✨ Financial Transactions and Disclosures
1 DECEMBER
NEW ZEALAND GAZETTE
4175
10. Related Party Transactions
The following transactions occurred during the period with Related Parties:
| Distribution | Retail | |||
|---|---|---|---|---|
| 2000 $ | 1999 $ | 2000 $ | 1999 $ | |
| Wanganui District Council (74.9% Shareholder): | ||||
| (C E Poynter, Mayor) | ||||
| Rent | $ 69,059 | $ 78,152 | $ 19,775 | $ 23,149 |
| Information Services Support | $ - | $ - | $ - | $ - |
| Plant hire | $ - | $ - | $ - | $ - |
| Rates | $ 5,156 | $ 5,008 | $ 1,476 | $ 1,404 |
| Other | $ 569 | $ 974 | $ 415 | $ 663 |
| $ 74,784 | $ 84,134 | $ 21,666 | $ 25,216 |
| Natural Gas Corporation (25.1% Shareholder): | | | | |
| (R J Bentley, Chief Executive Officer & K M Baker, Chief Financial Officer and B J Rennell, Company Secretary/General Counsel) | | | | |
| Gas Purchases & Transmission Services | $ - | $ - | $ 3,317,000 | $ 3,295,757 |
| Consultancy Fees | $ - | $ 1,806 | $ - | $ 1,806 |
| Other | $ 324 | $ 1,215 | $ 236 | $ 826 |
| Shares Purchased | $ 1,373 | $ - | $ 2,374 | $ - |
| | $ 1,697 | $ 3,021 | $ 3,319,610 | $ 3,298,389 |
| Treadwell Gordon & Co (G S Swan, consultant) | | | | |
| Legal Advice | $ 4,932 | $ 7,058 | $ 8,925 | $ 13,968 |
Amounts Owed to Related Parties at Balance date were:
| Wanganui District Council | $ 5,866 | $ 6,627 | $ 1,700 | $ 1,986 |
| Natural Gas Corporation | $ 183 | $ 310 | $ 357,125 | $ 338,885 |
| Treadwell Gordon & Co | $ 655 | $ 2,587 | $ 1,185 | $ 5,120 |
All Transactions were conducted on normal commercial terms.
NGC Shares purchased following Rights Issue
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).
| 2000 $ | 1999 $ | |
|---|---|---|
| Distribution Revenue from Retail | ||
| Gas Distribution Tariffs * | $ 3,164,734 | $ 2,944,750 |
| Distribution Debtors from Retail | ||
| Wanganui Gas Ltd - Distribution * | $ 282,878 | $ 256,256 |
- 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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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 161
Gazette.govt.nz —
NZ Gazette 2000, No 161
✨ LLM interpretation of page content
💰
Notes to the Financial Statements for the Year ended 30 June 2000
(continued from previous page)
💰 Finance & RevenueFinancial Instruments, Credit Risk, Interest Rate Risk, Currency Risk, Bank Balances, Accounts Receivable, Investments, Borrowings
💰 Related Party Transactions
💰 Finance & RevenueTransactions, Related Parties, Wanganui District Council, Natural Gas Corporation, Treadwell Gordon & Co
- C. E. Poynter, Mayor of Wanganui District Council
- R. J. Bentley, Chief Executive Officer of Natural Gas Corporation
- K. M. Baker, Chief Financial Officer of Natural Gas Corporation
- B. J. Rennell, Company Secretary/General Counsel of Natural Gas Corporation
- G. S. Swan, Consultant at Treadwell Gordon & Co
💰 Prescribed Business Relationships
💰 Finance & RevenueBusiness Relationships, Gas Distribution Tariffs, Distribution Debtors