10. Provisions

Actual
2009
$000
  Actual
2010
$000
456 Provision for onerous leases 484
708 Huntly east provision 594
1,193 Other 1,044
2,357 Total current portion 2,122
9,075 Provision for onerous leases 7,343
15,628 Huntly east provision 10,932
Other 484
24,703 Total non-current portion 18,759
27,060 Total provision 20,881
  Provision for
onerous leases
$000
Huntly east
provision
$000
Other provisions Total
$000
2009
Balance as at 1 July 2008 7,030 14,119 1,622 22,771
Additional provisions made during the year 254 254
Charge against provision for the year (419) (430) (849)
Discounting changes 2,920 2,218 5,138
Unused amounts reversed during the year (1) (253) (254)
Balance as at 30 June 2009 9,531 16,336 1,193 27,060
2009
Balance as at 1 July 2009 9,531 16,336 1,193 27,060
Additional provisions made during the year 447 447
Charge against provision for the year (450) (112) (562)
Discounting changes (1,254) (4,810) (6,064)
Balance as at 30 June 2010 7,827 11,526 1,528 20,881

Provision for onerous leases

LINZ has onerous contract obligations where the unavoidable costs of meeting the contractual obligations exceed the economic benefits expected to be received from it. The provision relates to the lease on 3 The Terrace, Wellington, which expires in 2060.

Huntly East subsidence

The Crown has an obligation to purchase properties affected by mining in the Huntly East area (CAB (97) M 33/7A refers). The Huntly East Subsidence Policy states that if a property is not sold on the open market within six months, the Crown will buy the property from the vendor at current market value. Until all properties have been purchased by the Crown, this policy will continue. Properties purchased by the Crown are covenanted to protect the Crown from future liability then on-sold (generally at a lower value as a result of the covenant on the title).