Role of trustees
TECT is governed by six Trustees who are elected by Consumers for a 4-year term.
All Trustees are TrustPower customers who live in the Tauranga City or Western Bay of Plenty district. The terms of appointment of Trustees are staggered so that three Trustees retire every two years. An election of Trustees is being held in July 2012.
The Trustees, acting on behalf of the Consumers, and in accordance with the Trust Deed, are responsible for ensuring that the Trust operates according to its key roles and meets all its regulatory and legal requirements.
- Monitor and manage the Trust’s investment in TrustPower including evaluating corporate activities affecting TrustPower
- Manage TECT Group borrowings and other investments
- Allocate and distribute its annual income to Consumers via cheque payments
- Allocate and distribute its annual income to community organisations via TECT’s various funding schemes
- Review applications for funding and visit organisations regarding their projects
- Attend to matters relating to TECT’s funding schemes and requests for assistance from community organisations
- Communicate with Consumers and the general public on the Trust’s activities
- Attend to various miscellaneous matters