Public Finance Act 1989

26V Limits on disclosure requirements

Sections 26Q(2)(b) and 26U(1) do not apply to a decision, circumstance, or statement if the Minister, together with any other Minister designated for the purpose of this section, determines that—

(a)

to incorporate that decision, circumstance, or statement in an economic and fiscal update is likely—

(i)

to prejudice the substantial economic interests of New Zealand; or

(ii)

to prejudice the security or defence of New Zealand or the international relations of the Government; or

(iii)

to compromise the Government in a material way in negotiation, litigation, or commercial activity; or

(iv)

to result in material loss of value to the Government; and

(b)

there is no reasonable or prudent way the Government can avoid this prejudice, compromise, or material loss,—

(i)

in the case of a circumstance, by making a decision before the day on which the forecast financial statements are finalised; or

(ii)

in the case of a decision or circumstance, by incorporating in the update the fiscal implications of that decision or circumstance, or the nature of that decision or circumstance, but without reference to its fiscal implications; or

(iii)

in the case of a statement, by incorporating that statement in the update.

Section 26V: inserted, on 25 January 2005, by section 7 of the Public Finance Amendment Act 2004 (2004 No 113).