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SCHEDULE OF TRUST MONEY ADMINISTERED ON BEHALF OF THE CROWN

for the year ended 30 June 2015

MV Rena settlement trust

This Trust was established to hold settlement proceeds paid to the Crown by the insurer of the MV Rena. The settlement proceeds were fully distributed in the year ended 30 June 2014.

Schedule of trust money

The schedule shows the opening and closing balance of the trust, and movements during the year.

Under the Public Finance Act 1989, and by delegation from the Secretary to the Treasury, trust money can only be invested on deposit with New Zealand registered banks or in New Zealand government stock. Trust money is also managed so there is no significant concentration of credit risk. Interest rate risk is managed by investing across a wide range of maturity dates, but subject to liquidity requirements.

Actual 2013/14
$000

 

Actual 2014/15
$000

27,954

Balance at 1 July

-

-

Contributions

-

(28,206)

Distributions

-

252

Interest revenue

-

-

Balance at 30 June

-

 

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