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New Zealand Gazette – 1995 – No. 139

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✨ Financial Statements Notes

4540 No. 139

NEW ZEALAND GAZETTE

TRANS POWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1995

RELATED PARTIES

On 1 July 1994 Trans Power was separated from ECNZ, and established under the State-Owned Enterprises Act 1986, as a separate State-Owned Enterprise. From this date, related party transactions have been entered into with other State Owned Enterprises. These are principally Broadcast Communications Limited (BCL, a subsidiary of Television New Zealand Limited), Works Consultancy Services Limited, the ECNZ Group, and the Crown. The ultimate shareholder of Trans Power is the Crown.

For the periods ended 30 June 1994 and prior, Trans Power was a 100% owned subsidiary of ECNZ. The ultimate shareholder of ECNZ is the Crown. During these periods Trans Power entered into certain transactions with related parties, namely ECNZ and its subsidiaries Power Securities Limited, Powermark New Zealand Limited and DesignPower New Zealand Limited.

During the period ended 30 June 1995 Powermark New Zealand Limited was sold, and therefore ceased to be a related party. Related party transactions have been disclosed up to the date of sale.

Transactions entered into with related parties are disclosed as follows:

Revenue income from ECNZ is disclosed in Note 3.
Expenses and financing costs paid to the ECNZ Group, BCL, Work Consultancy Services Limited, and the Crown are disclosed in Note 4 and Note 6.
Outstanding balances due from and to related parties are disclosed in Notes 9, 12 and 14.

Miss C.B. Durbin is a partner in the law firm Simpson Grierson. Other partners and staff of that firm have rendered various legal services to Trans Power in the ordinary course of business.

All related party transactions are conducted on a commercial basis. No related party debts have been written off or forgiven during the year.

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✨ LLM interpretation of page content

🏗️ Notes to the Financial Statements for Trans Power New Zealand Limited (continued from previous page)

Domain🏗️ Infrastructure & Public Works
KeywordsFinancial Statements, Related Parties, Transactions, Revenue, Expenses, Outstanding Balances, Legal Services, Commercial Basis, State-Owned Enterprises, ECNZ, Crown
👱🏽 Names

C.B. Durbin (Miss), Partner in law firm providing legal services

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