Debating MOM

by Desk Editor on Thursday, March 8, 2012 — 11:43 AM

The Mixed Ownership Model Bill which paves the way for the partial sell off of some state owned enterprises will be debated in Parliament this afternoon.

The bill proposes removing Genesis Power, Meridian Energy, Mighty River Power, and Solid Energy from the State-Owned Enterprises Act.

The bill will restrict the Crown from holding less than 51 percent of the voting rights in each of the companies and will restrict non-Crown individuals and entities from holding more than 10 percent of the voting rights in each of the companies.

National campaigned on the policy in the election campaign, but Labour and other opposition parties strongly oppose the bill which they say does not have the support of the majority of New Zealanders.

The Business Committee has also approved the House to sit under extended hours tonight until 10pm and if needed on Friday morning to deal with nine treaty settlement bills.

The bills are being debated together in groups and the first time extended hours were used MPs managed to co-operate to ensure business was completed by 10pm on Thursday.

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