GUIDELINES
4.1 Annual Meeting
4.1.1 The trustees shall hold an
Annual Meeting of the Beneficiaries, within four (4) months after
the end of each Financial Year, to:
(a) report on the operations of the
Trusts during the preceding Financial Year (Trust Deed 12.7);
and
(b) report on the Financial
Statements of the Trust for that Financial Year; and
(c) report on the company's
compliance with the Statement of Corporate Intent; and
(d) record the election of two
Trustees; and
(e) appoint an Auditor by a simply
majority of votes; and
(f) to fix the remuneration or
determine the way remuneration shall be fixed, of the Auditor.
(g) fix the remuneration of the
Trustees for the coming year; and
(h) review the Code of Practice;
and
(i) allow Beneficiaries reasonable
opportunity to question, discuss, or comment on the management of
the trust.
4.1.2 Beneficiaries will be provided
with at least 14 days notice of every meeting.
4.1.3 Beneficiaries will be provided
with the opportunity for postal voting.
4.1.4 A quorum at the Annual Meeting
will be 20 Beneficiaries.
4.2 Trustees to prepare audited
Financial Statements
4.2.1 The Trustees shall, within
four (4) months after the end of each Financial Year of the trust,
prepare Financial Statements with respect to the affairs of the
Trust.
4.3 Publishing Financial Statements
and Audit Report
4.3.1 The Trustees shall make the
Financial Statements and the Auditor's Report available to the
Beneficiaries
(a) for inspection at the Trust
office (during office hours) free of charge; and
(b) for purchase at a reasonable
price.
(c) the Trustees shall publicly
notify the Beneficiaries that copies are available to them.
4.4 Annual Report
4.4.1 The trustees shall prepare an
Annual Report for the Beneficiaries. The Annual Report shall:
(a) describe the key features of the
previous year's operation; and
(b) assess the performance of the
Trust; and
(c) be forwarded to all
Beneficiaries.
4.4.2 Minutes of the previous annual
meeting will be distributed with the Annual Report.
4.5 Disputes Procedure
4.5.1 Where a beneficiary wishes to
complain about the decisions or operation of the Trust they may do
so by voicing their concern direct to the Trust Secretary., either
verbally or in writing.
4.5.2 All complaints shall be dealt
with fairly and efficiently.
4.5.3 The Secretary or Chairperson
(or a substitute if necessary) will attempt to resolve the
complaint expeditiously.
4.5.4 If the matter is not able to
be resolved verbally the Secretary or Chairperson will invite the
beneficiary to lodge his or her complaint in writing to the full
Trust and following the receipt of a complaint in writing the
Trustees shall respond in writing to the complaint
4.5.5 For complaints not
satisfactorily resolved the Beneficiaries may refer their dispute
to The Public Trust of New Zealand who have been appointed in an
advisory capacity and are available to Beneficiaries for a review
of their dispute.
4.6 Communication with
Beneficiaries
4.6.1 In addition to the annual
reporting requirements, Trustees will make every effort to
communicate with their Beneficiaries at least once a year (also by
access to the Trust's website on the Internet) to inform
Beneficiaries of the operation and activities of the Trust.
The Code of Practice will be
available free of charge and on the Trust's website.