Has the Minister considered progressing any special resolutions under the Companies Act for State Owned Enterprises this term?

Answer

Shareholding Ministers have passed resolutions under section 122(4) of the Companies Act 1993 in lieu of State-Owned Enterprises holding annual shareholders’ meetings. This is a routine matter that has been the practice for some time. The Crown is the only shareholder of State-Owned Enterprises, Ministers can meet with the companies at any time, and there are typically only administrative matters on the agenda for their annual shareholder meetings; therefore there is little value in holding them.