Annual Report 2011 / 12 - New Zealand Trade and Enterprise

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NEW ZEALAND TRADE AND ENTERPRISE ANNUAL REPORT 2011/12
Other statutory
reporting requirements
Ministerial directions
(Sections 114 and 115 Crown Entities Act 2004)
No directions were given to NZTE in writing by a
Minister under any enactment during the year ended
30 June 2012.
Enforcement of Acts
(Section 20(3) Crown Entities Act 2004)
No natural person acts were enforced against NZTE in
reliance on section 20 of the Crown Entities Act 2004
during the year ended 30 June 2012.
Employee remuneration
The table opposite shows the number of NZTE
employees who received remuneration and/or benefits
(excluding redundancy and cessation payments) of
$100,000 or more during the year ended 30 June 2012.
The total remuneration paid to international locally
engaged overseas employees has been converted to
New Zealand dollars, based on the average exchange rate
during the year ended 30 June 2012.
During the year ended 30 June 2012, 11 domestic and
expatriate employees received cessation payments
totalling $851,185. This includes two employees who
had redundancy provisions based on NZTE’s expired
1988 terms and conditions. The value of their combined
redundancy payments was $622,308.
1 employee was paid a payment in lieu of notice that
exceeded the notice provision in their employment
agreement. The additional amount paid over their
employment agreement entitlement was $7,459.
During the year ended 30 June 2012, 3 international
locally engaged employees received cessation payments
totalling NZ$139,256.