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 2012/13 financial year covering the following:
- a total of just over $11 million for policy advice on the effective and low-cost regulation of economic activity, remedies to prevent injury caused by subsidised imports, administration of exemptions from import duties, services to support the Minister, and monitoring the performance and compliance of Crown Entities
- a total of just under $38 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 $64 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 just under $13 million for the cost of major litigation undertaken by the Commerce Commission, the Financial Markets Authority and the Takeovers Panel
- a total of just under $500,000 for membership of various international organisations, and
- a total of $500,000 for the Statutory Management of Aorangi Securities.
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
| 2011/12 | 2012/13 | ||
|---|---|---|---|
| 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. |
13,750 | 13,750 | 13,173 |
Administration of Part II Tariff Concessions (M13)Assessing applications by importers to be exempted from import duties under the tariff concessions policy. |
352 | 304 | 352 |
Business Law and Competition Operational Policy, Ministerial Servicing and Crown Entity Monitoring (M13)This appropriation is limited to the development of operational policies in relation to financial sector legal frameworks, competition law and corporate governance, intellectual property, technical barriers to trade, trade rules remedies and tariffs, rules of origin, and other border issues, services to support the Minister, monitoring the performance and compliance of Crown Entities, and providing support and monitoring of statutory bodies. |
- | - | 2,092 |
Policy Advice - Business Law and Competition Policy (M13)This appropriation is limited to the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters. |
- | - | 7,726 |
Policy Advice and Investigative Services - Regulatory Environment MCOA (M13) |
12,214 | 11,407 | 1,084 |
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. |
1,100 | 1,021 | 1,084 |
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. |
11,114 | 10,386 | - |
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. |
14,760 | 14,655 | 14,104 |
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). |
23,621 | 21,834 | 23,396 |
Total Departmental Output Expenses |
64,697 | 61,950 | 61,927 |
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. |
4,410 | 4,410 | 4,410 |
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 and Auditing of Milk Price Setting (M13)This appropriation is limited to funding for reviewing Fonterra's milk price setting arrangements, and dispute resolution relating to and enforcement of the Dairy Industry Restructuring Act 2011 and related regulations. |
700 | 700 | 1,245 |
Enforcement of General Market Regulation (M13)This appropriation is limited to the promotion of fair trading and competitive markets through the administration, enforcement and adjudication activities of the Commerce Commission, and the internal costs of major litigation undertaken by the Commerce Commission in relation to all of its statutory functions. |
18,073 | 18,073 | 16,435 |
Licensing and Supervision of Market Participants (M13)This appropriation is limited to the performance of statutory functions relating to regulation of financial market participants, including issuers, market licensees, intermediaries and exchanges, and financial advisers and qualifying financial entities (QFEs). |
11,688 | 11,688 | 12,256 |
Performance of Financial Markets Monitoring Functions (M13)This appropriation is limited to the performance of statutory functions relating to monitoring of financial and securities markets, including the provision of investor education, the granting of exemptions, and other General Counsel duties. |
6,837 | 6,837 | 6,237 |
Performance of Investigation and Enforcement Functions (M13)This appropriation is limited to the performance of statutory functions relating to the investigation and enforcement of financial markets and securities markets law. |
5,749 | 5,749 | 6,968 |
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. |
400 | 400 | 1,019 |
Regulation of Auditors (M13)This appropriation is limited to the oversight and regulation of professional accounting bodies, auditing firms and auditors for the purpose of promoting audit quality. |
400 | 400 | 600 |
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. |
5,060 | 5,060 | 5,744 |
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. |
2,900 | 2,900 | 2,156 |
Retirement Commissioner (M13)This appropriation is limited to services from the Retirement Commissioner to develop and promote methods of improving the effectiveness of retirement income policies, through the publishing of information and the delivery of a comprehensive public financial education programme. |
5,782 | 5,782 | 5,782 |
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. |
205 | 205 | - |
Indemnity payments from the Corporations (Investigations and Management) Act 1989 PLA (M13)This appropriation is limited to payments made under Section 63 of the Corporations (Investigation and Management) Act 1989. |
105 | 105 | - |
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. |
610 | 610 | - |
Total Non-Departmental Output Expenses |
64,413 | 64,413 | 64,346 |
Non-Departmental Other Expenses |
|||
Commerce Commission Litigation Fund (M13)This appropriation is limited to meeting the external direct costs of major litigation activity undertaken by the Commerce Commission arising from its general market or sector specific activities. |
6,953 | 6,953 | 10,790 |
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 |
Financial Markets Authority Litigation Fund (M13)This appropriation is limited to meeting the cost of major litigation activity arising from the enforcement of financial markets and securities markets law. |
2,500 | 2,500 | 2,000 |
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 |
Total Non-Departmental Other Expenses |
10,138 | 10,138 | 13,475 |
Non-Departmental Capital Expenditure |
|||
Statutory Management - Aorangi Securities Limited and Others (M13)This appropriation is limited to the provision of services by the statutory managers and others within the scope of section 66(1) of the Corporations (Investigation and Management) Act 1989. |
1,000 | 1,000 | 500 |
Investment in the Accounting Standards Review Board/External Reporting Board (M13)This appropriation is limited to capital requirements to establish the External Reporting Board |
460 | 460 | - |
Investment in the Financial Markets Authority (M13)This appropriation is limited to meeting the cost of capital requirements for the regulation of investment and securities markets and the financial industry. |
5,000 | 5,000 | - |
Total Non-Departmental Capital Expenditure |
6,460 | 6,460 | 500 |
Total Annual and Permanent Appropriations |
145,708 | 142,961 | 140,248 |