Crown Entities Act 2004

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

102: Interface with Companies Act 1993 and other Acts

You could also call this:

"How Crown entities work with company and information laws"

When you look at a Crown entity subsidiary, you need to consider how the Companies Act 1993 and the Crown Entities Act 2004 work together. The Companies Act 1993 has rules about what information companies must give to their shareholders, but these rules do not apply to Crown entity subsidiaries when it comes to providing information that must be shared under the Crown Entities Act 2004 or the Official Information Act 1982. This means Crown entity subsidiaries cannot use the Companies Act 1993 rules to refuse sharing information that they are required to share.

You also need to know that some parts of the Companies Act 1993 do not apply to Crown entity subsidiaries, such as rules about paying directors for losing their jobs. In general, both the Companies Act 1993 and the Crown Entities Act 2004 apply to Crown entity subsidiaries, and following one Act can mean you are also following the other Act. This helps make sure that Crown entity subsidiaries follow the rules in a way that makes sense.

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

102Interface with Companies Act 1993 and other Acts

  1. Section 178 of the Companies Act 1993 (which relates to information for shareholders and, among other things, sets out some reasons for which a company can refuse to provide information) does not entitle a Crown entity subsidiary to refuse to provide information that must be provided under this Act or otherwise made available to any person under the Official Information Act 1982.

  2. Section 161(1)(b) of the Companies Act 1993 (which relates to payment to a director or former director of compensation for loss of office) does not apply to Crown entity subsidiaries.

  3. In all other respects, both the Companies Act 1993 and this Act apply to a Crown entity subsidiary in respect of a matter, but anything done under one Act counts towards compliance with the other Act.