✨ Financial Statements Notes




688 NEW ZEALAND GAZETTE, No. 24 28 FEBRUARY 2012

VECTOR LIMITED & SUBSIDIARIES

GAS TRANSMISSION ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2011

14. CONTINGENT LIABILITIES

Claims against the gas transmission activities, where appropriate, have been recognised and disclosed within provisions. No other material contingent liabilities requiring disclosure have been identified.

15. TRANSACTIONS WITH RELATED PARTIES

| NATURE OF THE TRANSACTION | RELATED PARTY | 2011
($000) | 2010
($000) |
|---------------------------------------------------------------------|-----------------------------------|----------------|----------------|
| Sale of transmission services based on actual revenue charged
and notional revenue charged. | Gas wholesale/retailing activities | 27,062 | 30,789 |
| Purchase of gas on standard terms and conditions. | Gas retailing activities | 5,179 | 3,475 |
| Purchase of mechanical services at market rates for the
maintenance of export compressor based at Kapuni. | Kapuni gas treatment plant | 764 | 567 |

(Transmission services charges are paid by related parties at the time of billing.)



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Online Sources for this page:

Gazette.govt.nz PDF NZ Gazette 2012, No 24





✨ LLM interpretation of page content

πŸ’° Notes to the Financial Statements for Vector Limited & Subsidiaries Gas Transmission Activities (continued from previous page)

πŸ’° Finance & Revenue
Financial Statements, Notes, Contingent Liabilities, Related Party Transactions, Revenue, Gas Transmission