English delays removing Mighty River Power from SOE Act
English delays removing Mighty River Power from SOE Act after Maori get urgent hearing
Oct. 23 (BusinessDesk) - The government has delayed removing Mighty River Power from the State Owned Enterprises Act after the High Court granted an urgent hearing for the Maori Council’s application for a judicial review of the government’s plan to sell down the company.
“This doesn’t affect the timing of the Mighty River Power float, which remains a priority for the government,” English said in a statement.
Still, the government has opted to defer removing the power company from the schedule of companies listed in the State-Owned Enterprises Act “now that proceedings are filed and a fixture on the substantive issue has been allocated,” he said.
The government is betting the courts won’t find in favour of the council, which argues that Maori’s rights to waterways must be considered before state assets can be sold, especially those in the SOE Act which includes reference to the Treaty of Waitangi.
The High Court has set a hearing for the week of Nov. 26 in relation to the judicial review.