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New Zealand Crown companies From Wikipedia, the free encyclopedia
State-owned enterprises (SOEs) in New Zealand are registered companies listed under Schedules 1 and 2 of the State-Owned Enterprises Act 1986. Most SOEs are former government departments or agencies that were corporatised. They are responsible to the Minister for State Owned Enterprises.
Many other government-owned companies and statutory trading organisations are referred to informally as "state-owned enterprises" although they are not SOEs in the strictest sense. These are also listed here.
The function of SOEs is to operate successfully as a business, as profitable as those not owned by the Crown. The section of the Act defining this is usually interpreted as meaning that SOEs are expected to ready themselves for privatisation, though this is not always the case.
Two Ministers of the Crown act as the shareholding ministers in the company. In the case of SOEs these are usually the Minister for State Owned Enterprises (see article for list) and the Minister responsible for the particular company.
The Crown is assisted in the running of SOEs and other Crown-owned companies by the Treasury's Commercial Operations group (formerly the Crown Ownership Monitoring Unit).[1]
The state enterprises are listed in Schedule 1 of the State-owned Enterprises Act.[2]
Name | Date created | Formerly | Notes |
---|---|---|---|
Airways New Zealand | 1 April 1987 | Part of the Ministry of Transport | Air traffic control and air navigation providers |
Animal Control Products | 1991 | ||
AsureQuality | 2007 | ASURE NZ Ltd and AgriQuality Ltd | |
Electricity Corporation of New Zealand | 1 April 1987[3] | NZE, NZED, State Hydro Department | Shell of previous electricity utility. Assets transferred to Contact, Genesis, Meridian, Mighty River |
KiwiRail Holdings Limited | 1 July 2008 | Toll New Zealand (rolling stock and inter-island ferries) Ontrack (track and infrastructure) | Formerly New Zealand Rail (1990–1995), Tranz Rail (1995–2002), Toll New Zealand (2002–2008) |
Kordia | 1 July 1989 | Subsidiary of Television New Zealand | Formerly Broadcast Communications Limited or BCL, renamed 2006. |
Landcorp | 1 April 1987 | Commercial arm of Department of Survey and Land Information | |
MetService | July 1992 | Part of the Ministry of Transport | Known as MetService |
NZ Post | 1 April 1987 | New Zealand Post Office | Telecom New Zealand, PostBank split off 1987. |
New Zealand Railways Corporation | 31 December 2012 | Owns the land underneath KiwiRail's network | |
Quotable Value | 2005 | Valuation NZ | Property valuation, particularly for local authority rating purposes |
Transpower New Zealand | 1994 | Subsidiary of Electricity Corporation of New Zealand | National grid operator |
The following table lists entities that are monitored by Treasury, but are not state enterprises (see table above).[1] For a more complete list of government entities and organisations, see Public sector organisations in New Zealand.
Name | Date created | Formerly | Government ownership |
Notes | ||||
---|---|---|---|---|---|---|---|---|
Accident Compensation Corporation | ||||||||
AgResearch | 1992 | Ministry of Agriculture and Fisheries, DSIR | ||||||
Air New Zealand | 1 April 1965 | Tasman Empire Airways Limited, National Airways Corporation | 51.95%[4] | Largely privatised in 1989, government subsequently bought a 73% stake in 2001, and sold down to 53% in November 2013. | ||||
Christchurch Airport | 25% | 75% owned by Christchurch City Council[5] | ||||||
Crown Asset Management Limited | ||||||||
Crown Fibre Holdings Limited | ||||||||
Dunedin Airport | 1989 | 50% | ||||||
Earthquake Commission | 1945 | |||||||
Genesis Energy Limited | 1999 | Part of Electricity Corporation of New Zealand | 52.4%[6] | Floated on the sharemarket April 2014. | ||||
Government Superannuation Fund Authority | ||||||||
Guardians of New Zealand Superannuation | ||||||||
Hawke's Bay Airport Limited | ||||||||
Housing New Zealand Corporation | ||||||||
Institute of Environmental Science and Research Limited | 1992 | DSIR | ||||||
Institute of Geological & Nuclear Sciences Limited | 1992 | DSIR | ||||||
Landcare Research New Zealand Limited | ||||||||
Mercury Energy | 1999 | Part of Electricity Corporation of New Zealand | 51.15%[7] | Floated on the sharemarket in May 2013. | ||||
Meridian Energy | 1999 | Part of Electricity Corporation of New Zealand | 51.02%[8] | Floated on the sharemarket in October 2013. | ||||
National Institute of Water & Atmospheric Research Limited | ||||||||
National Provident Fund | ||||||||
Network for Learning Limited | ||||||||
New Zealand Forest Research Institute Limited | ||||||||
New Zealand Local Government Funding Agency | ||||||||
New Zealand Lotteries Commission | ||||||||
New Zealand Venture Investment Limited | ||||||||
Public Trust | ||||||||
Radio New Zealand | ||||||||
Research and Education Advanced Network New Zealand Limited | ||||||||
Southern Response Earthquake Services Limited | ||||||||
Tamaki Redevelopment Company | ||||||||
Television New Zealand | ||||||||
The New Zealand Institute for Plant & Food Research Limited | 1 December 2008 | HortResearch and Crop and Food Research |
Former state-owned enterprises come in three forms – those removed from the Schedules of the Act and made Crown entities, those removed and not privatised, and those removed and privatised. Well-known SOEs that became Crown entity companies include broadcasting companies Television New Zealand (TVNZ) and Radio New Zealand (RNZ).
Privatised state-owned enterprises include:[9]
This section needs expansion. You can help by adding to it. (June 2007) |
Other, non-SOE Crown-owned companies are the Crown entity companies. These are the Crown Research Institutes (CRIs), the broadcasting companies Television New Zealand Limited (TVNZ) and Radio New Zealand Limited (RNZ), and the New Zealand Venture Investment Fund Limited.
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