Corporate Governance

Corporate Governance

The Port of Milford Haven is a Trust Port, a statutory entity that was brought into existence by a specific Act of Parliament – The Milford Haven Conservancy Act 1958.  There have been subsequent acts of Parliament to amend this original act, with the result that the following acts of Parliament essentially encompass the entire body of legislation and consolidate the various acts that constitute the Port in its present form:

Milford Haven Conservancy Act 1983
Milford Haven Port Authority Act 1986
Milford Haven Port Authority Harbour Revision Order 2000
Milford Haven Port Authority Act 2002

Like the Memorandum and Articles of Association of a conventional trading company, these Acts are the constitution for the Port, defining what it may or may not do, and how it governs itself in terms of appointing its Board and conducting its affairs.  The Acts confer certain powers on the Port within the defined port limits, for example in relation to setting the rules for navigation, the power for directing vessels and powers of compulsory acquisition.  It also confers obligations, such as the obligation to maintain, improve, protect and regulate navigation, and rights, such as the right to levy charges.

The Port of Milford Haven is therefore an independent statutory undertaking not owned by anybody. The Port does not pay out any dividends to third parties, and nor does it receive direct budgetary support from government.  

In addition to the MHPA Acts, the Department for Transport has over the years developed a body of guidance for trust ports, the most recent iteration of which is entitled “Modernising Trust Ports – Second Edition” and referred to generally as MTP2.  This guidance, which does not have any legal force, nonetheless authoritatively sets out standards for governance, engagement with stakeholders and commercial operation of the port, with which all trust ports are expected broadly to comply.  The obligation on the Port therefore is (1) first and foremost to comply with the MHPA Acts as a fundamental legal requirement and (2) operate so far as reasonably practicable and relevant to the particular circumstances of Milford Haven, in accordance with the guidance set out in MTP2.  These are all public documents and may be sourced either from the Department for Transport website or from www.legislation.gov.uk