✨ Financial Transactions
1988
NEW ZEALAND GAZETTE
No. 82
A summary of the related party transactions with the CCC is as follows:
| | 2001
| $000's | 2000
| $000's |
TRANSACTIONS DURING THE YEAR
Purchases from CCC | 303 | 325 |
Revenues from CCC | 1,803 | 1,146 |
Dividend payments to CCHL | 11,216 | 21,030|
OUTSTANDING BALANCES AS AT
31 MARCH
Accounts payable to CCC | 1 | 35 |
Accounts receivable from CCC | 645 | 380 |
Transactions with "other" businesses
For the purposes of Regulation 9 of the Regulations, transactions taking place between the line business and “other” businesses must be identified.
The Company had considerable numbers of interactions with its wholly-owned contracting subsidiary, Connetics Limited, during the years ending 31 March 2000 and 2001.
A small number of interactions with its wholly-owned subsidiary, Enersis Limited, took place in the period 1 April 1999 to 30 June 1999.
A description of the intercompany transactions, revenue amounts and balances at 31 March 2001 and 2000 follows. Note that estimated data has had to be used in the determination and apportionment of costs for Connetics into the required categories.
Connetics
Connetics has provided construction and maintenance services to the line business for the period 1 April 2000 to 31 March 2001, and for a number of prior years.
These services follow the awarding of a contract based on a contested lowest-price conforming tender.
In virtually every case multiple parties were invited to tender for such work.
In the case of emergency maintenance, a contract comprising a negotiated schedule of rates has been agreed. A contract has also been negotiated for the management of system spares.
Contract variations and adjustments have been negotiated between the parties. No debts have been written off or forgiven during the year. Amounts are due the 20th of the month following date of invoice.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 82
Gazette.govt.nz —
NZ Gazette 2001, No 82
✨ LLM interpretation of page content
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Related Parties Transactions
(continued from previous page)
💰 Finance & RevenueShareholders, Transactions, Dividends, Subsidiary, Financial Summary, CCC, CCHL, Connetics Limited, Enersis Limited