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

Answer

I am advised that 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.