Appendix 1: Tertiary education institutions and their subsidiaries

Figure 14 presents a list of tertiary education institutions (TEIs) and their associated subsidiaries. We use the terms "parent" and "subsidiary" to indicate relationships having any level of shareholding or other form of ownership. This differs from the definition of those terms under NZ IAS 27: Consolidated and Separate Financial Statements, as applied for financial reporting purposes. It also differs from the definitions of "holding company" and "subsidiary" under the Companies Act 1993.

The nature of the relationships appears complex. We can see seven kinds of ownership relationships between TEIs and subsidiaries. A TEI can own:

• one or more jointly owned subsidiaries in partnership with at least one other entity (the other parent/s can include polytechnics, universities, schools, territorial local authorities, district health boards, or Crown research institutes);⁴⁰
• one or more individually owned subsidiaries;
• a subsidiary that owns a subsidiary, while also being a subsidiary of another subsidiary;
• a subsidiary of a subsidiary being jointly owned by another subsidiary;
• an individually owned subsidiary that owns one or more subsidiaries by itself;
• an individually owned subsidiary that owns one or more subsidiaries in partnership with at least one other entity; and
• a jointly owned subsidiary that owns one or more subsidiaries.

Figure 14
List of tertiary education institutions and their associated subsidiaries

40: In one instance, a subsidiary is owned by 16 TEIs.