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New Zealand Gazette – 1996 – No. 174

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✨ Electricity Corporation Financial Statements

4592
NEW ZEALAND GAZETTE
No. 174

ELECTRICITY CORPORATION OF NEW ZEALAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS

EQUITY

CAPITAL

Issued and Paid up capital
1,000,000,000 Ordinary Shares

ORDINARY SHARES

All issued ordinary shares in ECNZ are owned by the Crown. Holders of ordinary shares have the following rights:
a) The right to receive notice of and attend and vote at a meeting of the shareholders of the Company on any resolution. Each holder of a share will have one vote.
b) The right to an equal share in dividends on a per share basis.
c) The right to an equal share in the distribution of surplus assets on a per share basis.

IMPUTATION CREDIT ACCOUNT

Opening Balance
Plus:
Income Tax Paid
Imputation Credit Attached to Dividends Received
Other Credits
Closing Balance

CAPITAL COMMITMENTS

Commitments in respect of Contracts for Capital Expenditure

LEASE COMMITMENTS

Operating Lease Commitments are payable as follows:
Within One Year
One to Two Years
Two to Five Years
Later than Five Years
Total

The operating leases are of a rental nature and are on normal commercial terms and conditions. The majority of the lease commitments are for building accommodation. The remainder relate to small plant and equipment.

CONTRIBUTIONS TO RETIREMENT SAVINGS PLAN

Contributions are made into ECNZ’s Retirement Savings Plan in respect of ECNZ employees who are members of the Plan. ECNZ contributes a maximum of 10% of the relevant employee’s basic salary. These contributions are charged against profit.

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VUW Te Waharoa — NZ Gazette 1996, No 174

NZLII — NZ Gazette 1996, No 174

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✨ LLM interpretation of page content

🏭 Electricity Corporation Financial Position (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Equity, Capital, Ordinary Shares, Imputation Credit Account, Capital Commitments, Lease Commitments, Retirement Savings Plan

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