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.