17 AUGUST 2006 NEW ZEALAND GAZETTE, No. 97 2875

exemption from the requirement to comply with Rule
11.5.2 of Section IV of Part C of the Electricity Governance
Rules 2003.

(2) The principal notice is confirmed.

3. Reasons for confirmation—The reason for this
   confirmation is to continue the removal of any disincentive
   on Transpower to offering:

(a) the HVDC runback capability; and

(b) the consequential increase in south transfer capability
through the BPE-HAY circuits.

Dated at Wellington this 11th day of August 2006.

For and on behalf of the Electricity Commission:

ROY HEMMINGWAY, Chair.

New Zealand Gazette, 27 April 2006, No. 38, page 1001

au5540

Reserve Bank of New Zealand

Reserve Bank of New Zealand Act 1989

Demonetisation of Cupronickel Coins

Pursuant to section 26 of the Reserve Bank of New Zealand
Act 1989, and with the consent of the Minister of Finance,
Dr Michael Cullen, the Reserve Bank (“the Bank”) calls in all
cupronickel 5, 10, 20 and 50 cent coins issued between 1967
and 2006, with effect from 1 November 2006.

In accordance with section 26 (3) of the Act, all the specified
coins will cease to be legal tender from 1 November 2006 but
the bank shall continue to be liable to pay any such coin on
presentation at the head office of the bank (No. 2 The
Terrace, Wellington).

Dated at Wellington this 15th day of August 2006.

BRIAN LANG, Head of Currency and Building Services,
Reserve Bank of New Zealand.

au5617

Securities Commission

Securities Markets Act 1988

The Authorised Futures Dealers Notice (No. 3) 2006

Pursuant to section 38 of the Securities Markets Act 1988,
the Securities Commission (“Commission”) gives the
following notice.

Notice

Clause 1: Title, Commencement and Expiry—(1) This
notice is the Authorised Futures Dealers Notice (No. 3)
2006.

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

(3) This notice expires on the close of 31 August 2011.

Clause 2: Interpretation—(1) In this notice, unless the
context otherwise requires:

"Act" means the Securities Markets Act 1988.

"company" means ICAP New Zealand Limited.

"recognised exchange" means an authorised futures
exchange or any exchange in a country other than
New Zealand which is authorised by the laws of that
country to operate as a futures exchange.

(2) Any term or expression that is defined in the Act and
used, but not defined, in this notice has the same meaning as
in the Act.

Clause 3: Authorisation—(1) The company is authorised
to carry on the business of dealing in futures contracts
generally.

(2) The authorisation applies only to dealing in futures
contracts that consists of advising or assisting a person
in connection with the acquisition or disposal of a futures
contract.

(3) The authorisation is subject to the conditions that:

(a) the company does not hold client money or client
property in connection with dealing in futures
contracts; and

(b) the company does not carry on the business of
dealing in futures contracts on behalf of any person
other than one who has entered into a written
contract for services with the company, and then
only in accordance with the terms of that contract;
and

(c) the company deals only on behalf of its wholesale
clients, being any client that is:

(i) a person who controls at least $10 million; or

(ii) a trustee of a trust or a funds manager, acting
in that capacity, who has under that person’s
control, as trustee or funds manager, net assets
of at least $10 million; or

(iii) a person who is authorised to carry on the
business of dealing in futures contracts under
the Act; or

(iv) a person authorised in another jurisdiction by
the competent authority of that jurisdiction
to deal in futures contracts; or

(v) Her Majesty the Queen in right of
New Zealand, a Crown entity named in
the Crown Entities Act 2004, or a State
enterprise named in the First or Second
Schedule to the State-Owned Enterprises
Act 1986 (each as amended from time to
time); or

(vi) a person who is a statutory corporation or a
registered bank; or

(vii) a person whose principal business is the
investment of money or who, in the course
of and for the purposes of their business,
habitually invests money; or

(viii) a person who is a related body corporate
of any of the persons mentioned in
subparagraphs (i) to (vii) above; and

(d) before dealing in any futures contract in respect of
which the authorisation applies, the company is
satisfied on reasonable grounds that the wholesale
client is contracting:

(i) as principal on its own account; or

(ii) on behalf of a related body corporate; or

(iii) as trustee of a trust or manager of a managed
fund; and

(e) the company provides the Commission with a copy
of the company’s audited financial statements no
later than three months after the end of each financial
year for the company; and

(f) the company notifies the Commission of any material
matter concerning the company’s authorisation as a
futures dealer, including any regulatory action taken
concerning the company, whether in New Zealand
or overseas.