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Crown Entities Act 2004

Miscellaneous provisions - Transitional and savings provisions

198: Reporting obligations in respect of financial years ending before 1 July 2006

You could also call this:

"Old finance reporting rules apply for Crown entities' financial years ending before 1 July 2006"

Illustration for Crown Entities Act 2004

If you are part of a Crown entity, you need to follow certain rules when reporting about your finances. You have to follow the old rules that were in place before this Act was passed for financial years that ended before 1 July 2006. This means you have to do things like make annual financial statements and have your accounts audited according to the old rules in the Public Finance Act 1989 or your entity's own Act.

When you are reporting about your finances for those years, you have to comply with the requirements that were in place at that time. This includes making annual reports and having audits done as required by the Public Finance Act 1989 or your entity's own Act. You have to follow these old rules instead of the new ones in this Act.

There are some exceptions to these rules, though. For example, section 134(2)(d)(iv) and (v) of the Education and Training Act 2020 applies to financial years that end on or after 31 December 2004. Also, section 152 applies to the financial year that started on 1 July 2005 and every year after that.

When this section talks about a Crown entity, it includes any entity that has to report its finances as if it were a Crown entity, according to another Act.

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199: Regulations for transitional, savings, and general purposes, or

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Part 5Miscellaneous provisions
Transitional and savings provisions

198Reporting obligations in respect of financial years ending before 1 July 2006

  1. The reporting requirements and provisions that would have applied if this Act and the Public Finance Amendment Act 2004 had not been enacted continue to apply in respect of each financial year that ends before 1 July 2006 to a Crown entity, rather than the reporting requirements and provisions enacted by this Act.

  2. Therefore, for example, the Crown entity must comply, in respect of those financial years, with the requirements relating to annual financial statements, annual reports, and audits that were in the Public Finance Act 1989 or the entity's Act, as the case may be, immediately before the commencement of this section.

  3. Despite subsections (1) and (2),—

  4. section 134(2)(d)(iv) and (v) of the Education and Training Act 2020 applies in respect of each financial year that ends on or after 31 December 2004; and
    1. section 152 applies in respect of the financial year commencing on 1 July 2005 and each subsequent financial year.

      1. In this section, Crown entity includes any entity that is required by any other Act to report as though it were a Crown entity.

      Notes
      • Section 198(3)(a): amended, on , by section 668 of the Education and Training Act 2020 (2020 No 38).