List of state-owned enterprises of New Zealand

Last updated

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.

Contents

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 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]

List of state enterprises

The state enterprises are listed in Schedule 1 of the State-owned Enterprises Act. [2]

NameDate createdFormerlyNotes
Airways New Zealand 1 April 1987Part of the Ministry of Transport Air traffic control and air navigation providers
Animal Control Products 1991
AsureQuality 2007ASURE NZ Ltd and AgriQuality Ltd
Electricity Corporation of New Zealand 1 April 1987 [3] NZE, NZED, State Hydro DepartmentShell of previous electricity utility. Assets transferred to Contact, Genesis, Meridian, Mighty River
KiwiRail Holdings Limited1 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 1989Subsidiary of Television New Zealand Formerly Broadcast Communications Limited or BCL, renamed 2006.
Landcorp 1 April 1987Commercial arm of Department of Survey and Land Information
MetService July 1992Part 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 2012Owns the land underneath KiwiRail's network
Quotable Value 2005Valuation NZProperty valuation, particularly for local authority rating purposes
Transpower New Zealand 1994Subsidiary of Electricity Corporation of New Zealand National grid operator

State-(part-)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.

NameDate createdFormerlyGovernment
ownership
Notes
Accident Compensation Corporation
AgResearch 1992Ministry 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%
Crown Asset Management Limited
Crown Fibre Holdings Limited
Dunedin Airport 198950%
Earthquake Commission 1945
Genesis Energy Limited 1999Part of Electricity Corporation of New Zealand 52.4% [5] 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 Limited1992 DSIR
Institute of Geological & Nuclear Sciences Limited 1992 DSIR
Landcare Research New Zealand Limited
Mercury Energy 1999Part of Electricity Corporation of New Zealand 51.15% [6] Floated on the sharemarket in May 2013.
Meridian Energy 1999Part of Electricity Corporation of New Zealand 51.02% [7] 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

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: [8]

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

Related Research Articles

A state-owned enterprise (SOE) is a government entity which is established or nationalised by a national or provincial government, by an executive order or an act of legislation, in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price, implement government policies, and/or to deliver products & services to the remote locations of the country. The national government or provincial government has majority ownership over these state owned enterprises. Defining characteristics of SOEs are their distinct legal form and possession of financial goals and developmental objectives. SOEs are government entities established to pursue financial objectives and developmental goals.

<span class="mw-page-title-main">NZ Post</span> Postal service in New Zealand

NZ Post, shortened from New Zealand Post, is a state-owned enterprise responsible for providing postal service in New Zealand.

A Crown entity is an organisation that forms part of New Zealand's state sector established under the Crown Entities Act 2004, a unique umbrella governance and accountability statute. The Crown Entities Act is based on the corporate model where the governance of the organisation is split from the management of the organisation.

Council-controlled organisations (CCOs) and council-controlled trading organisations in New Zealand are what were formerly known as local-authority trading enterprises (LATEs). Introduced under Sections 6 and 7 of the Local Government Act 2002, they are essentially any company with a majority council shareholding, or a trust or similar organisation with a majority of council-controlled votes or council-appointed trustees, unless designated otherwise. More than one council may be represented in a council-controlled organisation.

<span class="mw-page-title-main">Television in New Zealand</span> Overview of television in New Zealand

Television in New Zealand was introduced in 1960 as a state-run service. The broadcasting sector was deregulated in 1989, when the Government allowed competition to the state-owned Television New Zealand (TVNZ). There are currently three forms of broadcast television: a terrestrial (DVB-T) service provided by Freeview; as well as satellite (DVB-S) and internet streaming (IPTV) services provided nationwide by both Freeview and Sky.

<span class="mw-page-title-main">Te Uru Rākau</span> Government institution managing state owned forests

Te Uru Rākau – New Zealand Forest Service is the agency within the Ministry for Primary Industries that is responsible for the New Zealand forestry sector. It is headquartered in Rotorua.

<span class="mw-page-title-main">Radio New Zealand</span> Public-service radio broadcast network

Radio New Zealand, commonly known as Radio NZ or simply RNZ, is a New Zealand public-service radio broadcaster and Crown entity that was established under the Radio New Zealand Act 1995. It operates news and current-affairs network, RNZ National, and a classical-music and jazz network, RNZ Concert, with full government funding from NZ On Air. Since 2014, the organisation's focus has been to transform RNZ from a radio broadcaster to a multimedia outlet, increasing its production of digital content in audio, video, and written forms.

