State-Owned Enterprises Act 1986

Reprint as at 1 December 2014

Coat of Arms of New Zealand

State-Owned Enterprises Act 1986

Public Act
 
1986 No 124
Date of assent
 
18 December 1986
Commencement
 
see section 1
Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Treasury.

Contents

Title
1Short Title and commencement
2Interpretation
3Act to bind the Crown
4Principal objective to be successful business
5Directors and their role
6Responsibility of Ministers
7Non-commercial activities
8Application of Employment Relations Act 2000
9Treaty of Waitangi
10Ministers may hold shares and equity bonds in new State enterprises
10APower to add to Schedules 1 and 2 by Order in Council
11Ministers to hold all shares in new State enterprises
12State enterprise equity bonds
13Powers of shareholding Ministers in respect of new State enterprises
14Statement of corporate intent
15Annual report, financial statements, and dividend
16Half-yearly reports
17Information to be laid before House of Representatives
18Other information
19Auditor-General to be auditor of State enterprises and subsidiaries
20Protection from disclosure of sensitive information
21Saving of certain transactions
22Provisions relating to Ministers’ shareholding
23Transfer of Crown assets and liabilities to State enterprises
24Provisions relating to transfer of land
25Title to land
26Land certification
26ACertification of easements
27Maori land claims
27ADistrict Land Registrar to register necessary memorial
27BResumption of land on recommendation of Waitangi Tribunal
27CResumption of land to be effected under Public Works Act 1981
27DResumption of wahi tapu
28Orders in Council relating to transfer of assets and liabilities
29Interpretation relating to transfer of assets and liabilities
29AFurther provision relating to transfer of Crown assets and liabilities
30Application of Companies Acts to new State enterprises
30AChanges of name
31Review of Ombudsmen Act 1975 and Official Information Act 1982 in relation to State enterprises
32Amendments and transitional provisions relating to new State enterprises
33Repeals
[Repealed]
Reprint notes

An Act to promote improved performance in respect of Government trading activities and, to this end, to—

(a)

specify principles governing the operation of State enterprises; and

(b)

authorise the formation of companies to carry on certain Government activities and control the ownership thereof; and

(c)

establish requirements about the accountability of State enterprises, and the responsibility of Ministers