Financial Statements




29 NOVEMBER THE NEW ZEALAND GAZETTE 5443

4. Interest on Capital Liabilities and Investments

Under section 89 of the Public Finance Act 1977, any money advanced from the Public Account to a government agency constitutes a capital liability of that agency upon which interest is paid at a rate or rates as determined by the Minister of Finance. This table accordingly discloses the moneys received by way of interest. Interest received on Public Account investments and on other loans is also disclosed in the table.

1985 1984
$(000) $(000)
On capital liability—
Air New Zealand Ltd. 385
Development Finance Corporation of New Zealand 192 2
Energy: Electricity 179,713 122,721
Energy: Mines 26,875 12,516
Housing 57,932 34,119
Housing Corporation of New Zealand 144,501 80,396
Maori Affairs 20,466 19,261
Natural Gas Corporation of New Zealand Ltd. 2,670
New Zealand Railways Corporation 1,767 2,556
Post Office 46,300 15,066
Revolving funds
Government Printing Office 989
Rural Banking and Finance Corporation of New Zealand 149,535 94,934
Tourist Hotel Corporation of New Zealand 1,299
629,954 384,241

| On other public money— |
| New Zealand's investment in— |
| Winstone-Samsung Industries Ltd. | 511 | 712 |

| Investments made in respect of the— | | |
| Trust Account | 167 | 167 |
| Loans Account | 2,778 | 1,272 |
| Loans Redemption Account | 26,709 | 29,498 |

| On advances to— | | |
| New Zealand Steel Ltd. | 4,029 | 505 |
| New Zealand Steel Development Ltd. | 6,436 | |
| Petroleum Corporation of New Zealand Ltd. | 16,167 | |
| Loans and advances to hospitals, local authorities, etc. | 302 | 302 |
| Loans to local authorities for harbour projects (IBRD loans) | 90 | 116 |
| | 57,189 | 32,572 |
| | $687,143 | $416,813 |

5. Dividends

The following amounts were received by way of dividends during the six months:

1985 1984
Air New Zealand Ltd. 53,000 8,000
Bank of New Zealand 10,000
Petroleum Corporation of New Zealand Ltd. 14,000
Winstone-Samsung Industries Ltd. 3,931
$63,000 $25,931

6. Profits

The following profits were received during the six months:

1985 1984
Housing Corporation of New Zealand 9,759
Reserve Bank of New Zealand 79,821 45,146
$89,580 $45,146


Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa PDF NZ Gazette 1985, No 221


NZLII PDF NZ Gazette 1985, No 221





✨ LLM interpretation of page content

💰 Interest on Capital Liabilities and Investments

💰 Finance & Revenue
Interest, Capital Liabilities, Investments, Public Finance Act 1977, Government Agencies

💰 Dividends Received

💰 Finance & Revenue
Dividends, Government Investments, Financial Performance

💰 Profits Received

💰 Finance & Revenue
Profits, Government Entities, Financial Performance