September 12, 2012
Commercial board call endorsed by Port Nicholson acting chair
The acting chair of the Port Nicholson Settlement Trust, Mahara Okeroa, has welcomed a call for a separate board to manage the trust’s commercial affairs.
Beneficiaries at the trust’s annual meeting voted unanimously for such a board as a way to address allegations that the partner of former chair Sir Ngatata Love sought consultancy fees from the trust’s business partners.
Sir Ngatata has stood aside while similar allegations relating to the Wellington Tenths Trust are probed by the Serious Fraud Office, but he has been reelected to his seat.
Mr Okeroa, a former MP, says trustees will consider the board idea at their first meeting next month.
"I personally think it’s a good idea. We are not the first iwi to have issues around such matters. It’s always a good principle to follow, the separation of governance from the operations, but the governance has the responsibility, they have the final say, so there is reporting back on every level," he says.
Mr Okeroa says the Port Nicholson Settlement Trust already has an economic working group which could be enhanced to take on the new role.