Greens Incorrect Says Cullen
Wednesday 6 April, 2016
New Zealand Post Board Chair Sir Michael Cullen said today that the Greens are completely incorrect to say the Government can direct Kiwibank.
"Kiwibank is a 100% owned subsidiary of New Zealand Post but in terms of the Companies Act and Reserve Bank requirements it must act independently in terms of its activities.
"The Government cannot direct New Zealand Post, nor through New Zealand Post can it direct Kiwibank."