12 JULY 2012 NEW ZEALAND GAZETTE, No. 84 2289

5. How the Determination is publicly available

Copies of the Determination and the Reasons Papers are available for inspection free of charge at the Commission (during ordinary office hours), on the Commission’s website at www.comcom.govt.nz, or for purchase at a reasonable price at the Commission, 44 The Terrace, Wellington.

Dated at Wellington this 10th day of July 2012.

COMMERCE COMMISSION.

Explanatory Note

The Commerce Amendment Act 2008 introduced changes to the Commerce Act 1986 ("Act"), including a requirement for the Commerce Commission ("Commission") to determine up-front input methodologies that apply to regulated services, to the extent applicable to the type of regulation under consideration.

The purpose of input methodologies is to promote certainty for suppliers and consumers in relation to the rules, requirements, and processes applying to the regulation, or proposed regulation, of goods or services under Part 4 of the Act.

The purpose of Part 4, as set out in section 52A of the Act, is to promote the long-term benefit of consumers in markets where there is little or no competition and little or no likelihood of a substantial increase in competition, by promoting outcomes that are consistent with outcomes produced in competitive markets such that suppliers of regulated goods or services:

(a) have incentives to innovate and invest, including in replacement, upgraded, and new assets; and

(b) have incentives to improve efficiency and provide services at a quality that reflects consumer demands; and

(c) share with consumers the benefits of efficiency gains in the supply of the regulated goods or services, including through lower prices; and

(d) are limited in their ability to extract excessive profits.

In accordance with section 54S of the Act, the Commission determined an input methodology for Transpower’s capital expenditure proposals on 31 January 2012 (following an extended deadline granted by the Minister of Commerce pursuant to that section).

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Notification of Amendment to Input Methodologies for Related Party Asset Acquisitions

Pursuant to section 52W of the Commerce Act 1986, the Commerce Commission ("Commission") gives public notice that it has amended the input methodologies applying to suppliers of gas pipeline services and electricity distribution services.

The amendments provide additional methods for valuing assets acquired by suppliers from related parties for the purposes of information disclosure and customised price-quality path proposals.

The Commission considers that the amendments will provide greater flexibility to suppliers in organising and engaging in transactions with related parties, while continuing to promote outcomes consistent with workably competitive markets.

The specific amendments are set out in the Electricity and Gas Input Methodology Determination Amendments (No. 1) 2012.

A copy of the amendment determination and the accompanying reasons can be found on the Commission’s website

www.comcom.govt.nz

under input methodologies for electricity and gas pipelines.

Date of Decision: 29 June 2012.

COMMERCE COMMISSION.

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Financial Markets Authority

Securities Markets Act 1988

The Authorised Futures Dealers (Millennium Capital Management (New Zealand)) Notice 2012

Pursuant to section 38 of the Securities Markets Act 1988, the Financial Markets Authority (FMA) gives the following notice.

Notice

1. Title, commencement and expiry—(1) This notice is the Authorised Futures Dealers (Millennium Capital Management (New Zealand)) Notice 2012.

(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 December 2017.

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

Act means the Securities Markets Act 1988.

Company means Millennium Capital Management (New Zealand) (registered company number 3785476).

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

wholesale client means any client that is:

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

(b) 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

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

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

(e) 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

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

(g) a person whose principal business is the investment of money or who, in the course of and for the