What is a PSGE?
A Post-Settlement Government Entity (PSGE) is a legal entity that the Crown requires to be established to receive and manage the settlement assets for an on behalf of Ngati Tamaoho once we finally settle.
What Are the Crown Requirements for a PSGE?
It is up to us to establish our own PSGE, but the Crown do check our proposed PSGE against a set of “20 Questions”. Overall the Crown 20 Questions are aimed at making sure that the PSGE is representative, transparent and accountable to the people of Ngati Tamaoho.
Why do we have to do this in August?
Normally the PSGE would be set up at the same time that the Deed of Settlement is being finalised (hopefully in 2013 for Tamaoho), but we need to do it sooner because of any assets that the Trust may receive in relation to the Crown’s settlement with the Tamaki Collective.
What Work has the Board Done on a PSGE Proposal Already?
The Board has engaged specialist advisors to provide us with information and suggestions, and we attended a conference to get wider views. We have had a number of sessions on the various PSGE models and considered what might best work for Ngati Tamaoho for the future.
At this stage our advice is that the most common form and widely accepted PSGE is a trust (PSGE Trust). That Trust would have a set of rules, or Trust Deed, which defines its operations, who it acts for and how it works etc.
Why can’t we just continue to use our existing Trust?
We can keep the existing Trust, and we may want to do so, but the Crown will not allow assets to be handed over to a charitable trust, and we cannot move the assets of a charitable trust to anything that is not charitable; so we will have two organisations for a while at least.
We seek your feedback and views on these issues in particular, but do feel free to contact us about any matter relevant to our proposed PSGE.