Lakes Weekly Bulletin, August 14, 2024
Editorial: The risk is real
Cath Gilmour, chair of We Love Whakatipu Inc., asks why QLDC tried to divert council and community attention from the potential sale of Queenstown Airport Corp shares without community consultation.
The sale of as little as 0.02% of new shares would be enough for QLDC to lose its supermajority control of the airport company. But council’s draft Significance and Engagement Policy does not recognise the importance of its 75% ownership stake, so wouldn’t trigger community consultation if its ownership was diluted.
The sale of as little as 0.02% of new shares would be enough for QLDC to lose its supermajority control of the airport company. But council’s draft Significance and Engagement Policy does not recognise the importance of its 75% ownership stake, so wouldn’t trigger community consultation if the council’s ownership was diluted.
Given the problem is easy to fix, we wonder why the council executive pushes back and doesn’t simply amend the draft to close the loophole.
