New Zealand Gazette – 2007 – No. 129

Page 3339

✨ Financial Transactions and Relationships

27 NOVEMBER 2007
NEW ZEALAND GAZETTE, No. 129
3339

11. Related Party Transactions

The following transactions occurred during the period with Related Parties:

Wanganui Gas Ltd is a wholly owned subsidiary of Wanganui District Council Holdings Ltd (WDCHL), a Council Controlled Organisation of Wanganui District Council.
Until 27/10/06 Vector Gas Investments Limited (a subsidiary of Vector Limited) held 25.1% of the shares. These were sold to WDCHL on that date.

	Distribution 2007 $	2006 $	Retail 2007 $	2006 $
Rent	67,188	68,010	29,002	28,839
IT services	45,832	42,853	39,658	42,588
Rates	36,463	37,842	992	1,173
Subvention Payment	1,622,811	-	113,059	-
Other	18,556	33,384	20,804	31,947
	1,790,850	182,089	203,515	104,547

Vector by virtue of it's 100% ownership of NGC Investments Ltd (25.1% Shareholder until 27/10/06) ( S L Bielby, General Counsel, M P Stiassny, Chairman)
On 27/10/06 Vector sold its shares to Wanganui District Holdings and S L Bielby and M P Stiassny resigned as Directors.

Gas purchases & transmission services	-	-	8,929,765	15,786,782
Other	725	3,340	813	3,197
	725	3,340	8,930,578	15,789,979

Doyle & Associates
(M J Doyle, Principal)

Consulting

2,850

645

2,565

581

WGL Transactions to Vector

Transport related charges	23,904	70,371	-	-
Other	6,440	17,552	-	-
	30,344	87,923	-	-

Amounts Owed to Related Parties at Balance date were:

Wanganui District Council	797,720	36,731	90,653	21,089
Vector Ltd	-	387	-	1,629,143
Doyle & Associates	-	270	-	243

All Transactions were conducted on normal commercial terms.

Credit line facilities are with WDC and WDCHL refer to Note 7.

12. 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).

	2007 $	2006 $
Distribution Revenue from Retail
Gas Distribution Tariffs *	3,856,380	3,670,272

Distribution Debtors from Retail
Wanganui Gas Ltd - Distribution *	412,428	422,097

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 2007, No 129

Gazette.govt.nz — NZ Gazette 2007, No 129

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 Related Party Transactions

Domain💰 Finance & Revenue
KeywordsFinancial transactions, related parties, Wanganui Gas Ltd, Vector Limited, Wanganui District Council, WDCHL
👱🏽 Names

S. L. Bielby, Resigned as Director
M. P. Stiassny, Resigned as Director

💰 Prescribed Business Relationships

Domain💰 Finance & Revenue
KeywordsBusiness relationships, gas distribution, retail, tariffs

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