State-Owned Enterprises Act 1986

If you need more information about this Act, please contact the administering agency: The Treasury
13 Powers of shareholding Ministers in respect of new State enterprises


Notwithstanding any other provision of this Act or the rules of any company,—


the shareholding Ministers may from time to time, by written notice to the board, direct the board of a company named in Schedule 2 to include in, or omit from, a statement of corporate intent for that company any provision or provisions of a kind referred to in paragraphs (a) to (h) of section 14(2); and


the shareholding Ministers may, by written notice to the board, determine the amount of dividend payable by any company named in Schedule 2 in respect of any financial year or years,—

and any board to whom such a notice is given shall comply with the notice.


Before giving any notice under this section, the shareholding Ministers shall—


have regard to Part 1; and


consult the board concerned as to the matters to be referred to in the notice.


Within 12 sitting days after a notice is given to a board pursuant to this section, the responsible Minister for the company concerned shall lay a copy of the notice before the House of Representatives.