The Commerce Commission (“Commission”) gives notice that, under section 53ZF and Schedule 5 of the Commerce Act 1986, it proposes to incorporate by reference the New Zealand Equivalent to International Accounting Standard 24, Related Party Disclosures (“NZ IAS 24”), issued by the New Zealand Accounting Standards Board of the External Reporting Board in November 2009, and incorporating any amendments up to and including 31 December 2015, into the:

1. Commerce Act (Specified Airport Services Input Methodologies) Determination 2010, decision number 709 (“Airports IMs”); and
2. Transpower Input Methodologies Determination [2012] NZCC 17 (“Transpower IMs”).

Comments on Material Proposed to be Incorporated by Reference

Written comments on the Commission’s proposal to incorporate NZ IAS 24 by reference can be made via the Commission’s website here: https://comcom.govt.nz/regulated-industries/input-methodologies/input-methodologies-for-electricity-gas-and-airports/input-methodologies-projects/2023-input-methodologies-review.

Comments on the proposal to incorporate NZ IAS 24 into:

1. the Airports IMs are due by 5.00pm on 19 July 2023; and
2. the Transpower IMs are due by 5.00pm on 26 July 2023

Availability of Material for Inspection

Copies of NZ IAS 24 are available for free download via the External Reporting Board’s website (https://www.xrb.govt.nz/standards/accounting-standards/for-profit-standards/standards-list/nz-ias-24/ and for inspection free of charge, or for purchase at a reasonable price, at the Commission’s office at Level 9, 44 The Terrace, Wellington (during ordinary office hours).

Dated at Wellington this 14th day of June 2023.

COMMERCE COMMISSION.