Government says Mineral Holdings Company registration errors were an honest administrative mistake and will be corrected.
THE Government has clarified that the company haus entry for the Solomon Islands Mineral Holdings Company was the result of an honest administrative mistake.
In a statement today, the Government said the registration process follows the normal procedure used for State-Owned Enterprises (SOEs), including the Solomon Islands Tower Company Limited and other SOEs, where shares are held under ministerial titles rather than in the names of individual office holders.
The statement adds even the Prime Minister should not be included and will be rectified.
However, the Government acknowledged that the company registration should have been carefully completed to avoid confusion and said the errors identified will be corrected.
The Government further clarified that the early registration of the company was undertaken in preparation for proposed amendments to the Mineral Resources Bill.
It said the corporate structure, governance arrangements and other details of the company will be clearly outlined in regulations.
“At the moment, the Register shows that the Company will use model rules. That will be changed to show that the Company will use owned-developed rules,” the statement said.
The Government said the necessary corrections will be made to ensure the company’s registration accurately reflects its intended ownership, governance and corporate structure.
OFFICE OF PRIME MINISTER PRESS RELEASE
