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New Zealand Gazette – 2000 – No. 162

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✨ Financial Statements

NEW ZEALAND GAZETTE

No. 162

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2000

2. RELATED PARTY

As a State owned enterprise, shares in Transpower are held by the shareholding Ministers on behalf of the Crown. Related party transactions have been entered into with other State Owned Enterprises, principally Electricity Corporation of New Zealand Group (ECNZ), Mighty River Power Limited, Genesis Power Limited, Meridian Energy Limited, Broadcast Communications Limited (BCL, a subsidiary of Television New Zealand).

d-Cypha Limited, a wholly owned subsidiary of Transpower New Zealand Limited and other business activities undertaken by Transpower New Zealand Limited ("Other Transpower Businesses") do not form part of the lines business.

Transactions with these entities are disclosed in Note V.

On 14 May 1999 Contact Energy Limited was sold, and therefore ceased to be a related party at that date.

Related party transactions have been disclosed for comparative purposes.

The subsidiary companies identified in Note 21 are related parties of Transpower.

Transactions entered into with related parties are disclosed as follows:

Revenue from ECNZ, Meridian Energy Limited, Mighty River Power Limited, Genesis Power Limited, Contact Energy Limited and Transpower Group associate are disclosed in Note 3.
Operating expenses in relation to ECNZ, Mighty River Power Limited, Meridian Energy Limited, Genesis Power Limited, BCL, Contact Energy Limited the Transpower Group associate and subsidiary companies are disclosed in Note 4 and Note 6.
Annual capital work in progress expenditure paid to BCL is disclosed in Note 9.
Outstanding balances due from and to ECNZ, Meridian Energy Limited, Genesis Power Limited, Mighty River Power Limited, BCL and the Transpower subsidiaries companies are disclosed in Notes 8, 9 and 10.

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

VUW Te Waharoa — NZ Gazette 2000, No 162

Gazette.govt.nz — NZ Gazette 2000, No 162

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Related Party Transactions, Transpower, State Owned Enterprises, ECNZ, Mighty River Power, Genesis Power, Meridian Energy, BCL, Contact Energy

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