Version as at 1 July 2024 Crown Entities Act 2004 Part 2 s 98 (e) complies with a direction given to the parent (to the extent that it relates to the subsidiary); and (f) does not pay directors of the subsidiary any compensation or other payment or benefit, on any basis, for ceasing for any reason to hold office; and (g) does not perform any of the parent’s statutorily independent functions; and (h) has a constitution and that the constitution contains a statement to the effect that the company is a Crown entity for the purposes of this Act; and (i) complies with the statutory requirements as to employees that apply to the parent; and (j) does not have a member of Parliament as a member. Section 97: amended, on 18 July 2013, by section 18 of the Crown Entities Amendment Act 2013 (2013 No 51). 98 Subsidiaries: rules applying only to statutory entities (1) A statutory entity (the parent) must ensure, to the extent that it is reasonably able to do so, that each of its Crown entity subsidiaries— (a) performs its functions— (i) efficiently and effectively; and (ii) in a manner consistent with the spirit of service to the public; and (iii) in collaboration with other public entities (within the meaning of that term in the Public Audit Act 2001) where practicable; and (b) pays remuneration to members of the subsidiary only at a rate and of a kind determined by the parent in accordance with the fees framework or after consulting with the responsible Minister; and (c) complies with the requirements as to chief executives set out in section 117 in the same way as the parent must do. (1A) [Repealed] (2) The requirements of this section are additional to those in section 97. Section 98(1): amended, on 18 July 2013, by section 19(1) of the Crown Entities Amendment Act 2013 (2013 No 51). Section 98(1)(a): replaced, on 18 July 2013, by section 19(2) of the Crown Entities Amendment Act 2013 (2013 No 51). Section 98(1)(c): amended, on 31 October 2018, by section 4(1) of the State Sector and Crown Entities Reform Act 2018 (2018 No 31). Section 98(1A): repealed, on 1 July 2022, by section 104 of the Pae Ora (Healthy Futures) Act 2022 (2022 No 30). 49