State-owned enterprises (SOEs) in New Zealand are registered companies listed under Schedules 1 and 2 of the State-Owned Enterprises Act 1986. A government-owned corporation, state-owned enterprise or government business enterprise is a legal entity created by a Government to undertake commercial New Zealand is an Island country in the south-western Pacific Ocean comprising two main landmasses (the North Island and the South Island Generally a company is a form of Business organization. The precise definition varies Most SOEs are former government departments or agencies that were corporatised. State sector organisations in New Zealand are as follows (see also State Sector Act 1988) Parliamentary Offices Office Corporatization is a more precise term for what often is called Privatization, for it almost always refers to a process by which formerly public assets or functions are sold
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.
The function of SOEs is to operate successfully as a business, as profitable as those not owned by the Crown. Throughout the Commonwealth realms The Crown is an abstract metonymic concept which represents the legal authority for the existence of any government 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. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business
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 - pronounced "see-see-maow") in The Treasury. The New Zealand Treasury (in Māori, Kaitohutohu Kaupapa Rawa is a public sector organisation and the Government’s lead advisor on economic and financial policy
Current state-owned enterprises include:
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. New Zealand Post Limited is the dominant Postal operator in New Zealand. Kiwibank Limited is a wholly owned subsidiary of the State-owned enterprise New Zealand Post Limited. Meteorological Service of New Zealand Limited ( MetService) has been in existence since 1992 when it was established as a State-Owned Enterprise. Airways New Zealand is the sole Air Traffic Service provider in New Zealand The company was created 1987 as a State-Owned Enterprise having Transpower New Zealand Limited (TPNZ is the State-owned enterprise responsible for Electric power transmission in New Zealand. Kordia is a New Zealand State-owned enterprise that operates a national communications network and provides network feeds and broadcast services for the major television Orcon Internet Limited (normally just Orcon), is a newly state owned New Zealand Internet Mighty River Power Limited is a New Zealand Electricity generation and Electricity retailing company Meridian Energy Limited, a New Zealand -based company, generates and retails Electricity. Genesis Power Limited is a New Zealand Electricity generation and Electricity natural gas and LPG retailing company and trades as Genesis Energy Learning Media Limited ( Māori Te Pou Taki Kōrero) is a New Zealand state-owned enterprise. OnTrack was a Syracuse New York Regional rail line During its operation Syracuse was the smallest city in the United States to have regional train service 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 Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business Well-known SOEs that became Crown entity companies include broadcasting companies Television New Zealand Limited (TVNZ) and Radio New Zealand Limited (RNZ). Television New Zealand (TVNZ is a state-owned television broadcasting corporation in New Zealand. Radio New Zealand Limited (Te Reo Irirangi o Aotearoa is New Zealand 's public service Radio broadcaster.
Privatised state-owned enterprises include:
Source: The New Zealand Treasury
Some SOEs, such as ECNZ, are effectively small SOEs or shell companies. Privatization is the incidence or process of transferring ownership of business from the Public sector (government to the Private sector (business Telecom New Zealand () is a Wellington, New Zealand -based Telephone company and through its subdivision Xtra, an Internet service Local loop unbundling ( LLU) is the regulatory process of allowing multiple Telecommunications operators use of connections from the Telephone exchange 's Petrocorp, formally the Petroleum Corporation of New Zealand Limited, is a former New Zealand State-Owned Enterprise that was formed in 1978. Royal Dutch Shell plc, commonly known simply as Shell, is a multinational oil company of Dutch and British origins State Insurance is an insurance company based in New Zealand and is now a Brand of IAG New Zealand Limited, a subsidiary of Insurance Australia The Australia and New Zealand Banking Group Limited () commonly called ANZ, is the fourth largest Bank in Australia, after the National Australia The P&O Cruises brand is not owned by the Peninsular and Oriental Steam Navigation Company New Zealand Steel is a large Steel mill located at Glenbrook, New Zealand. Air New Zealand Limited (, Air New Zealand is a scheduled passenger Airline based in Auckland, New Zealand, and the national Flag carrier The National Bank of New Zealand ( NBNZ) is one of New Zealand 's largest banks. The Government Printing Office (GPO is an agency of the legislative branch of the United States federal government. The National Film Unit (NFU was a state-owned Film production organisation in New Zealand. Peter Robert Jackson, CNZM (born 31 October 1961 is a three-time Academy Award -winning New Zealand director producer and writer best known for directing Park Road Post is a 10200 m² (110000 ft² motion picture post production facility located in Miramar New Zealand, a suburb of Wellington. Bank of New Zealand (BNZ is one of New Zealand 's largest banks Tranz Rail, formally Tranz Rail Holdings Ltd ( New Zealand Rail Ltd until 1995 was the main rail operator in New Zealand from 1995 until it Terralink International is a New Zealand owned and operated provider of Geographic information systems (GIS and mapping solutions for better business management Companies that are still SOEs but are now shell companies, having had most of their assets privatised, include:
Other, non-SOE Crown-owned companies are the Crown entity companies. Air New Zealand Limited (, Air New Zealand is a scheduled passenger Airline based in Auckland, New Zealand, and the national Flag carrier 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 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. In New Zealand, Crown Research Institutes ( CRIs) are corporatised Crown entities charged with conducting scientific Research Television New Zealand (TVNZ is a state-owned television broadcasting corporation in New Zealand. Radio New Zealand Limited (Te Reo Irirangi o Aotearoa is New Zealand 's public service Radio broadcaster.
The Crown also has a majority stake in Air New Zealand Limited. Air New Zealand Limited (, Air New Zealand is a scheduled passenger Airline based in Auckland, New Zealand, and the national Flag carrier