Ministers
Page updated 14/12/2011
Ministers are responsible to Parliament for overseeing and managing the Crown’s interests in, and relationships with, the various entities that fall within the Ministers’ portfolios. The table below identifies which Minister is responsible for the entities that the Crown Ownership Monitoring Unit (COMU) monitors.
There are two types of Ministers: Shareholding Ministers and Responsible Ministers.
- Crown-owned companies have Shareholding Ministers. The Minister of Finance is always one Shareholding Minister to ensure that the Crown's economic and financial objectives are considered. The second Minister (the portfolio Minister) has specific responsibility for an individual company or group of companies and generally takes a more active role, particularly in his or her capacity as the formal point of contact with boards.
- Any other companies that the Crown holds some shares in also have Shareholding Ministers.
- Where the entity is not a company, the entity usually has one Responsible Minister, although occasionally there are two Responsible Ministers.
State-Owned Enterprises |
Minister(s) |
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Crown Research Institutes[1](from 1/2/2011 joint responsibility with Ministry of Science & Innovation) |
Minister(s) |
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Other Crown Companies |
Minister(s) |
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Crown entity companies
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Companies listed on the 4th Schedule of the Public Finance Act 1989
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Other Entities |
Minister(s) |
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Statutory Crown Entities |
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Other Statutory Boards
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Other Companies in Which the Crown Holds Shares |
Minister(s) |
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Notes
- [1] The entities are also known as the Crown Financial Institutions (CFIs). All these entities have specific responsibilities relating to the management and investment of significant Crown financial assets. As parts of the CFIs, COMU also monitors the investments of the Accident Compensation Corporation, for which the Department of Labour is the primary monitoring department.
