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Local Government Act 2002

Council-controlled organisations and council organisations - Monitoring and reporting

66: Half-yearly or quarterly reports

You could also call this:

“Regular updates on council-controlled organisations' activities”

You need to know about how council-controlled organisations report on their operations during each financial year. These organisations must report to their shareholders and any local authorities that indirectly control them.

If the organisation reports half-yearly, they must give their report within 2 months after the first half of the financial year ends. If the shareholders ask for quarterly reports, the organisation must also give reports within 2 months after the first and third quarters end.

These reports must include all the information that the organisation’s statement of intent says they need to include.

When a local authority gets one of these reports, they have to publish it on their website within 1 month. They must keep the report on their website for at least 7 years.

This helps make sure that council-controlled organisations are open about what they’re doing and that people can easily find this information.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM171896.

Topics:
Government and voting > Local councils
Business > Industry rules
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“Checking how well council-owned groups are doing their job”

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67: Annual report, or

“Council groups must write a yearly report about what they did”

Part 5 Council-controlled organisations and council organisations
Monitoring and reporting

66Half-yearly or quarterly reports

  1. During each financial year, the board of a council-controlled organisation must report on the organisation’s operations to—

  2. its shareholders; and
    1. in the case of an organisation that is indirectly controlled by 1 or more local authorities (for example, a subsidiary of a holding company owned by a local authority), to each local authority that indirectly controls the organisation.

      1. A half-yearly report must be delivered within 2 months after the end of the first half of each financial year.

      2. If the shareholders of the council-controlled organisation notify the organisation that they require quarterly reporting, quarterly reports must also be delivered within 2 months after the end of the first and third quarters of each financial year.

      3. Each report must include the information required to be included by the council-controlled organisation’s statement of intent.

      4. Each local authority that receives a report under this section must publish the report on an Internet site maintained by or on behalf of the local authority within 1 month of receiving it and must maintain the report on that site for a period of no less than 7 years.

      Compare
      Notes
      • Section 66: replaced, on , by section 24 of the Local Government Act 2002 Amendment Act 2019 (2019 No 54).