14 December 2006

John Holland appointed to Securities Commission

Commerce Minister Lianne Dalziel today announced the appointment of John Holland, a partner of Chapman Tripp based in Christchurch, as a member of the Securities Commission for a five-year term commencing on 1 January 2007.

Mr Holland is a corporate and commercial law specialist with particular interest in securities. He has been a commercial partner in Chapman Tripp since the establishment of its Christchurch office in November 1997. Prior to that he was a commercial partner in another national law firm. His current practice involves advising many leading South Island corporates on corporate governance and securities law issues. He has previous governance experience as a board member of Chapman Tripp, a director of Kathmandu Group Limited, and chair of a securitisation company.

Mr Holland replaces Lloyd Kavanagh, who will resign from the Commission on 31 December 2006 as he is currently based in New York. The range of experience and understanding of corporate governance and the securities markets brought by Mr Kavanagh was of considerable benefit to the Commission, and his contribution had been greatly appreciated, Lianne Dalziel said.

Background to Appointment to the Commission

The Commission, which is established under the Securities Act, is an independent Crown entity. The Commission is New Zealand’s main regulator of investments. Its role is to strengthen investor confidence and foster capital investment in New Zealand by promoting the efficiency, integrity and cost-effective regulation of our securities markets.

The Governor-General, on the recommendation of the Minister, appoints the ten members of the Commission. When considering appointments, the Act requires the responsible Minister to recommend candidates who have knowledge of, or experience in, industry, commerce, economics, law, accountancy, public administration, or securities.

For further information on the Securities Commission, see www.sec-com.govt.nz

ENDS

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