James,
According to AS/NZS 3000 this sort of a transformer set-up would not comply.
4.5.5: Step-up Transformers:
Where a transformer is used to raise the voltage above that at which electricity is supplied at the point of supply, no connection, other than that made by an earthing conductor, shall be made between the primary and secondary windings
Also bear in mind that connecting a device like this up, is Prescribed Electrical work (NZ Elec. Reg 17) and would need to be tested and certified before connection to a supply.
[This message has been edited by Trumpy (edited 08-06-2005).]
