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Crown Entities Act 2004

Establishment and governance of Crown entities - Crown entity companies - Formation and shareholding of Crown entity companies

83: Shares to be held by person holding office as Minister

You could also call this:

"Minister's shares are held by the person in the Minister's role at the time"

Illustration for Crown Entities Act 2004

When a Minister's name is on shares in a Crown entity company, you need to know that the person who is the Minister at the time actually holds those shares. If a new person becomes the Minister, they will then hold the shares, even if the old Minister's name is still on them. The shares do not need to be officially transferred to the new Minister's name.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM330321.

Topics:
Government and voting > Government departments
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84: Appointment of representative of shareholding Minister, or

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Part 2Establishment and governance of Crown entities
Crown entity companies: Formation and shareholding of Crown entity companies

83Shares to be held by person holding office as Minister

  1. Shares in a Crown entity company held in the name of a person described as a Minister are to be held by the person for the time being holding the office of that Minister.

  2. It is not necessary to complete or register a transfer of shares in a Crown entity company held in the name of a person described as a Minister upon a change in the person holding that office.

  3. Subsection (2) applies despite any other enactment or rule of law.