New Zealand Gazette – 2002 – No. 173

Page 4379

✨ Financial Statements

29 NOVEMBER
NEW ZEALAND GAZETTE
4379

TRANSPower NEW ZEALAND LIMITED LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS continued
FOR THE YEAR ENDED 30 JUNE 2002

FINANCIAL INSTRUMENTS continued

(d) Maximum credit risk exposure

The maximum credit exposure by counterparty to which Transpower is subject is measured by the market value of cross currency interest rate swaps, foreign exchange forward contracts, interest rate swaps, interest rate options, foreign currency options and forward rate agreements.

Where the current market value by counterparty is negative or represents a loss, Transpower is not subject to credit risk on these instruments at balance date.

Current market value

LINES BUSINESS 2002 $000	LINES BUSINESS 2001 $000
Cross currency interest rate swaps	70,801
Foreign exchange forward contracts	-
Interest rate swaps	3,979
Interest rate options	-
Foreign currency options	-
Forward rate agreements	2

The credit risk arising from the use of derivative products is reduced by the netting and set-off provisions of the documentation and the application of applicable law. The Group further manages this risk by only entering into transactions with counterparties that fall within Transpower’s credit risk management policy as outlined in section (b) risk management policies, of this note.

(e) Carrying value and fair value

Carrying value

For off balance sheet financial instruments the carrying value in the Carrying/Fair Value table below is taken from the other receivables and other liabilities categories in the Statement of Financial Position as appropriate. The carrying values represent the results of accounting for these instruments, as described in the Statement of Accounting Policies. The unrealised foreign currency gains and losses on cross currency interest rate swaps are included in the carrying value of debt.

VUW Te Waharoa — NZ Gazette 2002, No 173

Gazette.govt.nz — NZ Gazette 2002, No 173

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 Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Credit Risk, Market Value, Derivative Products, Risk Management

As the Gazette has been published for more than 185 years, copyright status depends on the publication date of each issue:

1840–1925 (Public Domain): Issues of the New Zealand Gazette and Provincial Gazettes from this period are in the public domain, as the term of Crown copyright (100 years) has expired. Mechanical reproductions (e.g., scanned PDFs) of these public domain documents do not attract new copyright.
1926–1999 (Crown Copyright): Issues from this period remain subject to Crown copyright. Usage of these issues in this project is "Fair Dealing" for research purposes and consistent with the spirit of the open-access principles championed by NZGOAL, ie, "The default licensing position under ... NZGOAL is the Creative Commons Attribution 4.0 International licence ... [t]o the greatest extent possible, agencies should apply this licence to copyright material on their websites"
2000–Present (CC-BY 3.0 NZ): Gazette issues published on gazette.govt.nz are Crown copyright but are explicitly licensed by the Department of Internal Affairs under the Creative Commons Attribution 3.0 New Zealand licence (CC-BY 3.0 NZ). This project redistributes this content in accordance with those terms.

Nothing in this project is intended to infringe copyright, trademark law or personal privacy. Please contact me immediately if you have any concerns.

Third-Party Content

Where third-party content (e.g., notices submitted by external organisations) is identified within the Gazette, users should satisfy themselves regarding the copyright status of that specific content, as it may be subject to different ownership terms than the Gazette itself.

Sources and Attribution

NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
New Zealand Gazettes by New Zealand Legal Information Institute (note: "NZLII is not the copyright owner in the source documents published on NZLII")
- Issues from 1913-1999
Gazette.govt.nz, Crown copyright / licensed by the Department of Internal Affairs under CC-BY 3.0 NZ
- Issues from 2000-2017

Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

PDF Icon

The PDF PDF Icon was made by Good Ware, CC BY-SA 4.0.

Masthead

The logo in the header is an edited version of “Winning Coat of Arms Competition Entry, 1908” by Archives New Zealand, CC BY 2.0 (found via Wikipedia).

Who made this?

I'm Luke Howison, a freelance web developer with an interest in genealogy. I have created several websites for genealogical research, such as NZ Ancestor Search Helper.

New Zealand Gazette Index