Version as at 1 July 2024 Crown Entities Act 2004 Part 4 s 139 Section 136(1) financial year paragraph (a): replaced, on 1 August 2020, by section 668 of the Education and Training Act 2020 (2020 No 38). Section 136(1) generally accepted accounting practice: replaced, on 1 April 2014, by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102). Section 136(1) next Budget day: inserted, on 1 July 2014, by section 47(2) of the Crown Entities Amendment Act 2013 (2013 No 51). Section 136(1) pre-Budget period: inserted, on 1 July 2014, by section 47(2) of the Crown Entities Amendment Act 2013 (2013 No 51). Section 136(1) registered bank: amended, on 1 July 2022, by section 300(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31). Section 136(1) reportable class of outputs: inserted, on 1 July 2014, by section 47(2) of the Crown Entities Amendment Act 2013 (2013 No 51). Section 136(1) security: repealed, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). Subpart 2—Reporting obligations 137 Application of this subpart (1) This subpart applies in respect of financial years commencing on or after 1 January 2006. (2) Subsection (1) is subject to section 198. Planning: statement of intent 138 Purpose of statement of intent The purpose of a statement of intent is to promote the public accountability of a Crown entity by— (a) enabling the Crown to participate in the process of setting the Crown entity’s strategic intentions and medium-term undertakings: (b) setting out for the House of Representatives those intentions and under‐ takings: (c) providing a base against which the Crown entity’s actual performance can later be assessed. Section 138(a): amended, on 1 July 2014, by section 48 of the Crown Entities Amendment Act 2013 (2013 No 51). 139 Obligation to prepare statement of intent (1) A Crown entity must provide to its responsible Minister a statement of intent for the Crown entity that complies with this section and section 141. (2) A statement of intent must relate to the forthcoming financial year and at least the following 3 financial years. (3) The Crown entity must provide a statement of intent at least once in every 3-year period. 67