Territory Stories

Annual Report 2021–2022, Power and Water Corporation

Details:

Title

Annual Report 2021–2022, Power and Water Corporation

Other title

Tabled Paper 708

Collection

Tabled Papers for 14th Assembly 2020 -; Tabled Papers; ParliamentNT

Date

2022-11-23

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

Publisher name

Legislative Assembly of the Northern Territory

Place of publication

Darwin

File type

application/pdf

Use

Copyright

Copyright owner

Legislative Assembly of the Northern Territory

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/893266

Citation address

https://hdl.handle.net/10070/893267

Page content

Annual Report 2021-2022 93 Page 42 of 60 Power and Water Corporation Notes to the financial statements for the year ended 30 June 2022 11 Investment in subsidiaries June 2022 June 2021 June 2022 June 2021 $ $ $ $ Indigenous Essential Services Pty Limited - - 10 10 - - 10 10 Details of the consolidated entity's subsidiaries at the end of the reporting period are as follows: Name of subsidiary June 2022 June 2021 BGP Tenure Holdings Pty Limited 50% 50% Indigenous Essential Services Pty Limited 100% 100% PPrriinncciippaall aaccttiivviittiieess ooff tthhee ssuubbssiiddiiaarriieess Indigenous Essential Services Pty Limited BGP Tenure Holdings Pty Limited DDeettaaiillss ooff nnoonn--ccoonnttrroollll iinngg iinntteerreessttss iinn ssuubbssiiddiiaarriieess June 2022 June 2021 $ $ Non-current assets 100 100 Equity 100 100 Equity attributable to the Corporation - Corporation 50 50 - Non-controlling interests 50 50 CChhaannggee iinn tthhee ccoonnssoolliiddaatteedd eennttiittyy''ss oowwnneerrsshhiipp iinntteerreesstt iinn aa ssuubbssiiddiiaarryy Equity InterestPlace of incorporation and operation Australia Australia Corporation BGP Tenure Holdings Pty Limited is a non-trading entity and as such did not make a profit for the year ended 30 June 2022 (2021: $Nil). The Corporation owns 50% of the shares in BGP Tenure Holdings Pty Limited with the remaining 50% held by non-controlling interests. The relevant activities of the BGP Tenure Holdings Pty Limited are determined by the Board of Directors of BGP Tenure Holdings Pty Limited. The Board of Directors of BGP Tenure Holdings Pty Limited consists of two members, of which one of the positions is held by an individual nominated by the Corporation. BGP Tenure Holdings Pty Limited was established in February 2008 to hold land tenure interests for the Corporation in the Bonaparte Gas Pipeline project in the Northern Territory. Its central office is based in Sydney. The principal activities of Indigenous Essential Services Pty Limited as a not-for-profit entity are to provide electricity, water and sewerage services to remote Indigenous communities in the Northern Territory. The parent entity within the consolidated entity is Power and Water Corporation. The ultimate Australian parent entity is the Northern Territory Government which at 30 June 2022 owned 100% (2021: 100%) of the issued ordinary shares of Power and Water Corporation. This share is held by the Shareholding Minister on behalf of the Northern Territory. Summarised financial information in respect of BGP Tenure Holdings Pty Limited that have non-controlling interests is set out below. There have been no changes in the ownership interests held by the consolidated entity in any of its subsidiaries during the year ended 30 June 2022 (2021: Nil). Consolidated Corporation


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