as at 30 June 2015
Unquantifiable contingent liabilities
The Ministry on behalf of the Crown has no unquantifiable contingent liabilities at 30 June 2015. (2014: An unsolicited assessment from the New Zealand Fire Service Commission was received in September 2010. This related to fire service levies on arts exhibitions covered by the Government Indemnity of Touring Exhibitions scheme. This issue has been resolved and no liability was due.)
Quantifiable contingent liabilities
Claims have been made to the Ministry on behalf of the Crown, under the Public Works Act 1981 for compensation resulting from the acquisition of the easement taken under section 18 of the National War Memorial Park (Pukeahu) Empowering Act 2012 enabling part of the Park to be constructed on land owned by the claimants. Landscaping related to the Park has been undertaken on this land.
Section 18 of the National War Memorial Park (Pukeahu) Empowering Act 2012 entitles the landowners to compensation under the Public Works Act 1981 for the taking of this easement. The compensation claimed is $4.604 million. The Ministry has received legal advice that, on the legal basis of the claims, the compensation payable will likely be less than the amounts claimed.
The Ministry on behalf of the Crown has no contingent assets (2014: nil).
The accompanying notes form part of these financial statements.
For a full understanding of the Crown’s financial position and the results of its operations for the year, refer to the consolidated Financial Statements of the Government for the year ended 30 June 2015.
Updated on 3rd December 2015