This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 April 2014, are made under the Financial Reporting Act 2013 (the Act). They revoke the Financial Reporting Levies Regulations 2012, which were made under the Financial Reporting Act 1993. However, they have the same effect as those regulations in that they—
The purpose of the levy is to fund—
a portion of the costs of the External Reporting Board (which was established under the Financial Reporting Act 1993 and is continued under the Act) performing its functions and exercising its powers under the Act; and
the costs of collecting the levy money.
Date of notification in Gazette: 27 February 2014.
These regulations are administered by the Ministry of Business, Innovation, and Employment.