24 APRIL 2008

NEW ZEALAND GAZETTE, No. 76

Calder Farming Co Limited

● Calder Farming Co Limited, having its registered office
at Mackay Bailey Butchard Limited, 4/262 Oxford
Terrace, Christchurch, on 1 December 2005 for the right
to take one head of water from Woolshed Creek as a
fourth priority right from the Dunstan Creek catchment
otherwise known as Water Race Licence WR1434N.

JIM ANDERTON, Minister of Agriculture.
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Crown Law Office

Crown Solicitors Regulations 1994

Appointment of Crown Solicitor

His Excellency the Governor-General of New Zealand has
been pleased to appoint

Lance Clifford Rowe, solicitor of Wanganui

to be Crown Solicitor at Wanganui, to take effect on
1 May 2008.

Dated at Wellington this 11th day of April 2008.

HON DR MICHAEL CULLEN, Attorney-General.
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Economic Development

Financial Reporting Act 1993

Financial Reporting Act (The Bank of Tokyo - Mitsubishi Ufj, Ltd.) Exemption Notice 2008

Pursuant to section 35B of the Financial Reporting Act 1993
("the Act"), the Registrar of Companies gives the following
notice (to which is appended a statement of reasons of the
Registrar).

Notice

1. Title—This is the Financial Reporting Act (The Bank of
   Tokyo - Mitsubishi Ufj, Ltd.) Exemption Notice 2008.

2. Commencement—This notice comes into force on its
   notification in the New Zealand Gazette.

3. Expiry—This notice expires on the close of 31 July 2012.

4. Application—An exemption granted by this notice
   applies to the following accounting periods of the exempt
   overseas company:

(a) An accounting period of the exempt overseas
company that commenced before the exemption
is granted (including an accounting period that
ended before the exemption is granted) if:

(i) in the case of copies of financial statements
or group financial statements for that period
that are required to be delivered for registration
under section 19 of the Act, the exemption is
granted before those documents are required to
be delivered for registration under that section;

or

(ii) in any other case, the exemption is granted
before the financial statements or group financial
statements for that period are required to be
completed; and

(b) subsequent accounting periods.

5. Interpretation—In this notice, unless the context
   otherwise requires:

Act means the Financial Reporting Act 1993.

exempt overseas company means The Bank of
Tokyo - Mitsubishi Ufj, Ltd.

specified financial statements, in relation to the exempt
overseas company, means the group financial
statements that are required to be prepared in respect
of the exempt overseas company in accordance with
the laws of Japan.

US GAAP means generally accepted accounting
principles in the United States of America.

6. Exemptions for directors of exempt overseas
   companies—(1) Every director of an exempt overseas
   company is exempted from the following provisions in
   respect of the exempt overseas company:

(a) Sections 10(1) and 11 of the Act to the extent that
these sections require stand-alone overseas company
financial statements to be prepared in accordance
with New Zealand generally accepted accounting
practice;

(b) section 13 of the Act to the extent that it requires
group financial statements to be prepared in relation
to the exempt overseas company to comply with
section 14 of the Act; and

(c) section 19(3) of the Act to the extent that it requires
copies of the financial statements of the exempt
overseas company, together with a copy of the
auditor’s report on those statements, to be delivered
to the Registrar for registration.

(2) Subclauses (1)(a) and (c) do not apply in relation to the
New Zealand branch accounts that are required to be prepared
in relation to the group’s New Zealand business prepared in
accordance with New Zealand generally accepted
accounting practice as if the members of the group were
companies formed and registered in New Zealand.

(3) Subclause (1)(c) does not apply in relation to the group
financial statements that are required to be prepared in
relation to the exempt overseas company under section 13 of
the Act.

7. Conditions—The exemptions in clause 6 are subject to
   the conditions that:

(a) the specified financial statements of the exempt
overseas company comply with US GAAP;

(b) if, in complying with US GAAP, the specified
financial statements do not give a true and fair view
of the matters to which they relate, the directors of
the exempt overseas issuer add information and
explanations that will give a true and fair view of
those matters; and

(c) the specified financial statements are accompanied
by a report by an approved auditor that complies
with the requirements of Part 210 of the Code of
Federal Regulations (United States of America).

Dated at Wellington this 21st day of April 2008.

Statement of Reasons

This notice, which comes into force on its notification in the
New Zealand Gazette and expires on 30 July 2012, exempts
the directors of The Bank of Tokyo - Mitsubishi Ufj, Ltd.,
a company that was incorporated in Japan, from various
provisions of the Financial Reporting Act 1993 ("the Act").

The effect of the exemptions is to allow The Bank of
Tokyo - Mitsubishi Ufj, Ltd. to provide the group
financial statements that it is required to prepare
under financial reporting requirements in Japan.

The principal differences in financial statements provided
by overseas companies relying on the exemptions are:

● the directors of the overseas company will prepare
and register financial statements for the New Zealand