New Zealand Gazette – 2002 – No. 170

Page 4278

✨ Financial Instruments Notes

4278 NEW ZEALAND GAZETTE No. 170

11. Financial Instruments

Interest Rate Risk

There is no interest rate risk as NGC – Transmission Activities does not hold any interest bearing assets or liabilities.

Credit Risk

Financial instruments potentially subject to credit risk are cash deposits and trade debtors. Cash deposits are placed with a small number of trading banks and the amount deposited per bank is limited. The counter parties and the credit limits are approved by the Board of Directors. NGC completes credit evaluations on customers where possible and requires a bond to be paid when customers cannot demonstrate an adequate credit history. There are no significant concentrations of credit risk.

Foreign Currency Risk

Transactions denominated in foreign currencies are undertaken from time to time and resulting from these activities exposures in foreign currencies arise, these exposures are managed by other NGC Group companies.

Fair Values

Cash at bank, other investments, trade creditors and amounts due to subsidiaries - the carrying value of these items is equivalent to their fair value.

VUW Te Waharoa — NZ Gazette 2002, No 170

Gazette.govt.nz — NZ Gazette 2002, No 170

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏭 NGC – Gas Transmission Activities Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated30 June 2002
KeywordsFinancial Instruments, Interest Rate Risk, Credit Risk, Foreign Currency Risk, Fair Values, Cash Deposits, Trade Debtors, Credit Evaluations, Bonds

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