Regulations and the
Financial Reporting Act 1993.
(f) the company has current agreed upon procedures
engagement terms.
(g) the company has appointed a compliance reporter.
(h) copies of the current agreed upon procedures
engagement terms, the company’s compliance manual
and any amendments to these documents have been
deposited with the Securities Commission.
(i) the company’s financial statements are prepared and
registered on the basis that the company is an issuer
in terms of the Financial Reporting Act 1993 and are
audited at least once a year by a qualified auditor
under the Financial Reporting Act 1993.
(j) the agreed upon procedures engagement terms
provide for (without limitation):
(i) the client money, funds and property records in
respect of futures contracts to be reviewed and
reported on by the compliance reporter at least
once a year;
(ii) the review of, and reporting on, the dealing
practices and systems of the company
against the practices and procedures set out
in the company’s compliance manual by
the compliance reporter (including on-site
inspections of the company’s records and
procedures), such review and reporting to be
undertaken at least once in every six months;
(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 23rd day of November 2005.

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

[L.S.]

C. A. N. BEYER, Member.

au7891

Land Notices

Public Works Act 1981

Declaring Leasehold Estate and Land to be
Acquired for Water Power Development—
Makarora–Lake Hawea Road (State Highway
No. 6), Central Otago District

Pursuant to the Public Works Act 1981, and to a delegation
from the Minister for Land Information, Margaret Anne
Kennedy, Land Information New Zealand:

(a) Pursuant to sections 20 (1) and 28, declares that, an
agreement to that effect having been entered into, the
leasehold estate in the land described in the Schedule hereto
held by Glen Dene Limited under and by virtue of pastoral
lease p136, registered as Computer Interest Register
OT386/19 (Otago Registry), is hereby acquired for water
power development and shall vest in the Crown effective
from 29 June 2004.

(b) Pursuant to section 52, the land described in the
Schedule hereto be set apart for water power development,
effective from 29 June 2004, and to remain vested in the
Crown.

Otago Land District—Central Otago District

Schedule

Dated at Wellington this 18th day of October 2005.

M. A. KENNEDY, for the Minister for Land Information.

(LINZ CPL/2004/11/12471)

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