A Crown entity (from the Commonwealth term Crown ) 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 statute. The Crown Entities Act is based on the corporate model where the governance of the organisation is split from the management of the organisation.
11-662: Landcorp Farming Limited ("Landcorp") is a state-owned enterprise of the New Zealand government . Its brand name is Pāmu , the Māori language word for 'to farm'. Its core business is pastoral farming including dairy , sheep , beef and deer , as well as a foods business marketing milk and meat products globally under the Pāmu brand and as a supplier to other food processors. Pāmu manages 117 properties carrying over 1 million stock units on 365,257 hectares of property under management. Landcorp
22-697: A more complete list of government entities and organisations, see Public sector organisations in New Zealand . 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. Well-known SOEs that became Crown entity companies include broadcasting companies Television New Zealand (TVNZ) and Radio New Zealand (RNZ). Privatised state-owned enterprises include: Other, non-SOE Crown-owned companies are
33-472: Is dedicated to reducing its climate impact through initiatives aimed at decreasing greenhouse gas emissions and improving climate change resistance. The main strategies include adapting land use in variable conditions, securing climate risk reduction at the forefront of plans, and responding to market demands. Collaborative efforts with research agencies, suppliers, and customers focus on testing innovative technologies to efficiently reach reduction targets, despite
44-546: Is to operate successfully as a business, as profitable as those not owned by the Crown . 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. Two Ministers of the Crown act as the shareholding ministers in the company. In the case of SOEs these are usually the Minister for State Owned Enterprises (see article for list) and
55-719: The Crown entity companies. 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. Crown entity Crown entities come under the following types: Crown entities can be contrasted with other New Zealand public sector organisational forms: departments of state , state-owned enterprises , offices of Parliament and sui generis organisations like
66-766: The Reserve Bank . Under the Crown Entities Act, ministers are required to "oversee and manage" the Crown's interests in the Crown entities within their portfolio (sections 27 and 88). The board of the entity has the key role in ensuring the entity is achieving results within budget. This is done by a monitoring department on behalf of the minister unless other arrangements for monitoring are made. Monitoring departments make explicit agreements with their minister, setting out what monitoring they will undertake and how they will do it. Crown entity boards should also facilitate clear and transparent monitoring, for example, by providing
77-494: The State-Owned Enterprises Act 1986 . Most SOEs are former government departments or agencies that were corporatised . They are responsible to the Minister for State Owned Enterprises . 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
88-824: The Crown or private interests. It also owns Focus Genetics, an animal genetics company, and has a 50% investment in Spring Sheep Milk; as well as investments in FarmIQ and Melody Dairies. The company has won a food innovation award for its groundbreaking deer milk innovation and was ranked in the top 10 innovative companies in Australasia in the agriculture category in the 2019 AFR Innovation Awards. Landcorp employs about 700 permanent staff and up to an additional 300 staff during busy periods. It farms about 440000 Sheep, 80000 beef cattle, 74000 dairy cows and 89000 deer. The company has over 9,400 hectares of plantation forestry. Pāmu states it
99-734: The Minister responsible for the particular company. The Crown is assisted in the running of SOEs and other Crown-owned companies by the Treasury's Commercial Operations group (formerly the Crown Ownership Monitoring Unit). The state enterprises are listed in Schedule 1 of the State-owned Enterprises Act. The following table lists entities that are monitored by Treasury, but are not state enterprises (see table above). For
110-480: The challenges of the agricultural sector such as livestock runoff. Pāmu has committed to reducing net greenhouse gas emissions by at least 30.3% by 2031 from 2021. Detailed climate adaptation plans informed by farm-specific vulnerability research have been implemented. Landcorp has three main subsidiary companies: State-owned enterprises of New Zealand State-owned enterprises (SOEs) in New Zealand are registered companies listed under Schedules 1 and 2 of
121-498: Was incorporated as a State-owned Enterprise on 1 April 1987 to assume the commercial farming and property activities of the former Department of Lands and Survey . It operates under the State Owned Enterprises Act 1986. Landcorp is New Zealand's largest farmer, with over $ 1.7 billion in total assets. It farms 117 beef, dairy, deer and sheep farms - 84 are owned directly by the company and the others are farmed on behalf of
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