State-owned enterprises of New Zealand

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 of 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.

Function

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 of 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]

List of state enterprises

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 Limited 1991
AsureQuality Limited 2007 ASURE NZ Ltd and AgriQuality Ltd
Electricity Corporation of New Zealand Limited 1986 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 NZ (rolling stock and inter-island ferries) ONTRACK (track and infrastructure) Formerly New Zealand Rail (1990—1995), Tranz Rail (1995—2002), Toll Rail (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
Learning Media Limited 1989 a division of the Ministry of Education
Meteorological Service of New Zealand Limited July 1992 Part of the Ministry of Transport Known as MetService
New Zealand 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 Limited 2005 Valuation NZ
Solid Energy 1 April 1987 State Coal Mines Department Formerly Coal Corporation (or Coalcorp), renamed 1997. In Voluntary Administration
Terralink NZ Limited
Transpower New Zealand 1994 Subsidiary of Electricity Corporation of New Zealand National grid operator

Other state-owned enterprises

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%[3] Largely privatised in 1989, government subsequently bought a 73% stake in 2001, and sold down to 53% in November 2013.
Christchurch International Airport 25%
Crown Asset Management Limited
Crown Fibre Holdings Limited
Dunedin International Airport Limited 1989 50%
Earthquake Commission 1945
FairWay Resolution Limited
Genesis Energy Limited 1999 Part of Electricity Corporation of New Zealand 52.4%[4] 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
Meridian Energy 1999 Part of Electricity Corporation of New Zealand 51.02%[5] Floated on the sharemarket in October 2013.
Mighty River Power 1999 Part of Electricity Corporation of New Zealand 51.76%[6] Floated on the sharemarket in May 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 Limited
Television New Zealand
The New Zealand Institute for Plant & Food Research Limited 1 Dec 2008 HortResearch and Crop and Food Research

Former state-owned enterprises

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

Privatised state-owned enterprises include:[7]

Former, non-SOE state-owned corporations

Other Crown-owned companies

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.

See also

References

  1. 1 2 "List of Entities monitored by the Treasury". The Treasury. 5 January 2016.
  2. ↑ "Schedule 1 - State enterprices". State-Owned Enterprises Act 1986. Parliamentary Counsel Office.
  3. ↑ "Companies Office - Air New Zealand Limited Shareholders". 26 February 2015.
  4. ↑ "Companies Office - Genesis Energy Limited Shareholders". 26 February 2015.
  5. ↑ "Companies Office - Meridian Energy Limited Shareholders". 26 February 2015.
  6. ↑ "Companies Office - Mighty River Power Limited Shareholders". 26 February 2015.
  7. ↑ "State-Owned Enterprises". New Zealand Treasury. 14 August 2014. Retrieved 26 February 2015.

External links and sources

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