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2008 Annual Report

NOTE 8   FINANCIAL ASSETS

		2008 $000's	2007 $000's
Loans and Receivables
Current
Cash and cash equivalents		48	95
Term deposits		1,632	1,950
Interest receivable - other		104	113
GST receivable		51	60
Trade and other receivables		2,077	131
Cash and cash equivalents - litigation fund		178	183
Term deposits - litigation fund		650	575
Interest receivable - litigation fund		42	30
Total loans and receivables		4,782	3,137
Financial liabilities at amortised cost:

		2008 $000's	2007 $000's
Trade payables		331	266
Employee entitlements		210	123
		541	389

NOTE 9   INCOME FROM FINANCIAL ASSETS

		2008 $000's	2007 $000's
Loans and Receivables
Interest - other		331	191
Interest - litigation fund		210	49
Total interest income from loans and receivables		541	240

NOTE 10   TRADE AND OTHER RECEIVABLES

		2008 000's	2007 $000's
Trade receivables		2,069	51
Receivables from the Crown		8	80
Interest receivable		146	143
		2,223	274

The Commission filed proceedings against six defendants for insider trading (Securities Commission v Midavia Rail Investments and Other) on 13 October 2004. Subsequently, the Commission reached a settlement agreement with all the defendants. The first settlement of $1,995,910 was approved by the High Court on 29 March 2008 and is expected to be released to the Commission in 2008/09 after a final decision of the High Court regarding taxation, including GST. This is included in Trade Receivables.

The status of trade and other receivables as at 30 June 2008 is as follows:

	Total $000's	Not past due $000's	Up to 30 days past due $000's	Over to 30 days past due $000's
2008
Gross receivables	2,223	2,166	17	40
Impairment	—	—	—	—
	2,223	2,166	17	40
2007
Gross receivables	274	249	7	18
Impairment	—	—	—	—
	274	249	7	18

NOTE 11 PROPERTY, PLANT AND EQUIPMENT

	Office equipment $000's	Office furniture $000's	Leasehold improvements $000's	Library $000's	Motor vehicle $000's	Total $000's
At 1 July 2007
Net of accumulated depreciation	120	185	790	183	29	1,307
Additions	203	46	44	33	64	390
Disposals	—	—	—	—	(24)	(24)
Depreciation charge for the year	(99)	(43)	(142)	(20)	(13)	(317)
At 30 June 2008, net of accumulated depreciation	224	188	692	196	56	1,356
At 30 June 2007
Cost	793	443	1,268	237	64	2,805
Accumulated depreciation	(673)	(258)	(478)	(54)	(35)	(1,498)
Net book value	120	185	790	183	29	1,307
At 30 June 2008
Cost	996	489	1,312	270	64	3,131
Accumulated depreciation	(772)	(301)	(620)	(74)	(8)	(1,775)
Net book value	224	188	692	196	56	1,356
At 1 July 2006
Net of accumulated depreciation	203	225	913	171	42	1,554
Additions	45	6	17	30	—	98
Disposals	—	—	—	—	—	—
Depreciation charge for the year	(128)	(46)	(140)	(18)	(13)	(345)
At 30 June 2007, net of accumulated depreciation	120	185	790	183	29	1,307
At 30 June 2006
Cost	748	437	1,251	207	64	2,707
Accumulated depreciation	(545)	(212)	(338)	(36)	(22)	(1,153)
Net book value	203	225	913	171	42	1,554
At 30 June 2007
Cost	793	443	1,268	237	64	2,805
Accumulated depreciation	(673)	(258)	(478)	(54)	(35)	(1,498)
Net book value	120	185	790	183	29	1,307

NOTE 12 COMPUTER SOFTWARE

		2008 000's	2007 $000's
Gross carrying amount		140	124
Accumulated amortisation		(115)	(96)
Net carrying amount		25	28
		2008 $000's	2007 $000's
Opening accumulated amortisation		(96)	(77)
Amortisation		(19)	(19)
Closing accumulated amortisation		(115)	(96)
		2008 $000's	2007 $000's
Opening net carrying amount		28	33
Additions		16	14
Amortisation		(19)	(19)
Closing net carrying amount		25	28

NOTE 13 TRADE AND OTHER PAYABLES

		2008 $000's	2007 $000's
Trade payables		331	266
Employee entitlements		210	123
		541	389