✨ Financial Disclosures
3 DECEMBER NEW ZEALAND GAZETTE 4389
10. Related Party Transactions
The following transactions occurred during the period with Related Parties:
| Distribution 1999 $ | Distribution 1998 $ | Retail 1999 $ | Retail 1998 $ | |
|---|---|---|---|---|
| Wanganui District Council (74.9% Shareholder): | ||||
| (C E Poynter, Mayor) | ||||
| Rent | $ 78,152 | $ 69,108 | $ 23,149 | $ 21,664 |
| Information Services | $ - | $ 4,231 | $ - | $ 4,170 |
| Support | ||||
| Plant hire | $ - | $ 223 | $ - | $ 166 |
| Rates | $ 5,008 | $ 4,518 | $ 1,404 | $ 1,289 |
| Other | $ 974 | $ 2,824 | $ 663 | $ 2,106 |
| Total | $ 84,134 | $ 80,904 | $ 25,216 | $ 29,395 |
| Distribution 1999 $ | Distribution 1998 $ | Retail 1999 $ | Retail 1998 $ | |
|---|---|---|---|---|
| Natural Gas Corporation (25.1% Shareholder): | ||||
| (R J Bentley, Chief Executive Officer & B M Turfrey, Chief Financial Officer | ||||
| and B J Rennell, Company Secretary/General Counsel) | ||||
| Gas Purchases & Transmission Services | $ - | $ - | $ 3,295,757 | $ 3,513,397 |
| Consultancy Fees | $ 1,806 | $ 2,122 | $ 1,806 | $ 2,122 |
| Other | $ 1,215 | $ 5,966 | $ 826 | $ 4,451 |
| Total | $ 3,021 | $ 8,088 | $ 3,298,389 | $ 3,519,970 |
| Distribution 1999 $ | Distribution 1998 $ | Retail 1999 $ | Retail 1998 $ | |
|---|---|---|---|---|
| Treadwell Gordon & Co (G S Swan, consultant) | ||||
| Legal Advice | $ 7,058 | $ 6,533 | $ 13,968 | $ 2,458 |
Amounts Owed to Related Parties at Balance date were:
| 1999 $ | 1998 $ | |
|---|---|---|
| Wanganui District Council | $ 6,627 | $ 5,849 |
| $ 1,986 | $ 2,125 | |
| Natural Gas Corporation | $ 310 | $ 805 |
| $ 338,885 | $ 350,282 | |
| Treadwell Gordon & Co | $ 2,587 | $ - |
| $ 5,120 | $ - |
All Transactions were conducted on normal commercial terms.
11. Prescribed Business Relationships
Under Regulation 22 of the Gas (Information Disclosure) Regulations 1997 total costs and revenue must be disclosed for goods and services provided between entities in prescribed business relationships. 'Distribution' and 'Retail' fall within the Gas (Information Disclosure) Regulations 1997 definition of a prescribed business relationship (Regulation 3).
| 1999 $ | 1998 $ | |
|---|---|---|
| Distribution Revenue from Retail | ||
| Gas Distribution Tariffs* | $ 2,944,750 | $ 3,162,340 |
| Distribution Debtors from Retail | ||
| Wanganui Gas Ltd - Distribution* | $ 256,256 | $ 269,406 |
- Tariff represents revenue to Distribution for the transportation of gas through its distribution network. The value of transactions is calculated by applying current published Distribution tariffs to actual Retail throughput gas volumes and connection numbers. Transactions represent a book entry only. Debtor represents June revenue - assumed to be paid in the subsequent month.
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VUW Te Waharoa —
NZ Gazette 1999, No 185
NZLII —
NZ Gazette 1999, No 185
✨ LLM interpretation of page content
🏭
Related Party Transactions for Wanganui Gas Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Transactions, Related Parties, Wanganui Gas Limited, Wanganui District Council, Natural Gas Corporation, Treadwell Gordon & Co
- C. E. Poynter (Mayor), Representative of Wanganui District Council
- R. J. Bentley (Chief Executive Officer), Representative of Natural Gas Corporation
- B. M. Turfrey (Chief Financial Officer), Representative of Natural Gas Corporation
- B. J. Rennell (Company Secretary/General Counsel), Representative of Natural Gas Corporation
- G. S. Swan (Consultant), Representative of Treadwell Gordon & Co
🏭 Prescribed Business Relationships Disclosure
🏭 Trade, Customs & IndustryFinancial Disclosure, Business Relationships, Gas Distribution Tariffs, Wanganui Gas Ltd