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CI Enterprise Trust - Philosophy |
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The
Chatham Islands Enterprise Trust has formalized and adopted the following philosophy:
(i) Management of the Trust:
- To administer the trust's capital and assets prudently as
an endowment fund held on trust for the people of the Chatham
Islands.
- To adopt policies, use consultants, and build enterprises
which are appropriate to the small scale of the Chatham's economy.
- To take a long term view in planning, including the
acceptance of business trading losses in the initial years where longer term
viability is reasonably assured.
- To maintain the Head Office of the Trading Enterprise in
the Chatham Islands and to operate its business using Chatham Islands resources
to manage and staff the Enterprise where possible.
- To avoid investments in or guarantees to persons or
businesses on mainland New Zealand
undertaking a commercial service to the Chatham Islands.
- To recognize that a viable and growing fishing economy, a
sustainable farming economy, and an effective local government council are
pre-requisites to the success and commercial viability of the Trading
Enterprise.
(ii) Relationships
with the Chatham's
Community:
- To cooperate with the Chatham's community on each matter of
responsibility.
- To lead Chatham
Islands initiatives through information and public policy seminars.
- Consistent with commercial confidentiality, to maintain a
policy of "open information" on the Trading Enterprise's activities.
- Where there is radical change, to provide for support and
advice to islanders as part of the implementation of that change.
- To encourage and recognize individual enterprise through
the annual Enterprise Awards.
- To act as advocate for the economic interests of the
Chatham Islands, both in business and to Government in New Zealand.
(ii) Business Activities of the Trust:
- Not to compete in any area of commercial activity where a
competitive and fairly priced service is provided by private entrepreneurs unless
deemed to be in the best interest of the community.
- To Structure each enterprise, as nearly as possible, on a
fully commercial basis, with any subsidy or other support provided clearly and
separately where possible.
- To separate each business enterprise into a distinct
trading corporation, so that its activities, capital, revenue, and risk are
separate from the principal capital sum of the endowment trust.
- Where possible, to structure each business enterprise in a
way which permits individual Islanders to provide services within it as
independent contractors.
- To manage a portfolio of Chatham Island Quota with the
objective of maintaining and developing the Chatham's fishery.
(iii) Charitable
Role of the Trust:
- To encourage the development of Island
skills through education grants.
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