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New Law Modernises Public Trust

11 December 2001

A new Public Trust Bill passed tonight will modernise Public Trust, Minister in charge of the Public Trust Jim Anderton said.

He said the new legislation gives Public Trust new governance arrangements and much improved flexibility.

“The new governance arrangements are necessary because the last Government hampered Public Trust with a range of outdated rules.

“Public Trust’s financial results declined because of the inaction.

"I believe Public Trust is a fundamentally sound business that has been paying the price for operating too long with its hands tied behind its back.

"This government has given Public Trust the means to be a successful public enterprise,” Jim Anderton said.

Ends

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