Commodity Levies Act 1990

Miscellaneous provisions

25: Annual report and statements

You could also call this:

"Industry groups must report each year on how they spent levy money"

Illustration for Commodity Levies Act 1990

When a levy is paid to an industry organisation, they must prepare some statements at the end of each financial year. You will see statements about the organisation's financial position and how they spent the levy money. The organisation must also get these statements audited within 90 days of the end of the year.

The industry organisation must include these statements in their annual report for the year. They must then give a copy of the report to a Minister, who will table it in the House of Representatives within six sitting days.

If another law says the organisation must give the Minister a copy of the report and the Minister must table it, the organisation must follow that law if it is different from this one. The organisation must also make sure that people who paid the levy get a copy of the report as soon as possible, whether or not they are members of the organisation.

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This page was last updated on 30 August 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM227355.

Topics:

Business > Industry rulesMoney and consumer rights > Taxes

24: Offences, or

"Breaking the rules about paying or collecting levies can lead to fines and is against the law"

26: Repeal of other legislation relating to levies, or

"Old laws about levies are being cancelled and will no longer apply."

Part 2Miscellaneous provisions

25Annual report and statements

As soon as is practicable after the end of a financial year during which a levy has been paid to an industry organisation under a levy order, the organisation shall prepare in respect of the year—
statements (relating only to money paid to the organisation under the order as levy, and assets acquired or built up with or out of, or by virtue of spending, money paid under the order as levy) of the organisation's financial position at the end of the year; and
statements of the organisation's receipt and expenditure of money paid as levy under the order; and
all other statements necessary to show fully—
1. the organisation's financial position as aforesaid; and
2. the financial results of all of the organisation's activities involving the use of money paid to the organisation under the order as levy, or the use of assets acquired or built up with or out of, or by virtue of spending, money paid under the order as levy;—

Notwithstanding any enactment to the contrary, an industry organisation that is required by subsection (1) to prepare statements in respect of any year shall include them in its annual report for that year.
Subject to subsection (4), an industry organisation that is required by subsection (2) to include statements in its annual report shall, as soon as the report has been completed, give a Minister a copy; and the Minister shall table it in the House of Representatives not later than 6 sitting days after receiving it.
Where an enactment other than this Act—
requires an industry organisation to give a Minister a copy of its annual report; and
requires the Minister to table it in the House of Representatives,—

An industry organisation that is required by subsection (2) to include statements in its annual report shall take all reasonable steps to ensure that all persons primarily liable for paying the levy to which the statements (or any of them) relate receive a copy—
as soon as is reasonably practicable after the report has been completed; and
whether or not they are members of the organisation.