7 SEPTEMBER 2006

NEW ZEALAND GAZETTE, No. 105

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

(a) that none of the approved persons nor any of its members, directors, officers or employees:

(i) is 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.

Clause 5—This notice revokes the notice of approval of the approved persons to act as statutory supervisor and as a trustee published in the New Zealand Gazette, 5 August 2004, No. 95, page 2375.

Dated at Wellington this 31st day of August 2006.

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

[L.S.]

JANE DIPLOCK, Chairperson.

Transit New Zealand

Land Transport Rule: Setting of Speed Limits 2003 (Rule 54001)

Transit New Zealand Act 1989

Amendments to Transit New Zealand Bylaw 2005/7*

Maximum Speeds of Vehicles on State Highways

Pursuant to section 61 (3) of the Transit New Zealand Act 1989 and clause 2.6 of the Land Transport Rule: Setting of Speed Limits 2003 (Rule 54001), Transit New Zealand hereby amends the following Bylaw.

Amendments

1. These amendments shall come into force 28 days after its publication in the New Zealand Gazette.

2. The Transit New Zealand (Maximum Speeds of Vehicles on State Highways) Bylaw 2005/7* is hereby amended by:

(a) Deleting line 146 in Schedule 3 of that bylaw which reads:

“Transit NZ Region: 3

SH No.: 2

Locality: Netherton

From (RP): 61/2.23 To (RP): 61/3.17

Distance from nearest Road/Feature: 36 chains/720m north of Netherton School to 4 chains/80m south of Netherton School.

Speed Restriction (km/h): LSZ

New Zealand Gazette Reference: 27/03/1958, No 20, p 31”

(b) Replacing line 211 in Schedule 3 of that bylaw to read:

“Transit NZ Region: 3

SH No.: 26

Locality: Paeroa

From (RP): 60/7.12 To (RP): 60/8.10

Distance from nearest Road/Feature: 100m south-west of Ryall Road to 490m south-west of Rotokohu Road.

Speed Restriction (km/h): 80

New Zealand Gazette Reference: 7/09/2006, No. 105, p 3093”

These bylaw amendments as made by resolution passed at a meeting of Transit New Zealand held in Wellington 2 August 2006.

Signed on behalf of Transit New Zealand under delegated authority by:

[L.S.]

J. H. VAN BARNEVELD, Chief Executive, Transit New Zealand

JANE DIPLOCK, Chairperson.

*Supplement to New Zealand Gazette, 28 September 2005, No. 164, page 4075

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