Television New Zealand Act 2003
Commenced: 28 FEBRUARY 2003
2: Structure and shareholdings of TVNZ and transmission business
Ministers to hold all shares in TVNZ
15 Ministers to hold all shares in TVNZ
(1) A shareholding Minister may not---
(a) sell or otherwise dispose of any shares in TVNZ held in the
Minister's name; or
(b) permit shares in TVNZ to be allotted or issued to any person other
than a shareholding Minister.
(2) Nothing in subsection (1) applies to redeemable preference shares
(a) are not convertible into shares of any other class; and
(b) do not confer any rights to vote at any general meeting of TVNZ.