198 Reporting 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),—

(a)

section 87(2)(ca)(iv) and (v) of the Education Act 1989 applies in respect of each financial year that ends on or after 31 December 2004; and

(b)

section 152 applies in respect of the financial year commencing on 1 July 2005 and each subsequent financial year.

(4)

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