✨ Trustees' Rules and Appointment
NEW ZEALAND GAZETTE, No. 56
26 APRIL 2011
SECOND SCHEDULE: RULES GOVERNING THE APPOINTMENT OF THE TRUSTEES
1. Number of Trustees
1.1 The number of Trustees must be six except when:
(a) there is a casual vacancy; and
(b) an alternate is appointed under paragraph 3.
1.2 If at any time the number of Trustees falls below six, then, pending any new appointment, the continuing Trustees are empowered to act in all matters, notwithstanding the provisions of paragraph 1.1.
2. Appointment of new Trustees
2.1 The power of appointment of new Trustees is vested in the Minister for Climate Change Issues.
2.2 The Minister for Climate Change Issues also has the power to:
(a) remove any Trustee at any time and from time to time;
(b) replace any Trustee removed under paragraph 2.2(a); and
(c) appoint a new Trustee at any time,
provided that, except as provided in paragraph 1.1, the number of Trustees will at all times be no more nor less than six.
3. Alternate Trustees
If any Trustee is unable or unwilling to act in any manner or for a temporary period, the Minister for Climate Change Issues may appoint an alternate Trustee for that Trustee. The alternate Trustee will have all the powers and duties of a Trustee, subject to any limitations specified in the appointment and notwithstanding that there may already be six Trustees. A Trustee and an alternate for that Trustee may not act simultaneously on the same matter but may act at the same time on different matters.
4. Payment of Trustees
4.1 For the first Income Year, the chairperson will receive an annual fee equal to the highest amount payable under the Cabinet Circular Fees Framework (as modified, extended or replaced from time to time) for members appointed to bodies in which the Crown has an interest, in the fee category "Group 3a: Governance Boards, Level 5, Chair" as determined at 1 April each year.
4.2 For the first Income Year, each Trustee other than the chairperson will receive an annual fee equal to the highest amount payable under the Cabinet Circular Fees Framework (as modified, extended or replaced from time to time) for members appointed to bodies in which the Crown has an interest, in the fee category "Group 3a: Governance Boards, Level 5, Member" as determined at 1 April each year.
4.3 For subsequent Income Years, the Minister will assess the predicted workload of the Trust and will determine a reasonable annual fee for the chairperson and each Trustee other than the chairperson.
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NZ Gazette 2011, No 56
✨ LLM interpretation of page content
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Trustees' Powers under the Trust Deed
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🏢 State Enterprises & InsuranceTrust, Powers, Bank Accounts, Insurance, Debt Waiver, Fund Deposit, Income Management, Asset Protection
🏢 Rules Governing the Appointment of the Trustees
🏢 State Enterprises & InsuranceTrustees, Appointment, Rules, Vacancies, Alternates, Fees
- Minister for Climate Change Issues