Mixed Ownership Model Bill - Amendment paper No 037
Mixed Ownership Model Bill - Amendment paper No 037
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Mixed Ownership Model Bill - Amendment paper No 037
No 37
House of Representatives
Supplementary Order Paper
Thursday, 14 June 2012
Mixed Ownership Model Bill
Proposed amendment
Dr Russel Norman, in Committee, to move the following amendment:
Clause 16
In clause 16, after new section 45Q (after line 15 on page 7), insert:
45QA Prohibition of disposal or issue of shares before referendum
No person who is a shareholder in a mixed ownership model company may sell or otherwise dispose of any shares in the company held in that person’s name before—
(a) an indicative referendum is held on the question
“Do you support the Government selling up to 49% of Meridian Energy, Mighty River Power, Genesis Power, Solid Energy, and Air New Zealand”and the writ is returned pursuant to the Citizens Initiated Referenda Act 1993; or
(b) the indicative referendum petition for the question referred to in paragraph (a) and published in the Gazette on 3 May 2012 lapses pursuant to the Citizens Initiated Referenda Act 1993.
Explanatory note
The purpose of this Supplementary Order Paper is to place a prohibition on the sale of any shares in the mixed ownership model companies referred to in new section 45QA until after a citizens initiated indicative referendum on the Government’s policy of selling those shares has been held.
The Keep Our Assets Coalition is currently collecting signatures for the indicative referendum petition on the question stated in new section 45QA(a).
This prohibition would lapse should the indicative referendum petition fail to attain the number of signatures required to trigger a referendum.
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Mixed Ownership Model Bill - Amendment paper No 037
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