β¨ 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.)
Next Page →
β¨ LLM interpretation of page content
π°
Notes to the Financial Statements for Vector Limited & Subsidiaries Gas Transmission Activities
(continued from previous page)
π° Finance & RevenueFinancial Statements, Notes, Contingent Liabilities, Related Party Transactions, Revenue, Gas Transmission
NZ Gazette 2012, No 24