31 MARCH 2010 NEW ZEALAND GAZETTE, No. 38 1049

(a) Saleable is an output produced to a level at which it would ordinarily be considered by participants in the relevant market:

(i) to be the output of the process; and

(ii) to have a commercial value as that output.

(b) A sub-standard product which is discarded is taken not to be saleable or of saleable quality.

(c) An output which is recycled back while carrying out the activity as defined to produce a new output is not saleable or of saleable quality.

(d) Material which is scrapped or lost before it is packaged as a product that is saleable or of saleable quality:

(i) is not saleable or of saleable quality; and

(ii) is not to be included in an amount of product (basis of allocation).

(4) Expressions defined in the Act have the same meaning in this notice as they do in the Act unless the context otherwise requires.

3. Data required to be provided—(1) Any person carrying out the activity on the date of this notice must provide to the Ministry for the Environment data for the financial years for the activity in the form of the specified template, calculated in accordance with the data collection rules, together with the completed declaration and bases of preparation.

(2) In calculating the data for the activity, the person must include only the included emissions set out at Schedule 2 to this notice and must exclude the excluded emissions set out at Schedule 3 of this notice.

4. Deadline for provision of data—The data required by clause 3 of this notice must be provided to the Ministry for the Environment within 30 working days of the date of this notice.

Schedule 1

Revenue Rules

1. Revenue must be calculated as the quantity of activity outputs, for each of the financial years, multiplied by an appropriate market price, exclusive of GST, for each activity output for each of the financial years.

2. Quantity of activity output(s) is either the direct measure of activity output or is calculated from units sold and changes in inventory. The same methodology must be used for all years.

3. The market price must be a ‘plant gate’ price for the activity output. It is the fair value of the product, as defined under the New Zealand Accounting Standard NZ IAS 18, adjusted for transport costs to reflect the market into which it is sold. It must be calculated for each of the financial years either from the revenue received from all external activity output sales during each of the financial years, divided by the number of units of external activity output sales during each of these years; or by using an observable market price applicable to each of the financial years. An observable market price must be based on a relevant price listed on an international exchange, a price obtained from an industry analyst’s report or a price derived from government or industry body statistics.

4. Market price must be converted from foreign currencies to New Zealand dollars at the historical rate relevant to the period of activity output.

5. A weight may be applied to the market price, as calculated in accordance with revenue rules 3 and 4, in each of the financial years. Where a weighting is used, a weight of 0.7 will be applied in the financial year with the highest market price and a weight of 1.15 will be applied in the other two financial years.