Statement of Contingent Liabilities as at 30 June 2003
Quantifiable contingent liabilities of the Ministry are as follows:
| 2003 | 2002 |
| Actual | Actual |
| $000 | $000 |
| | |
| Legal proceedings | 100 | 250 |
| Personal grievances | 160 | 95 |
| Total Quantifiable Contingent Liabilities | 260 | 345 |
Legal Proceedings
From time to time the Ministry, because of its various responsibilities, is required to make legal interpretations that result in possible legal proceedings. Currently one proceeding involves potential liability for the Ministry. The potential claim is a treaty based legal challenge to radio spectrum sales.
The estimated maximum financial effect is $100,000.
At this stage any actions taken against the Ministry are believed to have a remote chance of success and there is no indication of if, or when, any payments might be made.
There is no likelihood of reimbursement in the proceedings.
This statement is to be read in conjunction with the Statement of Accounting Policies and Notes to the Financial Statements.
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