Shareholders
A key principle for Crown companies is the separation and maintenance of a clear division between the Government's different interests as they relate to a company, namely:
- ownership,
- purchasing,
- regulatory.
This separation enables Ministers to make decisions on the mix and relative priority of the various policy goals.
Each Crown company has two shareholding Ministers, each of whom holds 50% of the company's shares (the major exception is airport companies, where this role is often shared with other parties, usually local authorities).
The Minister of Finance is always one shareholding Minister to ensure that the Crown's economic and financial objectives are considered appropriately. From time to time, the Minister of Finance may delegate some of his or her responsibilities to an associate (or deputy) Minister of Finance.
In practice the second 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.
The shareholding Ministers for the Crown companies that COMU monitors are shown below.
Shareholding Ministers of Crown Companies
| Entity |
Minister of Finance
+ the following Minister |
| State-owned enterprises |
Minister for State Owned Enterprises
|
|
Airways Corporation of New Zealand Ltd
AsureQuality Ltd
Electricity Corporation of New Zealand Ltd
Genesis Power Ltd
Landcorp Farming Ltd
Meridian Energy Ltd
Meteorological Service of New Zealand Ltd
Mighty River Power Ltd
New Zealand Post Ltd
ONTRACK
Quotable Value Ltd
Solid Energy New Zealand Ltd
Timberlands West Coast Ltd
Kordia Group Ltd
Transpower New Zealand Ltd |
|
| Animal Control Products Ltd |
Minister of Agriculture
|
|
Learning Media Ltd |
Minister of Education |
| Crown research institutes |
Minister of Research, Science & Technology
|
|
AgResearch Ltd
Industrial Research Ltd
Institute of Environmental Science & Research Ltd
Institute of Geological & Nuclear Sciences Ltd
Landcare Research New Zealand Ltd
National Institute of Water & Atmospheric Research Ltd
New Zealand Forest Research Institute Ltd
The New Zealand Institute for Plant & Food Research Ltd |
|
| Crown
entity companies |
|
| New Zealand Venture Investment Fund Ltd |
Minister for Economic Development
|
| Radio New Zealand Ltd |
Minister of Broadcasting
|
| Television New Zealand Ltd |
Minister of Broadcasting
|
| Companies partially owned by the Crown |
Minister for State Owned Enterprises
|
| Christchurch International Airport Ltd |
|
| Dunedin International Airport Ltd |
|
| Hawke's Bay Airport Ltd |
|
| Invercargill Airport Ltd |
|
| Statutory entities |
|
| New Zealand Lotteries Commission |
Minister of Internal Affairs
|
| Public Trust |
Minister of Justice |
| Other entities |
|
| Pacific Forum Line Ltd |
Minister of Foreign Affairs
(the Minister of Finance is not a shareholder)
|
| Research and Education
Advanced Network New Zealand Ltd |
Minister of Research, Science & Technology |
Biographical details on each Minister can be found through the following links.
