New Law Modernises Public Trust
Wednesday, 12 December 2001, 8:59 am
Press Release: New Zealand Government
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hampered Public Trust with a range of outdated rules.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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