✨ Corporate Financial Disclosures
4364 NEW ZEALAND GAZETTE, No. 155 25 NOVEMBER 2013
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
25. Related parties
Transactions with key management personnel
The Transpower Lines Business did not conduct any business with key personnel.
Key management personnel compensation
Key personnel received the following compensation for their services to the Transpower Lines Business.
| 2013 | 2012 | |
|---|---|---|
| $M | $M | |
| Directors' fees | 0.5 | 0.5 |
| Other key management personnel | 4.6 | 4.7 |
| Defined contribution schemes | 0.2 | 0.1 |
There were no termination payments to key management personnel in 2013 (2012: $0.4 million).
Government-related transactions
Transpower, being a State-Owned Enterprise, transacts with other government-related entities. The most significant transactions and balances are as follows:
| 2013 | 2012 | |
|---|---|---|
| $M | $M | |
| Meridian Energy Limited - revenue | 102.5 | 101.3 |
Meridian Energy Limited (Meridian), is a State-Owned Enterprise which is an electricity generator and retailer. Meridian pays Transpower primarily for the transportation of electricity across the national electricity grid.
Transpower also settles its income and indirect tax obligations with the Inland Revenue Department.
Some directors of the company may be directors or officers of other companies or organisations with which Transpower may transact. Such transactions are carried out on an "arm's length" and independent commercial basis.
Next Page →
NZ Gazette 2013, No 155
✨ LLM interpretation of page content
🏭
Transpower New Zealand Limited Lines Business Entities
(continued from previous page)
🏭 Trade, Customs & IndustryCorporate Structure, Subsidiaries, Transpower, Finance