St Peter’s Parish Endowment Fund Trust Bill

Members, the House is in committee on the St Peter’s Parish Endowment Fund Trust Bill. We come first to the debate—

💬 Glen Bennett: A point of order, Madam Chair. I move that all provisions be read as one—be taken as one question.

CHAIRPERSON (Hon Jacqui Dean): Leave is sought for that purpose. Is there any objection? There is none. The question is that the preamble and clauses 1 to 10 stand part.

In what I suspect will be a fairly brief committee of the whole House stage, because we’ve had a good discussion during the second reading—

💬 Chris Penk: Just you wait—just you wait!

Well, Mr O’Connor told me he’d be brief. But I only had just the two matters I wanted to raise here to make sure we cover them off, and they were the two matters that the select committee took advice on.

The first of those was around the additional distribution option within clause 5, and that relates to the question of exceptional circumstances. There was some discussion around whether or not there needed to be some criteria for that, whether there needed to be some further definition around the question of exceptional circumstances.

The committee considered some proposals from the Ministry of Justice around that idea—as I said, a definition or perhaps revisiting the maximum rate, which is a distribution of up to 4 percent of the fund in each financial year, which is in the first part of clause 5. But in the end, the committee decided, having talked to the trust board and its advisers, that, actually, the criteria which follow in clause 5, which are listed off there—the needs of the parish, the investment strategy of the trust, the desirability of maintaining the capital of the fund, and any other relevant matters—was sufficient for dealing with that. I think that was a pragmatic decision, but important that the committee had the opportunity to go through that.

The other issue was around what would be caused in terms of interaction between this legislation and the Charitable Trusts Act and the Anglican Church Trusts Act and whether or not there would be a complexity in the relationship between those statutes and some consideration of whether or not it was desirable to repeal an existing private Act without any replacement legislation. In the end, the committee agreed with the proposal from the trust board and others that, actually, clause 9(1) makes clear that “Any future amendments to the trust deed may be made in accordance with the Anglican Church Trusts Act 1981 and, where applicable, the Charitable Trusts Act 1957.” So that covered off that concern. They were the only two matters that I wanted to draw to the attention of the committee.

As this will probably be one of the last moments that I speak on this bill, I just want to acknowledge all of those who have spoken in the second reading and the first reading. I thought they were excellent contributions, and I think everybody has understood the kaupapa of this legislation well, and therefore it is time for it to be passed.

Preamble and clauses 1 to 10 agreed to.

Bill to be reported without amendment.

House resumed.

The committee has considered the St Peter’s Parish Endowment Fund Trust Bill and reports it without amendment. I move, That the report be adopted.

Motion agreed to.

Report adopted.

In accordance with a determination of the Business Committee, this bill is set down for third reading immediately.