Public Finance (Removal of Crown Entity Status – Wellington International Airport Limited) Order 1998

1998/433

Public Finance (Removal of Crown Entity Status – Wellington International Airport Limited) Order 1998

Michael Hardie Boys, Governor-General

Order in Council

At Wellington this 7th day of December 1998

Present:
His Excellency the Governor-General in Council

Pursuant to sections 3A(1)(d) and 3A(1)(e) of the Public Finance Act 1989, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, makes the following order.

Order

1 Title and commencement
  • (1) This order may be cited as the Public Finance (Removal of Crown Entity Status – Wellington International Airport Limited) Order 1998.

    (2) This order comes into force on 11 December 1998.

2 Removal of Crown entity status
  • Schedules 4 and 6 of the Public Finance Act 1989 are amended by omitting the name Wellington International Airport Limited wherever it occurs.

Marie Shroff,
Clerk of the Executive Council.


Explanatory Note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on 11 December 1998, removes Wellington International Airport Limited from Schedule 4 and Schedule 6 of the Public Finance Act 1989.

The effect of this order is that Wellington International Airport Limited is no longer a Crown entity for the purposes of the Public Finance Act 1989. The order results from the sale by the Crown of its shares in the company.

Section 3A(3) of the Public Finance Act 1989 provides that an Order in Council removing a company from Schedule 4 of the Act can be made only if the Governor-General is satisfied, at the time the order is made, that at least 50% of the issued ordinary shares in the capital of the company are no longer held by the Crown.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 10 December 1998.

This order is administered in the Treasury.