Tranz Rail, formally Tranz Rail Holdings Limited, was the main rail operator in New Zealand from 1991 until it was purchased by Toll Holdings in 2003.

In New Zealand, Crown Research Institutes (CRIs) are corporatised Crown entities charged with conducting scientific research.

The New Zealand Post Office (NZPO) was a government department of New Zealand until 1987. It was previously named the New Zealand Post and Telegraph Department.

<span class="mw-page-title-main">New Zealand Treasury</span> Economic and Financial policy agency of New Zealand

The New Zealand Treasury is the central public service department of New Zealand charged with advising the Government on economic policy, assisting with improving the performance of New Zealand's economy, and managing financial resources. The Minister responsible for the Treasury is the Minister of Finance of New Zealand; however, from 1996 to 2002, there existed a more specific position of Treasurer of New Zealand. The role was created for Winston Peters by the Fourth National Government under Jim Bolger after the 1996 election, and abolished by Helen Clark’s government in 2002.

A crown agency was an administrative body of the British Empire, distinct from the Civil Service Commission of Great Britain or the government administration of the national entity in which it operated. These enterprises were overseen from 1833 to 1974 by the Office of the Crown Agents in London, thereafter named the Crown Agents for Oversea Governments and Administration. Crown Agents for Oversea Governments and Administrations Ltd became a private limited company providing development services in 1996.

A statutory corporation is a government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, but they are corporations owned by a government or controlled by national or sub-national government to the extent provided for in the creating legislation.

<span class="mw-page-title-main">New Zealand Railways Corporation</span>

New Zealand Railways Corporation (NZRC) is the state-owned enterprise that owns the land beneath KiwiRail's railway network on behalf of the Crown. The corporation has existed under a number of guises since 1982, when the old New Zealand Railways Department was corporatised followed by deregulation of the land transport sector. In 1986, the Corporation became a State-owned enterprise, required to make a profit. Huge job losses and cutbacks ensued, and the rail network, rail operations and ferry service of the corporation were transferred to New Zealand Rail Limited in 1990. The Corporation retained ownership of the land beneath the railway network, and charged a nominal rental to New Zealand Rail, which was privatised in 1993, and renamed Tranz Rail in 1995. In 2004, following a deal with Tranz Rail's new owners Toll NZ, the Corporation took over responsibility for maintaining and upgrading the rail network once more, trading under the name ONTRACK. Negotiations with Toll over track access charges concluded after four years with no agreement reached, so the government purchased the entire rail and ferry operations, naming the service KiwiRail. ONTRACK's railway infrastructure and employees were then transferred to KiwiRail in 2008, which itself was initially a subsidiary of the corporation. On 31 December 2012, the Corporation once again became the landowner.

Crown corporations in Canada are government organizations with a mixture of commercial and public-policy objectives. They are directly and wholly owned by the Crown.

The Shipping Corporation of New Zealand was a New Zealand shipping company created by the Third Labour Government led by Norman Kirk in 1973.

In South Africa the Department of Public Enterprises is the shareholder representative of the South African Government with oversight responsibility for state-owned enterprises in key sectors. Some companies are not directly controlled by the Department of Public Enterprises, but by various other departments. Further, not all state owned entities are registered as companies.

References

  1. 1 2 "List of Entities monitored by the Treasury". The Treasury. 5 January 2016.
  2. "Schedule 1 – State enterprises". State-Owned Enterprises Act 1986. Parliamentary Counsel Office.
  3. NZ Government, NZ (18 December 1986). "State-Owned Enterprises Act 1986 No 124 (as at 01 December 2014), Public Act 1 Short Title and commencement – New Zealand Legislation". www.legislation.govt.nz. Government of New Zealand. Retrieved 5 December 2016.
  4. "Companies Office – Air New Zealand Limited Shareholders". 26 February 2015.
  5. "Companies Office – Genesis Energy Limited Shareholders". 26 February 2015.
  6. "Mercury NZ Limited (936901)". Companies Office. Retrieved 30 July 2016.
  7. "Companies Office – Meridian Energy Limited Shareholders". 26 February 2015.
  8. "State-Owned Enterprises". New Zealand Treasury. 14 August 2014. Retrieved 26 February 2015.
  9. "New Zealand. Government Printing Office". National Library of New Zealand. Retrieved 12 March 2022.
  10. "End of another print era". Times Age. 23 February 2020. Retrieved 12 March 2022.
  11. "About Webstar". Webstar. 2 May 2013. Retrieved 12 March 2022.