Governance of the RSPF
Find out about the different groups that will be providing governance and oversight of the Regional Strategic Partnership Fund (RSPF).
Proper governance and oversight of the RSPF is important and will be provided by the following individuals and groups.
The Minister for Economic and Regional Development is the responsible minister for investments made through the RSPF.
The Regional Economic Development Ministers make decisions on investments under $20 million. These ministers are:
- The Minister of Finance
- The Minister for Economic and Regional Development
- The Minister for Social Development and Employment
- The Minister for Māori Development.
Cabinet makes decisions about investments of $20 million or more.
Māori Economic Development Ministers Group drives a broader government view of Māori Economic Development. It aims to ensure various work programmes, such as at Te Puni Kōkiri and the Ministry for Primary Industries, are aligned so they are better able to deliver a collective impact. This reduces the fragmentation of government support Māori often cite as a barrier to economic development.
This group will not make decisions on investments, but will be consulted on all decisions relevant to iwi, hapū and Māori. The members are:
- The Minister for Economic and Regional Development;
- The Minister for Māori Development;
- The Minister for Māori Crown Relations: Te Arawhiti;
- The Minister of Local Government;
- Associate Minister of Agriculture (Animal Welfare); and
- Parliamentary Under-Secretary, Trade and Export Growth (Māori Trade).
Regional Economic Development Senior Officials (REDSOs) are economic development advocates in their assigned region.
Crown Regional Holdings Limited (CRHL)
The Government established CRHL, a Schedule 4A company, under the Public Finance Act 1989. The Minister of Finance and Minister for Regional Economic Development, on behalf of the Crown, each hold 50% of the issued ordinary shares in the company.
CRHL’s key objective is to act as the nominated legal entity for taking novation of Crown investments, including from the Provincial Growth Fund and the board of directors of CRHL have been reappointed to provide oversight of these investments.
Investments made under the RSPF will be novated to CRHL. CRHL will not make decisions on investments but the Board of CRHL will provide commercial advice on potential investments prior to Ministerial decision making.