03-Apr-2010

Beneficiary Vote for Special Resolutions to Amend Trust Deed




Over the past year, Trustees have been engaging in a process to rationalise and streamline the functioning of the Ngāti Mutunga o Wharekauri Iwi Trust. 

After a series of consultation hui and the AGM rounds held in 2009, Trustees received a clear message from beneficiaries to reduce trustee numbers to a level that would:

Increase consensus decision making without compromising rigorous Trustee scrutiny of decisions before them
Reflect the population spread of trustees
Increase competition for trustee positions
Ensure appropriate Wharekauri based representation
Reduce costs to the Trust
Simplify election rules and processes.  

By special resolution, on March 10 2010, Trustees voted to reduce Trustee numbers from 9 to 7 by reducing Wharekauri Trustee representation from 7 to 5. The two New Zealand based trustee positions will not be affected by the proposed Trust Deed changes.   

Trustees have also voted to amend the Trust deed to streamline all voting processes, by requiring an independent electoral returning officer be appointed for all electoral processes of the Iwi Trust.  Currently this is split between an independent returning officer and the Trust Secretary.

Any changes to the Trust Deed must not affect the Mandated Iwi Organisation (MIO) and charitable status of the Iwi Trust. The Iwi Trust sought independent legal advice that confirmed the amendments will not affect Charitable and MIO status of the Trust.  Confirmation of the legal advice can be viewed on our website at www.nmow.co.nz. 

A Special General Meeting to consider the proposed Trust Deed amendments has been scheduled for:

Date: Thursday 22 April 2010
Time: 5:30pm
Location: Whakamaharatanga Marae, Te One, Wharekauri

Beneficiaries can either cast their vote for the amendments at the Special General Meeting, or return their voting form in the enclosed self addressed envelope.  Ballots by mail must be received by the returning officer no later than 5:00pm on Thursday 22 April 2010.

Trust Deed Changes in Brief:

To Reduce Chatham Island trustee numbers from 7 to 5 by amending clause 11.2 and 11.2 of the Trust Deed;
To Amend Schedule 3, clause 2.9 requiring the returning officer to be an independent person who is not a beneficiary of the Iwi Trust
To Amend Schedule 4, clauses 1.1, 1.2, 1.4, 1.5 and 1.6 of the Trust Deed to align all voting processes in the provisions provided in Schedule 3 relating to the Returning Officer.