Whilst there has been no specific company structure requirement, all NPD projects to date have adopted a structure where the Project Company is a special purpose company limited by (non-dividend bearing) shares. The shares are held by the private sector investors with the exception of one "golden share" held by the Authority. This means that the Project Company is controlled by the private sector but the "golden share" gives the Authority certain controls that ensure that the core NPD principles, and governance structure, are protected. These controls are set out in the Project Company's articles of association.