30652 (2023). Arena Williams to the Minister for State Owned Enterprises

30652 (2023). Arena Williams to the Minister for State Owned Enterprises: Does the Minister have confidence that Directors of State Owned Enterprises are adhering to appropriate Codes of Conduct?

Hon Paul Goldsmith: Yes.  The Owner’s Expectations document for State Owned Enterprises, which can be found on the Treasury’s website, states that “Each board should have a charter/code of practice to provide guidance and to assist directors to carry out their duties and responsibilities effectively and in accordance with the highest professional and ethical standards.  Some boards may choose to have separate documents, for example a charter covering board procedures and a code of conduct/ethics covering ethical behaviour.  It is best practice to disclose these documents to set an example for staff members and to demonstrate the company’s values to the wider community.  The NZX Corporate Governance Code provides recommendations on a code of ethics (Principle 1) and a board charter (Principle 2)”.   I have not received any reports or been advised of any concerns that SOE directors are not following these long-standing expectations.