Public Trust has administrative responsibility for the Public Trust Act 2001 and the Howard Estate Act 1978.
FUNCTIONS AND RESPONSIBILITIES
Public Trust was established as a statutory corporation under the Public Trust Act 2001 (PTA). Public Trust is a Crown Entity for the purposes of the Crown Entities Act 2004 and the Public Finance Act 1989.
Public Trust is New Zealand’s most enduring trustee organisation, providing independent and reliable trustee services since 1873.
Best known as New Zealand’s largest provider of Wills
and estate administration services, Public Trust also provides a range of products and services to help all New Zealanders grow and protect the important things in their lives. This includes trusts, home loans, conveyancing, savings and investments, enduring powers of attorney and insurance.
Public Trust’s principal functions are to:
- Develop, promote, conduct or otherwise participate in the business of providing comprehensive estate management and administration services, including associated legal, financial, and other services; and
- Carry out, perform, or otherwise fulfill functions conferred on Public Trust by the PTA or any other Act; and
- Carry out, perform, or otherwise fulfill other functions requested by the Responsible Minister, acting in agreement with the Minister of Finance, and agreed to by Public Trust; and
- Develop, promote, conduct, or otherwise participate in such other business as Public Trust determines with the approval of the Responsible Minister, acting in agreement with the Minister of Finance.
Public Trust’s objectives is to, in fulfilling its functions, have the principal objective of operating as an effective business, and to that end:
- Be as efficient as comparable businesses that are not owned by the Crown;
- Prudently manage its assets and liabilities;
- Maintain financial viability in the long-term;
- Be a good employer; and
- Be an organisation that exhibits a sense of social responsibility by having regard to the interests of the communities in which it operates.
The Board of Public Trust, which comprises not fewer than five nor more than nine members, is appointed by the Minister Responsible for Public Trust acting with the agreement of the Minister of Finance (together, the responsible Ministers). The Board currently has eight members.
The Chief Executive of Public Trust is appointed by the Board and may not be a member of the Board. The Chief Executive is responsible to the Board for the efficient and effective management of the affairs of Public Trust.
Public Trust consists of several different business groups, the main ones of which are:
Personal and Business
Personal and Business is responsible for Public Trust’s sales and service functions. It comprises network of 28 full time Customer Centres, 18 part time offices and one centralised Contact Centre in Christchurch.
Operations delivers professional service to Personal and Business and other internal customers relating to Wills, estates, trusts and agencies. It comprises three Service Centres situated in Auckland, Lower Hutt and Christchurch.
Corporate Trustee Services
Corporate Trustee Services is responsible for all Public Trust activities relating to corporate trusts and also provides management services to New Zealand Permanent Trustees Limited, its principal subsidiary.
Public Trust maintains customer files in respect of the products and services provided and the relationship with the customer.
In addition, Public Trust holds business information relevant to the operation of its business as described above.
DOCUMENTS RELATING TO DECISION-MAKING PROCESSES
Public Trust has documented policies and procedures that are generally stored electronically which concern decision making or recommendations with respect to the products and services offered by Public Trust and policies that guide staff in carrying out their responsibilities.
The following publications are available from http://www.publictrust.co.nz/more-information/publications.html:
- Statement of Intent
- Annual Report
- Interim Report
Public Trust Corporate Office
34 Shortland Street