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The Trust Deed of the Taranaki Electricity Trust is currently out for public consultation. 

The attached document outlines the proposed new trust deed intended for public consultation. The trust deed is an essential legal document that governs the operations and management of the Trust. While the Trust already has an existing deed, this updated version has been drafted to comply with recent changes to trust legislation (the Trusts Act 2019) and to modernise the language used. We invite feedback from the community to ensure transparency and inclusiveness.

Purpose of the Trust Deed

The primary purpose of the Trust Deed is to establish the framework within which the Trust will operate. It defines the roles and responsibilities of the trustees, the rights of the beneficiaries and the terms under which the Trust will be managed. This modernised deed aims to ensure that the Trust serves its intended charitable purposes effectively while adhering to current trust standards.

Key Provisions of the Trust Deed

1. Trustees’ Responsibilities: The new deed clarifies the duties and powers of the trustees, ensuring they act in the best interests of the beneficiaries and in accordance with the mandatory duties of the Trusts Act 2019.
2. Charitable Purpose: The new deed confirms the charitable purpose of the Trust and the trustees’ commitment to the wellbeing of all sections of the community in the area over which the former Taranaki Electric Power Board was authorised to supply electricity.
3. Amendments and Wind Up: The process for amending the Trust Deed and the conditions under which the Trust may be wound up are detailed to provide clarity and security.
4. Rules governing the appointment, retirement and proceedings of the Trustees: The new deed incorporates several amendments to the present rules, summarised as follows:
   1. Clarifies the eligibility requirements for trustees
   2. Sets a maximum tenure for Chairperson and Deputy Chairperson roles
   3. Clarifies the election process and system for the respective Wards
   4. Clarifies the role of the Executive Secretary
   5. Clarifies the process for appointing proxies
   6. Overall, modernises the language of the rules including allowing for meetings to be convened via audio-visual link and the option for electronic voting

 Consultation Process

We are committed to involving the community in this process. Feedback can be submitted via email (taret@xtra.co.nz), post (PO Box 163, Inglewood 4330), dropped off at the TET Office (84 Rata Street, Inglewood) or during public meetings scheduled for

• North Taranaki Sport & Recreation Inc, 17 Princess Street, Waitara, on Wednesday, 14 May 2025 at 7pm.
• TET MultiSports Centre, 62 Portia Street, Stratford, on Wednesday, 28 May at 7pm.
• TET Stadium and Events Centre, 1 Elliot Street, Inglewood on Tuesday, 3 June at 7pm.

We encourage all interested parties to review the proposed new trust deed and provide their input.

Contact Information

For any inquiries or to submit feedback, please contact the taret@xtra.co.nz or telephone 06-756-7563 (office hours Wednesday and Friday – 8.30am-1.30pm).

History

The Taranaki Electricity Trust (TET) is a charitable trust. TET was formed in 1993 when New Plymouth Energy merged with the Taranaki Electricity Power Board. It receives investment income which is distributed via grants to suitable applicants from the area previously supplied by the Taranaki Electric Power Board.

Trust Area

The Trust area is the area previously supplied by the old Taranaki Electric Power Board and extends to past Uruti in North Taranaki, includes Waitara, Inglewood, Stratford, Eltham and extends as far south as Te Roti. South of the mountain, the west boundary is Awatuna and the eastern boundary extends well inland past Whangamomona.

The Trust district is divided into two wards - Ward A and Ward B. Ward A is that area served by the Trust in the New Plymouth District Council area. Ward B is that area served by the Trust in the Stratford and South Taranaki District Council areas.

Policy of the Trust

The policy of the Trust is to distribute all of its budgeted available net income to suitable applicants by way of discretionary grants. By distributing funds to a wide range of applicants, it is hoped that the income will be returned to the community which originally built the power company.