New Zealand Legislation: Acts

5 Directions and advice to AgriQuality Limited by shareholding Ministers

• (1) The shareholding Ministers may, by written notice to the Board, give to the Board—

  • (a) a direction that AgriQuality Limited must not provide the examination services specified in the notice:

  • (b) a direction that revokes a direction given under paragraph (a).

  (2) The shareholding Ministers—

  • (a) may, at any time, by written notice to the Board, advise the Board of their intentions or expectations with regard to directions to be given under subsection (1); and

  • (b) must advise the Board, by written notice to the Board, of the matters to be referred to in a direction to be given under subsection (1) at least 14 days before the direction is given; and

  • (c) must consider any comments relating to the direction that the Board makes to them within 10 days of the date on which the Board receives the advice under paragraph  (b).

  (3) The shareholding Ministers may give a direction under subsection (1) or advice under subsection (2) despite anything to the contrary in sections 4 to 7 of the State-Owned Enterprises Act 1986, the Companies Act 1993, the Commerce Act 1986, or any other Act or rule of law.

  (4) The giving of a direction under subsection (1) or advice under subsection (2) is specifically authorised for the purpose of section 43 of the Commerce Act 1986.

  (5) The Minister for State Owned Enterprises must—

  • (a) present a copy of the direction to the House of Representatives within 12 sitting days after a direction is given to the Board under subsection (1); and

  • (b) publish a copy of it in the Gazette as soon as practicable after the giving of the direction.