We are progressing with the development of the PSGE, the draft structure is outlined below and aims to include the NgaiTakoto aspirations we had discussed with our members last year.
The structure ensures high levels of accountability and transparency – these matters will be covered in the PSGE trust deed (and other constitutional documents), but are fundamental to the process;
Beneficiaries/Marae representation and mechanisms for motivating the beneficiary/marae representatives to work towards the goals of the post settlement governance entity (PSGE) and collective NgaiTakoto vision.
Establishes an economic commercial arm that is highly accountable for its operations, with people that have expertise in investments, the ability to increase the asset base, and will ensure best practice processes are followed. Consideration is given to activities such as Forestry, Farming, Property development, and small business
A charitable trust will be created that will manage the social/cultural aspects of NgaiTakoto
Draft PSGE structure
Te Rūnanga o NgāiTakoto
- Private trust model
- 8 Trustees (interim arrangement)
- Compliant with Crown principles
- Flexibility to create companies and charitable trusts as needed
- Ability to move current mandated entity (NTRU Trust) into
the structure as the charitable trust
Work Task TWO – summary
- Revisit and redraft Trust Deed constitution, obtain ongoing specialist advice on Development, Ratification, Implementation and ramifications of a new NgaiTakoto Governance Entity;
- Obtain specialist advice on tax implications, transfer of assets to new Governance Entity; the establishment of the Governance Entity by July 2016 or prior too.
- Obtain Specialist Advice to develop revenue streams and enterprise opportunities at a micro and strategic level.
- Communications with IRD, accountants, lawyers, organisational development experts; Build in sufficient support to up-skill directors, trustees and potential candidates through programs like the institute of directors.
- Forecast budgets to administer the new entity