Meridian is a limited liability company and a state-owned enterprise under the State-Owned Enterprise Act 1996.
As a state-owned enterprise, all of Meridian’s shares are owned by the Crown. These are held in equal proportions by the Minister of Finance and the responsible Minister as appointed by the Prime Minister from time to time, currently the Minister of State-Owned Enterprises.
Consistent with the State-Owned Enterprise Act, Meridian’s principal objective is to operate as a successful company which is:
- as profitable and efficient as a comparable business not owned by the Crown
- a good employer
- an organisation which exhibits a sense of social responsibility having regard to the interests of the communities in which it operates and by endeavouring to accommodate or encourage those interests when able to do so.
The principal objective underpins the activities of the company.
Meridian’s Board has a responsibility to protect and enhance the value of the Meridian Group in the interests both of Meridian and of the Crown as shareholder. The Board is the overall and final body for all decision-making within the company.