In 1999 a private organisation, the Chatham Islands Note Corporation, issued banknotes to celebrate the Chatham Islands being the first human-inhabited land to enter the third millennium. Banknotes such as these cannot be declared legal tender, and there is no obligation for anyone to accept the notes issued by the Chatham Island Note Corporation in any transaction. These notes were reported to have been accepted by merchants on the Chatham Islands, some of whom served as directors of the issuer. The Chatham Islands Note Corporation was initially based in Christchurch. The agent for providing the notes to the numismatic trade was Leon Morel, Fellow of the Royal Numismatic Society of New Zealand of Melbourne, Victoria. The corporation later shifted their base of operations to Waitangi. The face value of the notes was pegged at the same rate as the New Zealand dollar. They are unusual in that the first series included $3 and $15 dollar notes, while the second series includes an $8 note. Not legal tender The Reserve Bank of New Zealand clarified that these notes are not legal tender. The Reserve Bank Deputy Governor Murray Sherwin mentioned that "Whilst these Chatham Island dollars are a bit of fun,... if people want to use them to undertake transactions, that's fine too." The series Series I notes consist of $2, $3, $10 and $15 denominations, and exhibit a very strong influence from American currency designs. There were printed in late 1999, still in time for their release on January 1, 2000. They were printed on polymer Tyvek paper with the artwork by Timely Marketing & Promotions Limited, Christchurch and Dunedin, New Zealand. Tyvek is a plastic-type material, and the notes are dual-denominated—in cents as well as in dollars. The same-numbered sets which came out in cardboard folders, also bear a completely different hologram, as compared to the currency issue. There are three printings of this series Full sets of this series are now scarce. Series II notes, consisting of $3, $5, $8, $10 and $15 denominations, were printed some time during the year 2000 for release in 2001. They were printed on cotton-fibre paper by Chan Wanich Security Printing Company Limited, Thailand. The front of these notes is very similar to the Series I notes, apart from the dates and other details. Again, these notes are dual-denominated in cents and dollars. There are also three printings of this series with