Owner’s Expectations Manual for Crown Research Institutes

1. INTRODUCTION

This manual outlines shareholding Ministers’ expectations of the directors of Crown research institutes (CRIs). It is designed to help boards to operate efficiently in their roles and to clarify their responsibilities. It also takes account of the particular expectations of board members in companies owned by the Crown, as opposed to private or publicly listed companies.

The manual is not intended to replace the annual Outline of Shareholder Expectations or outlook letters sent by shareholding Ministers at the outset of the annual business planning round. The Outline of Shareholder Expectations outlines expectations regarding the role of CRIs in the science system and their particular activities such as, for example, collaboration and technology transfer. The Owner’s Expectations Manual, on the other hand, does not focus on the operational activities of the CRIs but on the expectations placed on their boards with regard to governance, reporting and their role and responsibilities in general.

This manual and the Outline of Shareholder Expectations should be read in conjunction with relevant legislation such as the Companies Act 1993 (Companies Act), the Crown Entities Act 2004 (CE Act) and the Crown Research Institutes Act 1992 (CRI Act), which place certain obligations on CRIs. This manual should also be read in conjunction with other current expectations and ownership policies previously communicated to CRI boards.

The manual applies only to CRIs and not to state-owned enterprises or other Crown entity companies.

The manual replaces the previous version of the Owner’s Expectations Manual and will be updated periodically as processes, policies and shareholding Ministers’ expectations change.

2. CRI Framework
3. Shareholder Roles and Responsibilities
4. CRI Reporting and Accountability
5. Social Responsibility
6. Financial Governance
7. Shareholder Approval and Strategic Initiatives
8. Board Governance