Crown Entities Act 2004

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

96: Acquisition of subsidiaries

You could also call this:

"Crown entities must follow rules when buying or creating a new subsidiary company."

If you are a Crown entity, you must follow some rules when you want to acquire or form a new subsidiary. You can only do this after giving written notice to someone, depending on what type of Crown entity you are. If you are a subsidiary of another Crown entity, you must give written notice to your parent Crown entity, but if you are not a subsidiary, you must give written notice to the responsible Ministers.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM330341.


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95: Duty to comply with this Act and entity's Act, or

"Crown entity members must follow the rules in this Act and their own Act."


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97: Subsidiaries: rules applying to all Crown entities, or

"Rules for Crown entities to control their subsidiaries"

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

96Acquisition of subsidiaries

  1. A Crown entity must ensure that the entity acquires or forms a Crown entity subsidiary only,—

  2. in the case of a Crown entity that is a Crown entity subsidiary, after written notice to its parent Crown entity:
    1. in the case of another Crown entity, after written notice to the responsible Ministers.