State-Owned Enterprises Act 1986

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Reprint as at 1 October 2020

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
Part 1
Principles
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
Part 2
Formation and ownership of new State enterprises
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
Part 3
Accountability
14Statement of corporate intent
14AShareholding Ministers may grant extension of time for delivery of statement of corporate intent: COVID-19 [Repealed]
15Annual report, financial statements, and dividend
15AExtension of time limit for 2019/20 financial year reports and audits: COVID-19
16Half-yearly reports
16AInformation to be published by boards
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
Part 4
Miscellaneous provisions
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
27ARegistrar-General of Land 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 [Repealed]
32Amendments and transitional provisions relating to new State enterprises
33Repeals [Repealed]
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
[Repealed]
Treaty of Waitangi (State Enterprises) Act 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
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