Ryall on the Treaty Clause
Mr Ryall said the 1986 State Owned Enterprises Act was "old" and more recent legislation tended to use more specific Treaty clauses. The Treaty clause had not applied following the sales of Contact Energy in 1999 and other SOEs in the late 1980s and 1990s, although the specific land protection clauses had as they would under the mixed ownership models.
I read this: we did it wrong before, so it's alright if we do it wrong now.