Hon Trevor Mallard, in Committee, to move the following amendments:
In clause 4, delete subclause (1) (lines 21 and 22 on page 3).
In clause 5, delete subclause (1) (lines 2 and 3 on page 4).
In clause 6, delete subclause (2) (lines 13 and 14 on page 4).
In clause 8, delete subclause (2) (lines 27 and 28 on page 4).
In clause 10, delete subclause (1) (lines 4 and 5 on page 5).
In clause 11, delete subclause (1) (lines 13 and 14 on page 5).
This Supplementary Order Paper amends the Mixed Ownership Model Bill to remove those clauses relating to Genesis Power Limited. The power companies in which this Bill aims to make shares available for sale are all in very different financial circumstances and return different rates of dividend to the Crown. The purpose of this amendment is to consider whether Genesis Power Limited is genuinely one of the companies that should be placed within this Bill to become a mixed ownership model company or whether its status as a strategic asset and economic returns to the Government render it too valuable for the Crown to lose ownership of.