3 NOVEMBER 2011 NEW ZEALAND GAZETTE, No. 168 4695

BIMUL
BORLU
BOSLA
BURKI
EKVIL
ESDAK
GIXER
GUNOM
KAKOM
KARVO
MAKOS
MELOK

A copy of this amendment is available for viewing at
www.caa.govt.nz (NZ Air Navigation Register)
and at Asteron Centre, Level 15, 55 Featherston Street,
Wellington 6011, or on application to the Aeronautical
Service Unit, CAA, PO Box 3555, Wellington 6140.

Dated at Wellington this 31st day of October 2011.

MICHAEL JOHN HAINES, Manager Aeronautical Services,
Civil Aviation Authority of New Zealand.

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Electricity Authority

Electricity Industry Act 2010

Notice of the Electricity Industry Participation

(Spot Price Risk Disclosure) Code
Amendment 2011

1. Pursuant to section 38(3)(b) of the Electricity Industry
   Act 2010, the Electricity Authority (“Authority”)
   gives notice of the making of the Electricity Industry
   Participation (Spot Price Risk Disclosure) Code
   Amendment 2011.

2. The amendment comes into force on 1 December 2011.

3. The amendment provides for the introduction of the
   Authority’s stress test regime proposal by amending
   Part 1 and Part 13 of the Electricity Industry
   Participation Code 2010 (“Code”). The amendment
   inserts a new subpart 5A of Part 13 that:

(a) requires each participant who consumes electricity
that is conveyed to the person directly from
the national grid or who buys electricity from the
clearing manager to:

(i) submit quarterly spot price risk disclosure
statements to an independent person appointed
by the Authority; and

(ii) certify on an annual basis that:

(A) the disclosing participant has provided
information to its customers with spot
price exposure to enable each customer
to consider the outcomes of applying the
stress tests; and

(B) the disclosing participant’s board has
considered the contents of the quarterly
spot price risk disclosure statements;

(b) provides for the Authority to prepare and publish
a notice setting out a base case, stress tests, and
methods for calculating a disclosing participant’s
target cover ratio;

(c) requires the Authority to appoint an independent
person to receive and analyse spot price risk
disclosure statements; and

(d) provides for independent audit of spot price risk
disclosure statements.

4. A copy of the amendment and the Code is available on
   the Electricity Authority’s website

www.ea.govt.nz/act-code-regs/code-regs/the-code/

5. A copy of the amendment and the Code may also
   be inspected free of charge or purchased from the
   Electricity Authority, Level 7, ASB Bank Tower,
   2 Hunter Street, Wellington.

Dated at Wellington this 31st day of October 2011.

DR THOMAS BRENT LAYTON, Chairperson, Electricity
Authority.

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Reserve Bank of New Zealand

Insurance (Prudential Supervision) Act 2010

Notice of Issue Under Section 55 of the Insurance

(Prudential Supervision) Act 2010 of Solvency
Standard for Captive Insurers Transacting Non-life
Insurance Business

This notice is given pursuant to section 55 of the Insurance
(Prudential Supervision) Act 2010.

Notice

1. Title and commencement—(1) This standard may be
   cited as the Solvency Standard for Captive Insurers
   Transacting Non-life Insurance Business (the “Standard”)
   and shall come into force the day after its notification in the
   New Zealand Gazette.

(2) The Standard has the status of a Regulation for the
purposes of the Regulations (Disallowance) Act 1989 and is
issued pursuant to section 55 of the Insurance (Prudential
Supervision) Act 2010.

2. Description—The Standard specifies the capital
   requirements for licensed captive insurers, methods for
   calculating and reporting solvency and related matters of a
   licensed captive insurer, and disclosure of solvency related
   information.

3. Availability—The Standard is available for inspection:

(a) at the head office of the Reserve Bank of
New Zealand, 2 The Terrace, Wellington; and

(b) on the Reserve Bank of New Zealand’s website

www.rbnz.govt.nz/finstab/insurance/4572642.pdf

Dated this 28th day of October 2011.

GRANT SPENCER, Deputy Governor, Reserve Bank of
New Zealand.

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