NEW ZEALAND GAZETTE

No. 126

2728

W. R. G. SIMEON, Controller, Road User Standards.

(File RUO4/7)

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Treasury

Public Finance Act 1989

Notice of Guarantee

The following statement is made pursuant to section 59 (2) of the Public Finance Act 1989.

In August 1991, the Minister of Finance on behalf of Her Majesty the Queen in right of New Zealand (called the “Crown”), gave a guarantee of all payments of the New Zealand Railways Corporation (the “Corporation”), under a Forward Payment Agreement dated 10 January 1986, between the Corporation and Banque Paribas.

The guarantee is being given as consideration for Banque Paribas agreeing to the restructuring of the Corporation pursuant to the New Zealand Railways Restructuring Act 1990.

Dated at Wellington this 16th day of August 1991.

RUTH RICHARDSON, Minister of Finance.

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Cash Flow Statement of the Crown Bank Account and Departmental Bank Accounts for the Month Ended 31 July 1991

This statement has been prepared, and is published, in accordance with section 32 of the Public Finance Act 1989. The information to prepare this statement has been obtained from the centralised cash management system operated by the Treasury. It therefore records cash flows through the bank accounts operated by Government departments and the Crown rather than cash flows through those organisations’ books of account. As this is the first year this statement is produced, comparative information cannot be provided.

Cash flows from Crown and departmental activities: $(000’s) $(000’s)

Cash was collected by departments for:

• Taxation receipts 2,442,906
• Profits and dividends 341,709
• Other receipts 87,064

Total receipts 2,871,679

Cash was disbursed to departments for:

• Departmental purposes 463,754
• Payments on behalf of the Crown 2,133,688

Total disbursements 2,602,442

Net cash flows from Crown and departmental activities 269,237

Cash flows from debt and cash management operations:

Cash was collected from:

• Sale of investments 25,178
• Repayment of investments 1,926,421
• Interest received 46,708
• Borrowing in New Zealand 3,343,212
• Borrowing from overseas 155,150

Total receipts 5,496,669

Cash was disbursed to:

• Purchase of investments 1,968,127
• Interest payments and costs 385,773
• Major projects refinancing 1,866
• Repayment of New Zealand loans 3,018,584
• Repayment of overseas loans 195,313

Total disbursements 5,569,663

Net cash flows from debt and cash management operations (72,994)

Net increase (decrease) in cash held:

• Net cash increase (decrease) 196,243
• Plus foreign exchange gain 4,110
• Plus opening cash position 754,147

Closing cash position $954,500

Dated at Wellington this 20th day of August 1991.

G. C. SCOTT, Secretary to the Treasury.

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Authorities and Other Agencies of State

Broadcasting Standards Authority

Broadcasting Act 1989

Broadcasting Standards Authority—Decision No. 37/91

Pursuant to section 15 of the Broadcasting Act 1989, notice is hereby given that the Broadcasting Standards Authority has made the following decision on a complaint referred to it for investigation and review.

In decision 37/91, the Authority upheld a complaint by Mr George Ngaei of Invercargill that the broadcast by Radio New Zealand Limited of news items on 30 May 1990 breached the responsibility placed on broadcasters to deal justly and fairly with any person referred to in any programme and that the broadcast of news items on the same date and on 22 and 23 June 1990 breached the responsibility placed on broadcasters to show balance, impartiality and fairness in dealing with all questions of a controversial nature and to make reasonable efforts to present significant points of view either in the same period or in other programmes within the period of current interest.

Copies of decisions may be purchased from the Broadcasting Standards Authority, P.O. Box 9213, Wellington at the price of $5.00 each or by annual subscription of $100.00.

Dated at Wellington this 16th day of August 1991.

G. POWELL, Executive Officer.

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