Formats and related files
MINISTER(S) RESPONSIBLE FOR APPROPRIATIONS: Minister of Commerce (M13)
ADMINISTERING DEPARTMENT: Ministry of Economic Development
MINISTER RESPONSIBLE FOR MINISTRY OF ECONOMIC DEVELOPMENT: Minister for Economic Development
Overview of the Vote#
The Minister of Commerce is responsible for appropriations in the Vote for the 2010/11 financial year covering the following:
- a total of nearly $13 million for policy advice on the effective and low-cost regulation of economic activity, remedies to prevent injury caused by subsidised imports, and the administration of exemptions from import duties
- a total of nearly $39 million for the protection of intellectual property rights and the registration and provision of documents required to be filed on public record
- a total of just over $13 million for the administration of bankruptcies and liquidations, and the management of forfeited property gained from criminal activity
- a total of just over $44 million for services provided by Crown entities under the purview of this Vote to ensure that business and consumers have confidence in the integrity and effectiveness of New Zealand markets and can make informed decisions
- a total of nearly $10 million for the cost of major litigation undertaken by the Commerce Commission, the Securities Commission and the Takeovers Panel
- a total of just under $500,000 for membership of various international organisations, and
- a total of just over $2 million for investment in Crown entities.
Details of these appropriations are set out in Parts 2-6 for Vote Commerce in the Information Supporting the Estimates of Appropriations.
Details of Appropriations#
Details of Annual and Permanent Appropriations
| 2009/10 | 2010/11 | ||
|---|---|---|---|
| Titles and Scopes of Appropriations by Appropriation Type | Budgeted $000 |
Estimated Actual $000 |
Budget $000 |
Departmental Output Expenses |
|||
Administration of Insolvencies (M13)The administration of bankruptcies and liquidations under the Insolvency Act 2006 and the Companies Act 1993 and the management of proceeds of crime orders under the Proceeds of Crime Act 1991. |
14,117 | 14,111 | 13,429 |
Administration of Part II Tariff Concessions (M13)Assessing applications by importers to be exempted from import duties under the tariff concessions policy. |
346 | 346 | 352 |
Policy Advice and Investigative Services - Regulatory Environment MCOA (M13) |
14,094 | 13,344 | 12,426 |
Administration of Trade RemediesThis appropriation is limited to investigative services including ministerial servicing to establish whether New Zealand industries require remedies to prevent injury caused by dumped or subsidised imports or sudden import surges. |
1,076 | 1,076 | 1,100 |
Policy and Purchase Advice - Business Law and Competition PolicyThis appropriation is limited to policy advice and ministerial servicing in relation to international negotiating expertise on the financial sector legal frameworks; competition law policy and corporate governance policy; intellectual property rights; standards and conformance issues and technical barriers to trade; trade remedies, tariffs, rules of origin, and other border issues; quality of regulatory policy, including the regulatory impact analysis regime; and monitoring of Crown entities and statutory boards. |
13,018 | 12,268 | 11,326 |
Registration and Granting of Intellectual Property Rights (M13)Administering legislation providing for the protection of intellectual property rights by the granting of patents and plant variety rights, the registration of trademarks and designs. |
13,652 | 12,915 | 14,800 |
Registration and Provision of Statutory Information (M13)Registering and provision of documents and information services in respect of all corporate entities, securities over insurance and superannuation schemes and securities over personal property (excluding land). |
25,120 | 22,474 | 24,112 |
Total Departmental Output Expenses |
67,329 | 63,190 | 65,119 |
Non-Departmental Output Expenses |
|||
Accounting and Assurance Standards Setting (M13)This appropriation is limited to the funding of financial reporting and auditing and assurance standards setting for the purposes of promoting the quality of financial reporting. |
- | - | 1,350 |
Administration of the Takeovers Code (M13)The performance of statutory functions by the Takeovers Panel as specified in the Takeovers Act 1993. |
1,494 | 1,494 | 1,494 |
Enforcement of Dairy Sector Regulation (M13)Commerce Commission funding for dispute resolution relating to and enforcement of the Dairy Industry Restructuring Act 2001 and related regulations. |
905 | 905 | 905 |
