A local authority trading enterprise (LATE) was an organisation established in

New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 List of islands of New Zealand, smaller islands. It is the ...

under the Local Government Act 1974. The 1989 legislation assigned regional councils planning and funding responsibilities, but not the transport supplier function. It required regional councils or other territorial authorities either to divest their transport assets to the

private sector The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The ...

, or to establish a transport-related local authority trading enterprise. Local authority trading enterprises were replaced by

council-controlled organisation Council-controlled organisations (CCOs) 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 A ...

s under the Local Government Act 2002.

External links

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Definition of local authority trading enterprise (Repealed)
New Zealand business law {{NewZealand-law-stub