Owner's Expectations

This document outlines expectations for the boards of the following companies and entities for which the Treasury provides performance advice to Ministers:

• State-owned enterprises
• Crown entity companies
• Public Finance Act 1989 Schedule 4A companies
• statutory entities
• airport companies in which the Crown has a shareholding.

The document outlines expectations in areas such as board conduct, business planning, reporting, engagement with the Treasury, financial and non-financial performance, and public accountability. 

These expectations relate to the companies and entities for which the Treasury has the primary role in providing advice to Ministers. Companies and entities for which the Treasury has a secondary role should refer to guidance documents issued by their respective monitoring department.

This document replaces the Owner’s Expectations document published in April 2020, and also Owner’s Expectations Manual issued in July 2012 and the brief addendum issued in June 2018. An HTML version of this document is currently being prepared.