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Further council discussion on Ports of Auckland

Media release

April 14, 2015

Further council discussion on Ports of Auckland

Auckland Council’s CCO Governance and Monitoring Committee today discussed a report on the Ports of Auckland Limited’s governance framework.

The report was prepared and tabled following a request from councillors who wanted to better understand the levers council and Auckland Council Investments Limited (ACIL, the Ports’ shareholder) had available with respect to POAL.

It explained the statutory framework for governance of the port company, the powers council had in relation to ACIL and what considerations applied for those powers to be exercised.

The council had three main formal governance levers, the report said - board appointments, the Statement of Corporate Intent between ACIL and POAL and management reviews and shareholder resolutions.

Today’s discussion followed a number of other steps already taken by Auckland Council:

• CEO Stephen Town has written to ACIL about the council’s expectations

• The Auckland Development Committee has advised the mayor, chief executive and ACIL to continue to do everything within their powers to encourage Ports of Auckland not to proceed with extensions to Bledisloe Wharf until the Port Future Study was complete

• ACIL has written to the POAL board.

ENDS


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