New Zealand Gazette – 2003 – No. 158

Page 4385

✨ Financial Transactions Report

10. Related Party Transactions

The following transactions occurred during the period with Related Parties:

	Distribution		Retail
	2003	2002	2003	2002
	$	$	$	$

Wanganui District Council (74.9% Shareholder):
by virtue of 100% Shareholding in Wanganui District Council Holdings Ltd
(C E Poynter, Mayor)


Rent	71,058	71,663	22,997	23,083
Information Services	130,143	3,194	84,667	3,542
Support
Plant hire	0	1,829	0	2,264
Rates	15,638	7,492	765	1,025
Other	2,985	3,525	3,814	4,362
Total	219,824	87,723	112,243	34,276

NGC Holdings Group (25.1% Shareholder):
(H J Bentley, Director & K M Baker, Chief Financial Officer)


Gas Purchases &	0	0	5,226,433	4,081,434
Transmission Services
Total	0	0	5,226,433	4,081,434

Amounts Owed to Related Parties at Balance date were:


Wanganui District	6,253	3,752	3,193	1,466
Council
NGC Holdings Group	0	0	223,810	399,061

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).

	2003	2002
Distribution Revenue
from Retail
Gas Distribution	3,035,837	2,996,228
Tariffs *

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.

VUW Te Waharoa — NZ Gazette 2003, No 158

Gazette.govt.nz — NZ Gazette 2003, No 158

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Related Party Transactions

Domain💰 Finance & Revenue
KeywordsFinancial Transactions, Wanganui District Council, NGC Holdings Group, Distribution, Retail
👱🏽 Names

C. E. Poynter, Mayor of Wanganui District Council
H. J. Bentley, Director of NGC Holdings Group
K. M. Baker, Chief Financial Officer of NGC Holdings Group

💰 Prescribed Business Relationships

Domain💰 Finance & Revenue
KeywordsBusiness Relationships, Gas Distribution, Retail, Tariffs

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