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CROWN ENTITIES ACT 2004
- As at 27 August 2025
- Act 115 of 2004
TABLE OF PROVISIONS
1. Title
2. Commencement
PART 1 - Preliminary provisions
3. Purpose
4. Application of Acts to Crown entities
5. Application of this Act to school boards
6. Application of this Act to tertiary education institutions
7. Meaning of Crown entity and categories of Crown entities
7A. Meaning of multi-parent subsidiary
8. Meaning of parent Crown entity
9. Power to amend Schedules 1 and 2
10. Interpretation
10A. Provisions affecting application of amendments to this Act
10B. Status of examples
11. Act binds the Crown
12. Outline of main Crown entity provisions
PART 2 - Establishment and governance of Crown entities
SUBPART 1 - Statutory entities
13. Establishment of statutory entity
14. Functions
15. Status of statutory entity
16. Core things statutory entities can do
17. Other things statutory entities can do
18. Acts must be for purpose of functions
19. Acts in breach of statute are invalid
20. Some natural person acts protected
21. Limits on protection of natural person acts
22. Acts that are not in best interests of statutory entity
23. Dealings between statutory entities and other persons
24. Interpretation
25. Board's role
26. Accountability of members to responsible Minister
27. Responsible Minister's role
Note
27A. Monitor's role
28. Method of appointment of members
29. Criteria for appointments or recommendations by responsible Minister
30. Qualifications of members
31. Requirements before appointment
32. Term of office of members
33. Elected, co-opted, etc, members
34. Validity of members' acts
35. Validity of appointments
36. Removal of members of Crown agents
37. Removal of members of autonomous Crown entities
38. Removal of elected members of Crown agents and autonomous Crown entities
39. Removal of members of independent Crown entities
40. Just cause
41. Process for removal
42. Judges serving as members
43. No compensation for loss of office
44. Resignation of members
45. Members ceasing to hold office
46. Member of corporation sole not to hold concurrent office
47. Remuneration of members
48. Expenses of members
49. Entity must act consistently with objectives, functions, statement of intent, and statement of performance expectations
50. Manner in which functions must be performed
51. Entity must operate in financially responsible manner
52. Subsidiaries and other interests
53. Duty to comply with this Act and entity's Act
54. Duty to act with honesty and integrity
55. Duty to act in good faith and not at expense of entity's interests
56. Duty to act with reasonable care, diligence, and skill
57. Duty not to disclose information
58. Accountability for collective board duties
59. Accountability for individual duties
60. Court actions requiring or restraining board or members
61. When members may rely on certain information and advice
62. When interests must be disclosed
63. Obligation to disclose interest
64. Who disclosure of interests must be made to
65. What must be disclosed
66. Consequences of being interested in matter
67. Consequences of failing to disclose interest
68. Permission to act despite being interested in matter
69. Entity may avoid certain acts done in breach of conflict of interest rules
70. What is fair value
71. Onus of proving fair value
72. Effect of avoidance on third parties
73. Ability to delegate
74. Powers of delegate
75. Effect of delegation on entity or board
76. Revocations of delegations
77. Vacancies in membership of board
78. Appointment of chairperson, etc, and board procedure
SUBPART 2 - Crown entity companies
79. Formation and acquisition of shares in Crown entity companies
80. Restrictions relating to shares in Crown entity companies
81. Crown entity company must have constitution stating it is Crown entity
82. Constitution must be presented to House of Representatives
83. Shares to be held by person holding office as Minister
84. Appointment of representative of shareholding Minister
85. Interface with Companies Act 1993 and other Acts
86. Board's role
87. Accountability of members to shareholding Ministers
88. Shareholding Ministers' role
Note
88A. Monitor's role
89. Criteria for appointments by shareholding Minister
90. Members must disclose interests before appointment
91. No compensation for removal from office
92. Duty to act consistently with objectives, functions, statement of intent, and statement of performance expectations
93. Subsidiaries
94. Accountability for collective board duties
95. Duty to comply with this Act and entity's Act
SUBPART 3 - Crown entity subsidiaries
96. Acquisition of subsidiaries
97. Subsidiaries: rules applying to all Crown entities
98. Subsidiaries: rules applying only to statutory entities
99. Application to multi-parent subsidiaries
100. Acquisition of shares or interests in companies, trusts, and partnerships, etc
101. Corporation sole may not acquire interests in bodies corporate
102. Interface with Companies Act 1993 and other Acts
PART 3 - Operation of Crown entities
SUBPART 1 - Provisions applying generally to Crown entities
Note
103. Power to direct Crown agents to give effect to government policy
104. Power to direct autonomous Crown entities to have regard to government policy
105. No power to direct independent Crown entities or Crown entity companies on government policy unless provided in another Act
106. Directions to members and office holders of entities
107. Directions to support whole of government approach
108. Process for giving directions under section 107
109. House of Representatives may resolve to disapply direction under section 107
110. Obligation to give effect to direction
111. Publication of direction under section 107
112. Power to add functions if authorised by entity's Act or constitution
113. Safeguarding independence of Crown entities
Note
114. Crown entities must comply with directions given under statutory power of direction
115. Procedure for ministerial directions on government policy
115A. Review and expiry of all directions
116. Employment of employees
117. Employment of chief executive
118. Crown entity to be good employer
119. Application of clauses 12 to 14 of Schedule 8 of the Public Service Act 2020
SUBPART 2 - Statutory entities
120. Protections from liabilities of statutory entity