Enforcement of General Market Regulation (M13)The promotion of competition and fair trading through the administration, enforcement and adjudication activities undertaken by the Commerce Commission. |
16,435 | 16,435 | 16,435 |
Financial Advisers and Financial Service Providers (M13)This appropriation is limited to the performance of statutory functions by the Securities Commission in its role as regulator of financial advisers and financial service providers. |
- | - | 6,561 |
Input Methodologies (M13)This appropriation is limited to the development, implementation, monitoring and administration of input methodologies relating to regulated businesses as prescribed under Part 4 of the Commerce Act 1986. |
5,224 | 5,113 | 2,612 |
Performance of Securities Market Functions (M13)This appropriation is limited to the performance of statutory functions by the Securities Commission in its role as New Zealand's main regulator of investments and securities. |
10,421 | 10,421 | 6,501 |
Regulation of Airport Services (M13)This appropriation is limited to the regulation of specified airport services provided by Auckland, Wellington and Christchurch International Airports, under Part 4 of the Commerce Act 1986. |
791 | 791 | 875 |
Regulation of Anti-Money Laundering and Countering Financing of Terrorism (M13)This appropriation is limited to the supervision, by the Securities Commission, of the financial sector in relation to anti-money laundering and countering financing of terrorism |
1,920 | 1,920 | 3,255 |
Regulation of Electricity Lines Businesses (M13)This appropriation is limited to the regulation of electricity lines businesses and Transpower under Part 4 of the Commerce Act 1986 and residual administration of the repealed Part 4A of the Commerce Act 1986. |
3,167 | 3,167 | 3,167 |
Regulation of Natural Gas Services (M13)This appropriation is limited to the regulation of natural gas services under Part 4 of the Commerce Act 1986 and ongoing administration of the Part 5 control regime over the gas pipeline services of Powerco and Vector. |
2,700 | 1,657 | 1,100 |
Approval and Review of Financial Reporting Standards (M13)This appropriation is limited to improvements to financial reporting standards. |
1,125 | 1,125 | - |
Total Non-Departmental Output Expenses |
44,182 | 43,028 | 44,255 |
Non-Departmental Other Expenses |
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Commerce Commission Litigation Fund (M13)This appropriation is limited to meeting the direct cost of major litigation activity undertaken by the Commerce Commission arising from its general market or sector specific enforcement activities outside the normal routine or scope of its general litigation activity. |
8,000 | 7,000 | 8,000 |
Contributions to International Organisations (M13)Annual fee for New Zealand's membership of the International Copyright and Patent Union; International Patent Documentation Centre; International Standards Association; International Union for the Protection of New Plant Varieties; and a share of New Zealand's annual subscription and obligations arising from the Basel Convention. |
485 | 485 | 485 |
Securities Commission Litigation Fund (M13)This appropriation is limited to meeting the cost of major litigation activity undertaken by the Securities Commission arising from it carrying out its statutory functions. |
1,370 | 1,370 | 1,370 |
Takeovers Panel Litigation Fund (M13)This appropriation is limited to meeting the cost of major litigation activity undertaken by the Takeovers Panel arising from it carrying out functions under the Takeovers Act 1993 and the Takeovers Code. |
200 | 200 | 200 |
Proceeds of Crime Repayments (M13)This appropriation is limited to refunds and other payments made in relation to revenue collected under the Proceeds of Crime Act 1991. |
54 | 54 | - |
Total Non-Departmental Other Expenses |
10,109 | 9,109 | 10,055 |
Non-Departmental Capital Expenditure |
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Investment in Securities Commission (M13)This appropriation is limited to the Securities Commission's capital requirements for the regulation of the Financial Sector. |
1,110 | 1,110 | 1,230 |
Investment in the Accounting Standards Review Board/External Reporting Board (M13)This appropriation is limited to capital requirements to establish the External Reporting Board |
- | - | 825 |
Investment in Takeovers Panel (M13)This appropriation is limited to the Takeovers Panel's capital requirements to relocate to new premises. |
150 | 150 | - |
Total Non-Departmental Capital Expenditure |
1,260 | 1,260 | 2,055 |
Total Annual and Permanent Appropriations |
122,880 | 116,587 | 121,484 |