council-controlled organisation

Council-controlled organisations and council-controlled trading organisations in New Zealand are what were formerly known as local authority trading enterprises (LATEs). Introduced under Sections 6 and 7 of the Local Government Act 2002, they are essentially any company with a majority council shareholding, or a trust or similar organisation with a majority of council-controlled votes or council-appointed trustees, unless designated otherwise. More than one council may be represented in a council-controlled organisation.