So “Her Majesty the Queen in Right of New Zealand” which is the “Crown” as defined in our legislation, is listed as a corporation with the United States Securities & Exchange Commission. wakeupkiwi/downloadpapers/New_Zealand_Corporate_Government.pdf. Is this good or bad? Does this mean that the “Crown” is a Corporation or that the “Crown” has a Corporation (which it then listed)? The non-sinister interpretation is that its no surprise that an entity of some sort has been listed in the USA. If you want access to the worlds capital markets to raise funds then something has to be used as a conduit for the bonds. A Corporation is a fictional entity, and generally what gives one meaning in the real world are its shareholders, employees, a product or a service, customers, revenue, and inputs that it consumes. There must be further documents that define this Corporation, a deed, articles of association etc. Given that this Corporations ultimate purpose is to raise debt (an assumption), and that any debt it raises can only be given value by the efforts of the Taxpayers of New Zealand then its obvious that we have a right to know exactly what this is about, who exactly are the shareholders …. etc. etc. Other thoughts; Does the name itself have any meaning? The term “in right of” appears throughout commonwealth law and is used to distinguish the (same) Crown in different places. See “Commonwealth Realms” here en.wikipedia.org/wiki/The_Crown where for example “Her Majesty the Queen in right of Canada” appears. The legal definition of Right is “a power, privilege, demand, or claim possessed by a particular person by virtue of law”. Now you wouldnt expect the “Crown” to be divisible, so what has been divided are her “rights” but its not spelled out exactly what they are and where they would be defined. In addition surely its not the Queens “rights” that are being listed in the SEC register so all we must have is simply a “name” which is representative of what the Crown is in New Zealand. So what exactly is going on here?
Posted on: Thu, 04 Dec 2014 07:54:20 +0000
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