From Wikipedia, the free encyclopedia

State-Owned Enterprises in New Zealand (known as SOEs) 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. List of State-Owned Enterprises and Crown Entities: State sector organisations in New Zealand (listing of State-Owned Enterprises, Crown Entities and other Crown-Owned Companies here) (see also external links)

Contents 1 Function 1.1 Crown Company Monitoring Advisory Unit 2 Well known SOEs 3 Former SOEs 3.1 Privatised SOEs 4 'Shell' SOEs 4.1 'Revived' SOEs 5 Non-SOE crown-owned companies 5.1 Crown entities 6 External links and sources

Their function 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 and the Minister responsible for the particular company.

The Crown is assisted in the running of SOEs and other Crown-owned companies by the Crown Company Monitoring Advisory Unit (CCMAU) in The Treasury.

Well-known SOEs include:

• New Zealand Post Limited
• Meteorological Service of New Zealand Limited (MetService)
• Airways New Zealand (air traffic control and air navigation providers)
• Transpower New Zealand Limited
• Broadcast Communications Limited
• Mighty River Power Limited
• Meridian Energy Limited
• Genesis Power Limited
• New Zealand Railways Corporation (OnTrack)
• Landcorp

Former SOEs come in three forms -- [1] those removed from the Schedules of the Act and made Crown entities, [2] those removed and not privatised, and [3] those removed and privatised. Well-known SOEs that became crown entities include broadcasting companies Television New Zealand Limited (TVNZ) and Radio New Zealand Limited (RNZ).

Privatised SOEs include:

• Telecom Corporation of New Zealand Limited.
• Petrocorp
• State Insurance Office
• Health Computing Service
• DFC New Zealand Limited
• Post Office Bank Limited (Postbank)
• New Zealand Shipping Corporation
• New Zealand Steel Limited
• Air New Zealand Limited (albeit, the government later bought a controlling share in the company)
• Rural Banking and Finance Corporation
• Government Printing Office
• National Film Unit
• Tourist Hotel Corporation of New Zealand Limited
• Export Guarantee Office
• Government Supply Brokerage Corporation (NZ) Limited
• Bank of New Zealand (BNZ)
• New Zealand Rail Limited (A division of the Railways Corporation)
• GCS Limited
• Terralink International

and others

Companies that are still SOEs but are now shell companies, having had most of their assets privatised, include:

• Electricity Corporation of New Zealand Limited (ECNZ).

Source: The New Zealand Treasury

Some SOEs, such as ECNZ, are effectively small SOEs or shell companies. For example, ECNZ, formerly New Zealand's monopoly electricity generator, is now a shell company following its split into three further SOEs.

Shell SOEs include

• Works and Development Services Corporation New Zealand Ltd which remained in state ownership after the sale of Works Civil Construction Ltd to Downer and Company Ltd.

In 2004, the Crown used the New Zealand Railways Corporation (now trading as ONTRACK) to buy back the railway infrastructure from Tranz Rail (now Toll Rail).

Some Crown-owned or majority-owned companies are not SOEs, including Air New Zealand Limited.

These include Crown Research Institutes (CRIs) and other well-known New Zealand companies such as school textbook publisher Learning Media Limited, the New Zealand Symphony Orchestra Limited (NZSO) and broadcasting companies Television New Zealand Limited (TVNZ) and Radio New Zealand Limited (RNZ).

• State-Owned Enterprises Act 1986 as consolidated and amended at the www.legislation.govt.nz site
  • Schedule 1 (State Enterprises), State-Owned Enterprises Act 1986 as amended
  • Schedule 2 (New State Enterprises), State-Owned Enterprises Act 1986 as amended
• State sector organisations at the State Services Commission site
• Crown Company Monitoring Advisory Unit site
  • Crown Research Institute (CRI) profiles (listing out of date)
  • SOE profiles (listing out of date)
  • Crown Owned Company (CROC) profiles (listing out of date)
  • Crown Entity profiles (listing out of date)