782 NEW ZEALAND GAZETTE No. 33

1988 $ (000) 1987 $ (000)

Brought forward ... 4,701,223 1,310

Import Licence Premiums
The receipts are in respect of import licence allocations offered by way of tender to interested parties. ... 22,092 54,264

Land Corporation Ltd.
The Crown advanced $271,417,215 to Land Corporation Ltd. in consideration for the issue by Land Corporation Ltd. of ordinary and preference shares totalling $201,900,000 and of a loan advance of $69,517,215. Sale of assets to Land Corporation Ltd. realised $271,517,215 of which $255,444,168 was applied against liabilities outstanding to the Crown and the balance of $16,073,047 was recorded as a Consolidated Account receipt. These amounts differ to those shown in the September Quarterly Public Accounts due to $6,607,727 received prior to the signing of the sale and purchase agreement, being allocated as a special receipt. ... 16,073

Ministry of Energy: Electricity Division ... 7,876

Motor Spirits Industry Account
The Motor Spirits Licensing Authority was abolished on 9 May 1988. The balance standing to the credit of the Motor Spirits Industry Account has been transferred to the Consolidated Account as a special receipt. ... 335

National Provident Fund ... 15,308

New Zealand Forestry Corporation Ltd.
The receipt into the Consolidated Account is due to a trading surplus from the Crown’s forestry assets. ... 40,000

New Zealand Post Ltd.
The Crown has advanced to New Zealand Post Ltd. $173,000,000, $53,000,000 being a loan advance and $120,000,000 being equity capital. The Crown has received from New Zealand Post Ltd. $173,000,000 in respect of assets relating to the postal function of the former Post Office, and a further $7,955,000 in settlement of the balance of current assets less current liabilities as at 31 March 1988 which were not included in the sale and purchase agreement. The moneys have been recorded as a receipt in the Consolidated Account. ... 180,955

New Zealand Post Office ... 21,800

New Zealand Refining Company Ltd.
The receipt is a reimbursement from the New Zealand Refining Company Ltd. for major project debt costs met by the Crown. ... 12,123 3,211

New Zealand Superannuation Corporation ... 2,509

Notional tax payments
The receipts are payments to the Consolidated Account in lieu of Income Tax from the following:
Revolving Funds—
Government Computing Service Fund $1,900
Government Printing Office Fund $2,800 ... 4,700 6,500

Phosphate Commission ... 91

Revolving Funds
Government Computing Service Fund
The Government Computing Service Fund has now been disestablished and Government Computing Services Ltd. has been formed as a state-owned enterprise. After making a notional tax payment (see preceding subnote) and declaring a dividend (see Note 5), the moneys remaining in the Trust Account were transferred to the Consolidated Account. ... 21,705

Sales of surplus Crown Land Properties
The payments are from the Housing Corporation of New Zealand and are in respect to the sale of surplus houses previously owned by New Zealand Post Ltd. and the New Zealand Forest Service. ... 1,676

Works and Development Services Corporation Ltd.
A part payment in respect of moneys collected under licence from debtors of the former Ministry of Works and Development has been received from the Works and Development Services Corporation (NZ) Ltd. This has been recorded as a receipt to the Consolidated Account. ... 42,000

                                                                              $5,042,882                              $112,369