Governance and Administration
The New Zealand Government — via two Cabinet Ministers (the Minister of Research, Science and Technology and the Minister of Finance) — holds all shares in each of the current eight CRIs. Cabinet appoints a Board for each CRI. Each Board — intended to comprise business, "professional" and science expertise — operates according to the Companies Act as well as the CRI Act (1992) and other relevant Acts. Each Board produces an annual report and reports to the Crown Company Monitoring Advisory Unit (CCMAU), (part of The Treasury) which represents the shareholders. Parliament also scrutinises each CRI on a regular basis.
Day-to-day, however, CRIs operate as any commercial company would, acting within their strategic statement of intent (agreed with the Shareholders) that aligns with the CRI Act purpose and principles.
The CRIs cooperate as Science New Zealand, formerly the Association of Crown Research Institutes.
Read more about this topic: Crown Research Institute
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—Geoffrey Chaucer (1340?–1400)