Airport shares is aim of bill
PA [Welliigton! ' !' ! j ' i j A bill to settle Auckland local authorities’ share- 1 holding in the [company, formed to own i and run' puckland Airport was in- 1 produced in Parliament Yesterday. ■[ [. - I: . I An act passed!last]iyear provided for 50[per cent of the. totak shareholding to go to the Crown and 50 per cent to the! 29 local authorities. [ [ ! !i I At the time [the aqt was passed the :[ authorities could not agree! bn} how their 50 per cent! would be divided up. The[Manukau City Council [ wanted a greater shareholding proportionate to. its} contribution, because! the airport was sited within its boundaries. I [ -| 1 -, : The Minister of Transport, Mr Jeffries, told the House yesterday that
[Manukau and the Auckland ■ City Council ,had settled this question and obt lined : approval from most [of the other authorities. [ : I ! !i| A : Under the Auckland Airport Amendment [[[Bill — the result of! , that agreement — Manukau; City receives a 15.62,[per cent (shareholding in![[the airport company, although |it ] contributes only ,7.47! I pey cent. I , I Under act its share- ! holding was set at! 5.47 1 per cent. | [The otjher councils’ shareholdings 1 are linked closely to their contributions! and range from Auckland City’s 30.74 per centi sharq (compared to contributions of 32.81 per cent)' to less than l!'per cent j for ciuncils such as Newmarket, Waiuku and Ellerslie. I
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Press, 23 March 1988, Page 8
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230Airport shares is aim of bill Press, 23 March 1988, Page 8
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