Initial Position Paper: Temporary Waiver for Licensed Fish Receiver Audit Report Requirements - Regulatory measure for October 2007
The Ministry of Fisheries (MFish) is consulting on a proposal to allow the Chief Executive to issue temporary waivers of up to two years to the requirement that Licensed Fish Receivers (LFR) supply annual audit reports.
If approved, regulatory measures to enact the proposal would take effect on 1 October
2007.
Executive Summary
- LFRs are currently required to furnish an annual audit report.
- Some LFRs furnish identical or similar reports each year that reflect relatively
static business operations and are generally compliant with LFR requirements.
It is proposed that such LFRs could apply for a temporary waiver to the
requirement to supply an annual audit report.
- An LFR will be eligible to apply for a temporary annual audit waiver if the
LFR is compliant with applicable Recordkeeping and Reporting Regulations
during at least the last two consecutive years and if they have supplied at least
two annual audit reports.
- The temporary waiver will only apply to the furnishing of annual audit reports
and will not apply to any other reports or returns LFRs must supply such as
the annual inventory return which will still need to be provided to MFish.
- MFish recommends that the Fisheries (Reporting) Regulations 2001 be
amended to allow the Chief Executive to issue temporary waivers of up to two
years to the requirement that LFRs supply annual audit reports.
MFish welcomes written submission on the proposal contained within the IPP. Written submissions are due by Monday, 16 April 2007 and should be posted to Tracey Steel, Ministry of Fisheries, PO Box 1020, Wellington. Alternatively, electronic submissions can be emailed to tracey.steel@fish.govt.nz.
Download Temporary Waiver For Licensed Fish Receiver (LFR) Audit Report Requirements (PDF 44kb)
Download Letter to Stakeholders on Initial Position Paper (PDF 16kb)