NEW ZEALAND GAZETTE

18 JULY

1841

Addition of Sucralose to Electrolyte Drink Bases and Electrolyte Drinks (A309). An application (A309) received on 14 May 1996 from Johnson and Johnson Pacific Pty Limited to allow the use of Sucralose in electrolyte drinks and electrolyte drink bases.

Addition of Sucralose in Chewing Gum (A310). An application (A310) received on 14 May 1996 from Johnson and Johnson Pacific Pty Limited to allow the use of Sucralose in chewing gum.

(Sucralose is an artificial sweetener which is currently approved for use in a number of foods.)

GN=4540

Trust Bank Bay of Plenty Community Trust Incorporated

Trustee Banks Restructuring Act 1988

Trust Particulars

The Trust Bank Bay of Plenty Community Trust was incorporated on 5 August 1988 as a charitable trust in accordance with the provisions of the Trustee Banks Restructuring Act 1988. The purpose of the community trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.

Trustees:

Mr R. B. Tait (Chairman), Mr J. M. Black, Mr T. A. Currie, Mr S. J. Edward, Mr P. J. Howard, Ms H. P. Jones, Mr E. E. Ogier, Mrs M. E. Rex Benner, Mr B. J. Scantlebury, Mrs G. P. Searancke, Mr T. Te Heuheu, Mr L. Thurston and Mrs M. B. Townshend.

Secretary:

Mr A. T. Short.

Bankers:

Trust Bank Bay of Plenty, Tauranga.

Auditor:

Ingham Mora Malcolm & Russell, Tauranga.

Chairman’s Report for the Year Ended 31 March 1996

Objectives of the Trust:

To receive income and allocate such income for charitable, cultural, philanthropic, recreational and other purposes, being purposes beneficial to the community principally in the Bay of Plenty area.

Policies and Structure of the Trust:

A charitable trust designed to administer capital and distribute income for charitable purposes in the Bay of Plenty area.

Activities of the Trust:

The 1995–96 financial year of the trust has seen record dividends being received from the trust’s key investment in Trust Bank New Zealand Limited (TBNZ). Dividends received totalled $3,210,000, which is an increase on the previous year of $1,312,143. The increased net funds available after operating costs and investments has permitted the trust to donate a total of $1,188,636 and to exercise some new initiatives in the donation process. Over and above the normal donations round, the trust has donated to employment related projects in the Bay of Plenty region under the umbrella of Business Grow and Task Force Green. The trust’s annual Dillon Memorial Scholarship to assist disabled persons to attain tertiary education continues to be well supported with very worthwhile results being achieved.

Late in the 1995–96 year, the board of trustees, along with other community trust trustees throughout New Zealand, was extensively involved in considering share purchase offers for its TBNZ shares. A decision has been made “post balance date”, to accept a specific share purchase offer and my statement later in these annual accounts gives background to that decision.

Review of Results and Financial Position of the Trust:

The trust’s net income for the year ended 31 March 1996 reflects the higher dividend earnings coming from TBNZ operations and the increased shareholding stemming from the TBNZ 1994 bonus share issue. Net income after operating costs and donations totals $2,041,082. This is a record for the trust and has been achieved after increased operating costs brought about by TBNZ share investment matters and the setting up of a trust office in Tauranga. The latter decision has proved to be a wise one as the increased business of the trust in the new financial year and subsequent years will accelerate considerably due to additional investment capital coming to hand.

Thanks and Appreciation

I take this opportunity of recording my grateful thanks to my fellow trustees and to the trust secretary for the considerable time and effort expended during a busy and eventful year.

ROB TAIT, Chairman.

Income and Expenditure Account for the Year Ended 31 March 1996