Page updated 15 Aug 2011
Overview of information about state-owned enterprises (SOEs) on the Treasury web site, Treasury guidance and instructions that is targeted at SOEs and the Treasury's role in monitoring the performance of SOEs.
State-Owned Enterprises (SOEs) are owned by the Crown but operate as commercial businesses. They were set up by the State-Owned Enterprises Act 1986, are registered as public companies and are bound by the provisions of the Companies Act. SOEs are distinguished from other kinds of Crown entities and structured as companies because they provide services directly to the public through market transactions, i.e. the quality and quantity of services provided and their prices are determined through the market.
The Treasury's Role
The board of directors of an SOE are accountable to the shareholding Ministers for the performance of that SOE (each SOE has two shareholding Ministers - one is the Minister of Finance and the other is the relevant portfolio Minister). The Crown Ownership Monitoring Unit (COMU) is a unit within the Treasury and provides shareholding Ministers with advice on the performance of the SOE. The Treasury also provides advice to the Ministers of Finance as a shareholding Minister.
A list of SOEs and information on the Crown’s financial interest in each SOE is available in the Financial Statements of the Government of New Zealand for the Year Ended 30 June 2010 in the section: Information on SOEs and Crown Entities.
More detailed information the activities of SOEs can be found in the Statement of Corporate Intent and Annual Report for each SOE which should be available on their respective websites.
Related Information on the Treasury Web Site
- Asset Sales - Historical Information - Not updated since September 1999.
- Equity Analyst Valuation Reports on Genesis Energy, Meridian Energy and Mighty River Power