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, amend the Crown Minerals (Royalties for Minerals Other than Petroleum) Regulations 2013 (the principal regulations) to take account of the Financial Reporting Act 2013 (the Act) coming into force on that date. In particular, the meaning given to the term generally accepted accounting practice is changed so that it has the same meaning as in the Act and the term auditor is given the same meaning as qualified auditor in the Act (with the effect that only a person who meets the requirements to be appointed or act as an auditor, set out in section 36 of the Act, can be an auditor for the purposes of the regulations). The amendments apply in relation to reporting years that commence on or after 1 April 2014.
Date of notification in Gazette: 27 February 2014.
These regulations are administered by the Ministry of Business, Innovation, and Employment.