121. Immunity from civil liability
122. Indemnities in relation to excluded act or omission
123. Insurance for liability of member, office holder, or employee
124. Saving of judicial protections from liability
125. Breach of indemnity and insurance limits
126. Definitions for protections from liability
127. Method of contracting
128. Seal
129. Attorneys
130. Address for service
SUBPART 3 - Miscellaneous provisions
131. Application of Ombudsmen Act 1975 and Official Information Act 1982
132. Review of Crown entity's operations and performance
133. Power to request information
134. Good reasons for refusing to supply requested information
135. Members, office holders, and employees are officials
PART 4 - Crown entity reporting and financial obligations
SUBPART 1 - Interpretation for this Part
136. Interpretation for this Part
SUBPART 2 - Reporting obligations
137. Application of this subpart
138. Purpose of statement of intent
139. Obligation to prepare statement of intent
139A. Minister may require Crown entity to prepare new statement of intent at any time
139B. Minister may grant extension of time for, or waive, requirement to provide statement of intent
139C. Responsible Minister may grant extension of time for requirement to provide statement of intent: COVID-19
140. Statement of intent for newly established Crown entities
141. Content of statement of intent
142. Extra information required in statement of intent for first financial year
143. Exemption for certain outputs
144. Application and term of statement of intent
145. Ministerial involvement in statements of intent
146. Process for providing statement of intent to responsible Minister
147. Amendments to final statement of intent by responsible Minister
148. Amendments to final statement of intent by Crown entity
149. Obligation to publish and present statement of intent
149A. Obligation to publish and present amendments to statement of intent
Note
149B. Purpose of statement of performance expectations
149C. Obligation to prepare statement of performance expectations
149CA. Responsible Minister may grant extension of time for obligation to prepare statement of performance expectations: COVID-19
149D. Statement of performance expectations for newly established Crown entities
149E. Content of statement of performance expectations
149F. Exemption for certain outputs
149G. Forecast financial statements
149H. Ministerial involvement in statements of performance expectations
149I. Process for providing statement of performance expectations to responsible Minister
149J. Amendments to final statement of performance expectations by responsible Minister
149K. Amendments to final statement of performance expectations by Crown entity
149L. Obligation to publish and present statement of performance expectations
149M. Obligation to publish and present amendments to statement of performance expectations
150. Obligation to prepare, present, and publish annual report
150A. Special annual reporting requirements
151. Form and content of annual report
152. Disclosure of payments in respect of members, committee members, and employees
153. Form and content of statement of performance
154. Annual financial statements
155. Statement of responsibility
156. Audit report
Note
156A. Application of this subpart to Crown entity groups
156B. Minister of Finance may require additional reporting
Note
157. Multi-parent subsidiaries part-owned by school board
157A. Other multi-parent subsidiaries
SUBPART 3 - Other provisions for financial accountability
158. Bank accounts of Crown entities
Note
159. Application of acquisition of financial products, borrowing, guarantees, indemnities, and derivatives rules
160. Further provision relating to acquisition of financial products, borrowing, guarantees, indemnities, and derivatives rules
161. Restrictions on acquisition of financial products
162. Restrictions on borrowing
163. Restrictions on giving of guarantees and indemnities
164. Restrictions on use of derivatives
165. Net surplus payable by certain statutory entities and Crown entity companies
166. Capital charge payable by certain statutory entities
167. Gifts
168. Accounting records to be kept
SUBPART 4 - Miscellaneous
169. Taxation of statutory entities
170. Responsible Minister may set standards, terms, and conditions in respect of certain classes of outputs
171. Offences
172. Penalties for offences
173. Regulations under this Part
174. Minister of Finance instructions
175. Consultation with House of Representatives on reporting standards
176. Application of provisions of Public Finance Act 1989
PART 5 - Miscellaneous provisions
177. Application of liquidation provisions of Companies Act 1993 to statutory entities
178. Application of Archives Act 1957
179. Public Bodies Contracts Act 1959 does not apply to Crown entities
180. Local Authorities (Members' Interests) Act 1968 does not apply to Crown entities
181. Administration of Crown entity provisions
182. Existing members exempt from qualification requirements
183. Term of office of existing members other than ex officio members
184. Term of office of existing ex officio members
185. Term of office of existing chairpersons and deputy chairpersons
186. Continuation of existing board committees
187. Continuation of existing employment
188. Existing compensation provision
189. Existing protection from liability provisions
190. Existing insurance cover
191. Existing rights under Government Superannuation Fund Act 1956 unaffected
192. Existing delegations and directions to continue
193. Other existing things protected
194. Existing shareholdings in Crown entity subsidiaries
195. Existing bank accounts
196. Existing law on securities, borrowing, guarantees, indemnities, and derivative transactions continues to apply until 1 April 2005
197. Continuation of pre-1 April 2005 securities, borrowing, guarantees, indemnities, and derivative transactions
198. Reporting obligations in respect of financial years ending before 1 July 2006
199. Regulations for transitional, savings, and general purposes
199A. Application, savings, and transitional provisions relating to amendments to Act
200. Amendments to other enactments
201. Amendment to Gas Amendment Act 2004
SCHEDULE 1AAA
SCHEDULE 1
SCHEDULE 2
SCHEDULE 3
SCHEDULE 4
SCHEDULE 5
SCHEDULE 6
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