3302 NEW ZEALAND GAZETTE, No. 124 23 SEPTEMBER 2010

This instrument amending Ministerial directions and welfare programmes, which comes into effect on the day that it is signed, excludes certain payments from a person’s cash assets, which are considered in determining his or her eligibility to the types of social security assistance specified in this instrument.

The exclusion is for payments made in relation to the effects of the Canterbury earthquake from the fund created by donations made to the Canterbury Earthquake Appeal of the New Zealand Red Cross Incorporated and is limited to 12 months from the date of payment.

The instrument also updates certain legislative references in two welfare programmes.

1. New Zealand Gazette, 24 June 1999, No. 75, page 1687
2. New Zealand Gazette, 16 December 1999, No. 193, page 4600
3. New Zealand Gazette, 29 January 1998, No. 14, page 349
4. New Zealand Gazette, 13 May 2004, No. 52, page 1290
5. New Zealand Gazette, 25 February 1999, No. 23, page 567
6. New Zealand Gazette, 28 January 1999, No. 8, page 202
7. New Zealand Gazette, 1 August 2002, No. 90, page 2435

The Treasury

Earthquake Commission Act 1993

Ministerial Direction to the Earthquake Commission

Pursuant to section 12 of the Earthquake Commission Act 1993:

1. This direction comes into effect on 15 September 2010.

2. As of 15 September 2010, clause 2 of the direction dated the 30th day of October 2001* is revoked and replaced with the following:

“(ii) The Earthquake Commission (“the Commission”) shall invest the Natural Disaster Fund (“the Fund”) in:

(a) New Zealand Government securities comprising Treasury bills and/or Government stock and/or Inflation-Indexed Bonds tradeable only through the New Zealand Debt Management Office;

(b) global equities; and

(c) New Zealand bank securities, including New Zealand bank bills and deposits, held only in banks which are registered under the Reserve Bank of New Zealand Act 1989 and which have a short term credit rating of A–1 or higher; Prime 1 or higher; and if rated by both Moody’s and Standard and Poors, ratings from both which equal or exceed the foregoing ratings. Funds invested in New Zealand bank securities shall be held across a number of banks.”

3. As of 15 September 2010, clause 9 of the direction dated the 30th day of October 2001 is revoked and replaced with the following:

“(ix) The Commission must consult with the Minister if it intends to modify the portfolio composition of the Fund from the following:

(a) New Zealand Government securities;

(b) up to a maximum of 35% of the market value of the Fund in global equities; and

(c) up to a maximum of $2,000 million of New Zealand bank securities.”

4. All other parts of the direction dated the 30th day of October 2001 are unchanged and remain in effect.

5. This direction is in effect from 15 September 2010 to 14 September 2011. As of 15 September 2011, this direction is revoked.

Dated this 14th day of September 2010.

HON SIMON WILLIAM ENGLISH, Minister of Finance.

*New Zealand Gazette, 15 November 2001, No. 155, page 3830

Authorities and Other Agencies of State Notices

Civil Aviation Authority of New Zealand

Civil Aviation Act 1990

Notification of Proposal to Make Ordinary Rules

In accordance with section 34(1)(a) of the Civil Aviation Act 1990, the Minister of Transport hereby gives notice of his intention to make the following ordinary Civil Aviation Rules:

CAR Part 115 — Adventure Aviation – Certification and Operations

The purpose of this rule-making proposal is to prescribe requirements for the certification and continuing operations of person conducting adventure aviation operations under the proposed new CAR Part 115.

CAR Part 115 will apply to operators wishing to carry passengers for hire or reward while performing the following adventure aviation activities:

• An A to A flight in an aeroplane or helicopter issued with a standard category airworthiness certificate conducting formation flight, aerobatic manoeuvres, and similar non-standard flight manoeuvres such as steep climbs, steep descents, and steep turns;
• an A to A flight (including an interim water landing for amphibious aircraft) in an aircraft issued with an appropriate special category airworthiness certificate;
• an A to A flight in a Class 2 microlight aircraft;
• a flight in a hot air balloon;
• a flight in a glider;
• a parachute-drop aircraft operation;
• a tandem parachute descent;
• a tandem hang glider/paraglider flight.

Consequential Amendments

Parts 1, 12, 43, 61, 91, 101, 103 and 105

NPRM 10-02. CAA Docket 5/CAR/1