The Trustees’ duties and powers are set out in the Trust Order.
Their work and the work carried out by the Trust’s management and staff must comply with the Order.
The Order sets out the process for the appointment of Trustees, including an election every three years.
The Order allows for three to seven Trustees. It also allows for the operations of subsidiaries for commercial activities and a Charitable Trust to administer community-purposes funding.
The Trustees’ duties and powers are set out in the Trust Order. Their work and the work carried out by the Trust’s management and staff must comply with the Order. The Order sets out the process for the appointment of Trustees, including an election every three years by postal ballot. In 2016, the Trust changed to a rotation policy whereby five Trustees (the longest serving) retire, and the remaining six continue for a further three-year term. Those retiring may seek re-election.
In 2019, the Trust Order was amended to allow for a reduction in the number of Trustees from 11 to 7.
While the Trust Order allows for other business and development opportunities, hence the establishment of Tupu Angitu Ltd, the core business remains forestry.
The Order allows for the operations of subsidiaries, and these subsidiaries are used for forestry, investment, and commercial arms of the Trust’s business. It also allows for community-purposes funding to be administered through the Lake Taupō Charitable Trust.
All authorities for payments from the Trust’s funds originate in the Trust Order.
Among other details, it sets out:
