NEW ZEALAND GAZETTE, No. 38 28 MARCH 2013

(iii) where a receiver, provisional liquidator, liquidator or a similar officer is appointed, or any resolution is passed or order made for the winding up or dissolution of the company;

(iv) any regulatory action taken against the company, or any of its directors or senior management, whether in New Zealand or elsewhere;

(v) if any director or member of the senior management leaves the company, or if any new director or member of senior management is appointed to the company;

(vi) where the company has failed to comply, or believes it will fail to comply, with the capital adequacy requirements set out in the company’s AFS Licence;

(vii) if any auditor’s report prepared in accordance with the company’s AFS Licence shows any non-compliance with the company’s AFS Licence, Corporations Act 2001 or any Regulations made under the Corporations Act 2001;

(viii) if there is any change to the shareholding, or ultimate beneficial ownership, of the company; and

(ix) if there is any material change to the nature of the business activities undertaken by the company;

(e) the company takes reasonable steps to ensure at all times that each director, employee or agent of the company understands, and may reasonably be expected to comply with, all laws and Regulations which are applicable to the company, including all requirements of this authorisation;

(f) the company takes reasonable steps to ensure at all times that each adviser who provides futures adviser services to a client:

(i) exercises the care, diligence and skill that a reasonable adviser would exercise in the same circumstances;

(ii) has the competence, knowledge and skills to provide futures adviser services to that client, and in respect of the relevant specified futures contract;

(iii) places the interests of the client first, and acts with integrity, in providing the futures adviser services;

(iv) ensures that a retail client has sufficient information, in a form which enables the retail client to understand that information, to make an informed decision about the futures adviser service and the specified futures contracts to which that futures adviser service relates;

(v) ensures that a retail client understands whether or not any advice given takes into account the personal circumstances of the retail client; and

(vi) does not act in any way, or make any omission, which would bring the financial services profession, or any part of it, into disrepute;

(g) the company must, within three months after the end of each financial year of the company that commences after this notice comes into force, give a report to FMA on the extent to which it has complied with its obligations under this notice in that financial year; and

(h) the company must promptly provide to FMA any information held by the company which is requested by FMA, for the purposes of any enquiry or investigation, or for the purposes of supervision of the company in connection with the company’s obligations under this notice.

Dated at Wellington this 20th day of March 2013.

ELAINE CAMPBELL, Head of Compliance Monitoring, Financial Markets Authority.

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Notice Under Section 48A of the Securities Markets Act 1988

Pursuant to section 48(1)(c) of the Securities Markets Act 1988, the Financial Markets Authority on 22 March 2013 granted the exemptions contained in the Securities Markets Act (Contact Energy Limited Small Holding Plan) Exemption Notice 2013.

Copies are available on the Financial Markets Authority’s website

www.fma.govt.nz

Copies are also available for purchase on request to the Financial Markets Authority, Level 2, 1 Grey Street, Wellington, or Level 5, Ernst & Young Building, 2 Takutai Square, Britomart, Auckland, or by post to PO Box 1179, Wellington 6140.

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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 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 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 at

www.rbnz.govt.nz/finstab/insurance/5199831.pdf

Dated this 22nd day of March 2013.

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

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