Reprint as at 1 December 2014

State-Owned Enterprises Act 1986

Public Act1986 No 124
Date of assent18 December 1986
Commencementsee 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

1 Short Title and commencement

2 Interpretation

3 Act to bind the Crown

Part 1
Principles

4 Principal objective to be successful business

5 Directors and their role

6 Responsibility of Ministers

7 Non-commercial activities

8 Application of Employment Relations Act 2000

9 Treaty of Waitangi

Part 2
Formation and ownership of new State enterprises

10 Ministers may hold shares and equity bonds in new State enterprises

10A Power to add to Schedules 1 and 2 by Order in Council

11 Ministers to hold all shares in new State enterprises

12 State enterprise equity bonds

13 Powers of shareholding Ministers in respect of new State enterprises

Part 3
Accountability

14 Statement of corporate intent

15 Annual report, financial statements, and dividend

16 Half-yearly reports

17 Information to be laid before House of Representatives

18 Other information

19 Auditor-General to be auditor of State enterprises and subsidiaries

20 Protection from disclosure of sensitive information

Part 4
Miscellaneous provisions

21 Saving of certain transactions

22 Provisions relating to Ministers' shareholding

23 Transfer of Crown assets and liabilities to State enterprises

24 Provisions relating to transfer of land

25 Title to land

26 Land certification

26A Certification of easements

27 Maori land claims

27A District Land Registrar to register necessary memorial

27B Resumption of land on recommendation of Waitangi Tribunal

27C Resumption of land to be effected under Public Works Act 1981

27D Resumption of wahi tapu

28 Orders in Council relating to transfer of assets and liabilities

29 Interpretation relating to transfer of assets and liabilities

29A Further provision relating to transfer of Crown assets and liabilities

30 Application of Companies Acts to new State enterprises

30A Changes of name

31 Review of Ombudsmen Act 1975 and Official Information Act 1982 in relation to State enterprises

32 Amendments and transitional provisions relating to new State enterprises

33 Repeals

Schedule 1
State enterprises

Schedule 2
New State enterprises

Schedule 2A
Modifications of provisions of Public Works Act 1981 applicable to acquisition of land pursuant to recommendation of Waitangi Tribunal

Schedule 3
Enactments amended

Schedule 4
Transitional provisions

Schedule 5
Amendments to Coal Mines Act 1979

[Repealed]

Schedule 6
Enactments repealed

Treaty of Waitangi (State Enterprises) Act 1988

Finance Act (No 2) 1988

Post Office Bank Amendment Act 1988

Finance Act 1990

State-Owned Enterprises Amendment Act (No 2) 1990

State-Owned Enterprises Amendment Act (No 3) 1990

Finance Act 1991

State-Owned Enterprises Amendment Act 1992

Finance Act 1994

State-Owned Enterprises Amendment Act 1996

State-Owned Enterprises (Meteorological Service of New Zealand Limited and Vehicle Testing New Zealand Limited) Amendment Act 1999

Cadastral Survey Act 2002

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