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Companies the Crown Holds Shares In

Page updated 21 Sep 2015

These entities are companies under the Companies Act 1993, where the Crown does not fully own the company. The Crown has chosen to be a shareholder in these companies for various reasons.

Mixed Ownership Model Companies

In 2013 the Government completed share offers for 49% of the shares in three electricity companies. This led to the establishment of a new ownership framework, the Mixed Ownership Model (MOM).  MOM companies are governed by Part 5A of the Public Finance Act 1989. 
No person (other than the crown) may have more than 10% holdings or voting interests in a MOM company and the Crown must maintain at least 51% ownership in a MOM company.


For further information refer to the Information Release: Mixed Ownership Model.

Air New Zealand 

The Crown has a majority shareholding of around 53% in Air New Zealand, a publicly listed company. Air New Zealand is not subject to Part 5A of the Public Finance Act 1989.

 

Information on individual Mixed Ownership Model companies is located at Portfolio of Entities: Mixed Ownership Model Companies.

Council-Controlled Trading Organisations

Council-controlled trading organisations are set up by local government to undertake particular activities on their behalf. They are established by the Local Government Act 2002, are registered as public companies and are bound by the provisions of the Companies Act 1993:

  • A council-controlled trading organisation operates with the purpose of making a profit. The level of council ownership is 50% or more, held by either one or more councils.

The Crown owns shares in three airports (Christchurch, Dunedin, Hawke's Bay) which are Council-controlled Trading Organisations.

For further information on Council controlled trading organisations refer to the Local Councils web page

Information on individual Council-Controlled trading organisations is located at Portfolio of Entities: Council-controlled trading organisations.

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