Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Greater Wellington welcomes High Court decision

13 July 2004

Greater Wellington welcomes High Court decision on Wellington Regional Stadium Trust

The Greater Wellington Regional Council has welcomed the decision of the High Court upholding the charitable status of the Wellington Regional Stadium Trust.

The court found that the dominant purpose of the Stadium Trust is not to make a profit, but to provide a successful multi-purpose sporting and cultural venue for the benefit of the region. In technical terms, the court agreed that the Stadium Trust was not a ‘council controlled trading organisation’ under the Local Government Act 2002.

“The decision of the court is common sense, and good news for the region”, said Margaret Shields, Chairperson of Greater Wellington Regional Council. “We didn’t fund the stadium in order to make money, we funded it to provide an essential recreational and cultural facility for the region.”

Ms Shields said that the decision removed the current threat that the Regional Stadium Trust would have its income tax exemption withdrawn, and require the City and Regional Council to charge interest on their advances to the Trust.

“Taxing the Stadium’s profits and charging interest would undermine its ability to repay its loans and to operate as a going concern. From the start the goal of the City and Regional Councils’ was to establish the Trust on a businesslike basis, and to ensure that it was financially stable. That means any ‘profits’ being reinvested in debt reduction and operational improvements.”

Ms Shields said that the wisdom of the decision is well summed up in the judges finding that the profits the stadium makes are “a means to an end, namely to enable the stadium to operate as a going concern, not an end in themselves”.

“I hope this is an end to the matter, and allows the trust to focus on the important business of successfully running the Stadium for the benefit of the region,” said Ms Shields.


ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news