Ok I have re-read part 61 and before I slump into a coma I can summarise the following.
From 11 May 06 you have 3 years from the first ATP exam pass to finish all 7.
Any longer and you must sit all 7 again.
Pricks!
But..
Any ATP exams sat before that date remain valid untill 11 May 2011.
(This country (NZ) is a beauracratic nightmare)