New Zealand Gazette – 1999 – No. 115

Page 2762

✨ Financial Disclosures

2762 NEW ZEALAND GAZETTE No. 115

12.0 DISCONTINUED ACTIVITIES

United Electricity

The Power Company’s 23% interest in United Electricity Limited, being an exclusively Energy Trading activity, was sold during the period. It was resolved that the funds from the gain on sale of United Electricity Limited would be released to the line business for debt repayment, consequently the Statement of Movement in Equity reflects the funds released from the “other” business for this purpose.

13.0 TRANSFER PRICING

The Power Company Limited line business consists of The Power Company Limited and its joint venture partner PowerNet Limited. In the normal course of business, The Power Company Limited provides management services and rents property to PowerNet Limited. These services are treated as “other” for the purposes of Disclosure Regulation.

On this basis, the “Line” business has paid $45,719 for rent and $21,985 for Management Services to “other” business during the 12 months ended 31 March 1999.

The following amounts were outstanding at balance date:


Rental Owing to Other	$3,825
Management Services Owing to Other	$4,580

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VUW Te Waharoa — NZ Gazette 1999, No 115

NZLII — NZ Gazette 1999, No 115

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Discontinued Activities

Domain💰 Finance & Revenue
KeywordsDiscontinued Activities, United Electricity, Energy Trading, Debt Repayment

💰 Transfer Pricing

Domain💰 Finance & Revenue
KeywordsTransfer Pricing, Management Services, Rental, PowerNet Limited

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