Version as at 1 July 2024 Crown Entities Act 2004 Part 2 s 94 Collective duties of board 92 Duty to act consistently with objectives, functions, statement of intent, and statement of performance expectations The board of a Crown entity company must ensure that the company acts in a manner consistent with its objectives, functions, current statement of intent, and current statement of performance expectations. Section 92 heading: amended, on 1 July 2014, by section 46(1) of the Crown Entities Amendment Act 2013 (2013 No 51). Section 92: amended, on 1 July 2014, by section 46(2) of the Crown Entities Amendment Act 2013 (2013 No 51). 93 Subsidiaries A Crown entity company must ensure that the company complies with sections 96 to 101. 94 Accountability for collective board duties (1) The duties of the board and members of a Crown entity company under sections 92 and 93 (collective duties) are duties owed to the shareholding Ministers. (2) If a board does not comply with any of its collective duties, all or any of the members may be removed from office. (3) However, subsection (2) does not apply to a member if— (a) he or she did not know and could not reasonably be expected to know that the duty was to be or was being breached; or (b) he or she took all reasonable steps in the circumstances to prevent the duty being breached. (4) A member is not liable for a breach of a collective duty under this Act, except for being removed from office as provided for in subsection (2). (5) This section does not affect any other ground for removing a member from office or section 156 of the Companies Act 1993 (which relates to the process for removal of a company director). (6) Subsection (4) does not affect— (a) anything else for which the member may be liable under any other Act or rule of law arising from the act or omission that constitutes the breach; or (b) the right to apply for a court order under the Companies Act 1993. 47