The New Plymouth District Council (Waitara Lands) Act 2018 came into force on 17 March 2019.
Six representatives have been chosen for a Board to oversee the new Waitara Perpetual Community Fund, created as part of the Act. The Board members of the Waitara Perpetual Community Fund are:
- Pat Bodger (TKTM)
- Donna Eriwata (TKTM)
- Mawhaturia White (TKTM)
- Graham Armstrong (NPDC)
- Pauline Lockett (NPDC)
- Darrel Nicholas (NPDC)
NPDC and TKTM each selected three board members and an alternate. The positions were advertised and potential Board members interviewed.
The purpose of the fundThe Fund is comprised of all accumulated and future income allocated to the Council from the Waitara Endowment Land. The fund must be administered for the purpose of benefiting the Waitara community or any part of the Waitara community by the scheme of annual releases set out in the Act.
The functions and powers of the Board
The initial activities for the Board will be:
- Making recommendations to the Council on:
- The Council’s investment policy for the Waitara Perpetual Community Fund.
- The policy for determining the amount of annual releases from the Waitara Perpetual Fund
- Assessment of the issues of importance to the Waitara community or a part of the Waitara community (including social, economic, cultural and environmental issues
In the longer term, the Board will determine distributions from the annual release from the Waitara Perpetual Community Fund for each financial year. The initial amounts for distribution will likely be quite small, but over time is expected to be over $1m each financial year.
Obligations regarding Board appointees
The Act sets limitations on Board appointees. A person cannot be appointed a member if they:
- Are prohibited from being a director or promoter of, or being concerned or taking part in the management of, an incorporated or unincorporated body under the Companies Act 1993, the Financial Markets Conduct Act 2013, or the Takeovers Act 1993:
- Are person in respect of whom an order has been made under section 10, 11, 12, or 31 of the Protection of Personal and Property Rights Act 1988 that reflects adversely on the person’s—
(i) Competence to manage his or her own affairs in relation to his or her property; or
(ii) Capacity to make or to communicate decisions relating to any particular aspect or aspects of his or her personal care and welfare:
- Have been convicted of an offence punishable by imprisonment for a term of 2 years or more or of a crime involving dishonesty (within the meaning of the Crimes Act 1961), or has been sentenced to imprisonment for any other offence, unless that person has obtained a pardon, served the sentence, or otherwise suffered the penalty imposed on the person:
- Have been declared bankrupt and not discharged
- Have been removed from office as a trustee by a court at any time during the 10 years before the member’s appointment to the Board or during the member’s term
Frequency of meetings
Initially, the Board is expected to meet monthly or six-weekly. The meeting frequency is likely to decrease once the necessary policies and processes are in place.
Board members are entitled to receive remuneration for their services. Remuneration and board expenses are paid from the Waitara Perptual Community Fund.