This file sets the time zone environment variable TZ, and the locale-related environment variables LANG, LC_COLLATE, LC_CTYPE, LC_MESSAGES, LC_MONETARY, LC_NUMERIC, and LC_TIME.
/etc/TIMEZONE is a symbolic link to /etc/default/init.
The number of environments that can be set from /etc/default/init is limited to 20.
When changing the TZ setting on x86 systems, you must make a corresponding change to the /etc/rtc_config file to account for the new timezone setting. This can be accomplished by executing the following commands, followed by a reboot, to make the changes take effect:
# rtc -z zone-name # rtc -c
where zone-name is the same name as the TZ variable setting.
See rtc(1M) for information on the rtc command.