19 MAY 2005

NEW ZEALAND GAZETTE, No. 80

exempted by its terms, or the terms of any other
approved financial reporting standard or by law;
● to apply to annual accounting periods beginning on
or after 1 January 2007;
● to apply to annual accounting periods commencing
on or after 1 January 2006, when an entity complies
with New Zealand Equivalent to International
Financial Reporting Standard 1 First-time Adoption of
New Zealand Equivalents to International Financial
Reporting Standards; and
● a Regulation for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of NZ IFRIC 4 Determining Whether an
Arrangement Contains a Lease is permitted for annual
accounting periods commencing on or after 1 January 2005,
but only where an entity complies with New Zealand
Equivalent to International Financial Reporting Standard
1 First-time Adoption of New Zealand Equivalents to
International Financial Reporting Standards.

Copies of NZ IFRIC 4 Determining Whether an Arrangement
Contains a Lease may be inspected free of charge at,
and will be made available for purchase from, the offices
of the Institute of Chartered Accountants of New Zealand,
40 Mercer Street (P.O. Box 110-342), Wellington, and
27-33 Ohinerau Street (P.O. Box 3334), Auckland.

Dated this 17th day of May 2005.

WARWICK HUNT, Chairman, Accounting Standards
Review Board.

gs3040

Approval of New Zealand Equivalent to IFRIC
Interpretation 5 Rights to Interest Arising From
Decommissioning, Restoration and Environmental
Rehabilitation Funds (NZ IFRIC 5) (Notice No. 42)

Notice is hereby given, pursuant to section 29 of the Financial
Reporting Act 1993 (“the Act”), that the Accounting
Standards Review Board has approved, as a financial
reporting standard for the purposes of the Act, New Zealand
Equivalent to IFRIC Interpretation 5 Rights to Interest
Arising From Decommissioning, Restoration and
Environmental Rehabilitation Funds (NZ IFRIC 5)
(and the consequential amendments to NZ IAS 39 Financial
Instruments: Recognition and Measurement set out in this
standard (“the consequential amendments”)), which has
been submitted to it by the Institute of Chartered Accountants
of New Zealand.

NZ IFRIC 5 Rights to Interest Arising From
Decommissioning, Restoration and Environmental
Rehabilitation Funds (together with the consequential
amendments) is:
● to apply to all reporting entities and groups, the
Crown and all departments, offices of Parliament
and Crown entities, and all local authorities (each of
which is defined in the Act) other than where expressly
exempted by its terms, or the terms of any other
approved financial reporting standard or by law;
● to apply to annual accounting periods beginning on
or after 1 January 2007;
● to apply to annual accounting periods beginning
on or after 1 January 2006, where such persons elect
to comply with NZ IFRS 1 First Time Adoption of
New Zealand Equivalents to International Financial
Reporting Standards; and
● is a Regulation for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of NZ IFRIC 5 Rights to Interest Arising
From Decommissioning, Restoration and Environmental
Rehabilitation Funds (together with the consequential
amendments) is permitted for annual accounting periods
commencing on or after 1 January 2005, but only where
an entity complies with New Zealand Equivalent to
International Financial Reporting Standard 1 First-time
Adoption of New Zealand Equivalents to International
Financial Reporting Standards.

Copies of NZ IFRIC 5 Rights to Interest Arising From
Decommissioning, Restoration and Environmental
Rehabilitation Funds (together with the consequential
amendments) may be inspected free of charge at, and will
be made available for purchase from, the offices of the
Institute of Chartered Accountants of New Zealand,
40 Mercer Street (P.O. Box 110-342), Wellington, and
27-33 Ohinerau Street (P.O. Box 3334), Auckland.

Dated this 17th day of May 2005.

WARWICK HUNT, Chairman, Accounting Standards
Review Board.

gs3041

Approval of New Zealand Equivalent to
International Financial Reporting Standard 6
Exploration for and Evaluation of Mineral
Resources (NZ FRS 6) (Notice No. 43)

Notice is hereby given, pursuant to section 29 of the Financial
Reporting Act 1993 (“the Act”), that the Accounting
Standards Review Board has approved, as a financial
reporting standard for the purposes of the Act, New Zealand
Equivalent to International Financial Reporting Standard
6 Exploration for and Evaluation of Mineral Resources
(and the consequential amendments to NZ IFRS 1 First Time
Adoption of New Zealand Equivalents to International
Financial Reporting Standards, NZ IAS 16 Property, Plant
and Equipment and NZ IAS 38 Intangible Assets set out in
this standard (“the consequential amendments”)), which has
been submitted to it by the Institute of Chartered
Accountants of New Zealand.

NZ FRS 6 Exploration for and Evaluation of Mineral
Resources (together with the consequential amendments) is:
● to apply to all reporting entities and groups, the
Crown and all departments, offices of Parliament
and Crown entities, and all local authorities (each of
which is defined in the Act) other than where expressly
exempted by its terms, or the terms of any other
approved financial reporting standard or by law;
● to apply to annual accounting periods beginning on
or after 1 January 2007;
● to apply to annual accounting periods beginning on or
after 1 January 2006, where such persons elect to comply
with NZ IFRS 1 First Time Adoption of New Zealand
Equivalents to International Financial Reporting
Standards; and
● is a Regulation for the purposes of the Regulations
(Disallowance) Act 1989.

Early adoption of NZ FRS 6 Exploration for and Evaluation
of Mineral Resources (together with the consequential
amendments) is permitted for annual accounting periods
commencing on or after 1 January 2005, but only where
an entity complies with New Zealand Equivalent to
International Financial Reporting Standard 1 First-time
Adoption of New Zealand Equivalents to International
Financial Reporting Standards.

Copies of NZ FRS 6 Exploration for and Evaluation
of Mineral Resources (together with the consequential
amendments) may be inspected free of charge at, and
will be made available for purchase from, the offices of
the Institute of Chartered Accountants of New Zealand,