The Government has acknowledged an administrative error in the registration of the Solomon Islands Mineral Holdings Company, after the company’s registration details sparked public outcry on social media.
The issue has attracted widespread attention since yesterday, with members of the public questioning details recorded in the company’s registration.
In a statement, the Government said the entry in the Companies Register was the result of an “honest administrative mistake” and would be corrected.
It said the registration followed the usual procedure for State-Owned Enterprises (SOEs), including the Solomon Islands Tower Company Limited and other SOEs, where shares are registered under ministerial titles rather than the names of individual office holders.
It acknowledged, however, that the registration should have been carefully completed to avoid confusion.
The Government also clarified that the Prime Minister should not have been included in the company’s registration and that this error would be rectified.
It said the early registration of the Mineral Holdings Company was carried out in preparation for proposed amendments to the Mineral Resources Bill.
The Government said the company’s corporate structure, governance arrangements and other details would be clearly set out 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 own-developed rules,” the statement said.
It added the necessary corrections would be made to ensure the company’s registration accurately reflects its intended ownership, governance and corporate structure.
The corrections would also provide greater clarity and prevent further misunderstanding over the company’s structure and ownership, the Government says..
