On 23 February 2022, TECT received Sealed Orders for its proposed restructure which signalled the completion of the High Court process. This is an exciting moment that marks the end of a long process and provides TECT with the final green light to establish the new Community Trust. The trust will be operational from 1 April 2022, and has recently received charitable status.
The new structure balances protecting the annual rebate for existing beneficiaries, and the purpose TECT was established for; to provide long-term benefit for all the residents and communities of Tauranga and Western Bay.
Trustees are now working through next steps, including developing a long-term strategy for the Community Trust which is planned to launch in 2023.
During this process, Trustees will engage with the Tauranga and Western Bay community, and we will be in touch in due course with the details of the consultation process.
For more information on the proposal and changes please visit www.tect.org.nz.