2021/307
Rt Hon Dame Helen Winkelmann, Administrator of the Government
At Wellington this 4th day of October 2021
Present:The Right Hon Jacinda Ardern presiding in Council
These regulations are made under section 49 of the Financial Reporting Act 2013—
on the advice and with the consent of the Executive Council; and
on the recommendation of the Minister of Commerce and Consumer Affairs made in accordance with section 48 of that Act.
These regulations are the Financial Reporting (Inflation Adjustments) Regulations 2021.
These regulations come into force on 1 January 2022.
Regulations 4 and 5 amend the Financial Reporting Act 2013.
(1)
In section 45(1)(a), replace “$60 million” with “$66 million”.
“$60 million”
“$66 million”
(2)
In section 45(1)(b), replace “$30 million” with “$33 million”.
“$30 million”
“$33 million”
(3)
In section 45(1), example, replace “$30 million” with “$33 million”.
(4)
In section 45(2)(a), replace “$20 million” with “$22 million”.
“$20 million”
“$22 million”
(5)
In section 45(2)(b), replace “$10 million” with “$11 million”.
“$10 million”
“$11 million”
In section 46, replace “$125,000” with “$140,000”.
“$125,000”
“$140,000”
Regulation 7 amends the Charities Act 2005.
In section 42D(1)(a), replace “$1 million” with “$1.1 million”.
“$1 million”
“$1.1 million”
In section 42D(1)(b)(ii), replace “$500,000” with “$550,000”.
“$500,000”
“$550,000”
Regulation 9 amends the Companies Act 1993.
In section 204(3)(a), replace “$20 million” with “$22 million”.
In section 204(3)(b), replace “$10 million” with “$11 million”.
Regulation 11 amends the Friendly Societies and Credit Unions Act 1982.
In section 64(2), replace “$30 million” with “$33 million”.
Martin Bell,for Clerk of the Executive Council.
These regulations come into force on 1 January 2022. They amend various sections of the Financial Reporting Act 2013, the Charities Act 2005, the Companies Act 1993, and the Friendly Societies and Credit Unions Act 1982. The amendments adjust amounts of money specified in the sections to account for inflation.
Issued under the authority of the Legislation Act 2012.
Date of notification in Gazette: 7 October 2021.
These regulations are administered by the Ministry of Business, Innovation, and Employment.