Coffey Tāmati; Salesa JennyTĀMATI COFFEY (Labour): Thank you Mr Speaker. I am very happy to take a call on this bill. Can I just thank the submitters into the process thank the Governance and Administration Committee who examined the bill and thank the few people that submitted on it. It's not a huge bill but obviously it's very significant for the people of New Plymouth in wanting to make sure that this perpetual investment fund that they've got is actually fit for purpose now and into the future.I connect with this bill actually. For some years I sat on the Rotorua Energy Charitable Trust which came from the sales of power shares back in the day. That was an investment fund that was put in front of the community. We grew that pot as a community over the years and now it is a very large sum of money. It's very carefully looked after by a very capable board of governors that sit over the top of it. So I know the benefits that this can produce. I know that at home our Rotorua trust distributes around $4 million a year back out to the community in a safe and responsible way to ensure there's the vibrancy and there are facilities for the community to play sports in to do recreation in. Those kinds of things make a real difference for a community and I can only imagine that this bill is going to be able again in New Plymouth to create a really responsible management over the fund make sure that it doesn't deplete too much as we saw in the global financial crisis and ensure that the people and the whānau the community that live in New Plymouth are able to have a fund which is theirs and that is looked after for their own benefit and purpose.Just a grand total of five submissions—one from the New Plymouth District Council one from New Plymouth Perpetual Investment Fund Guardians Ltd one from the very capable MP for New Plymouth who's going to win again after October the seat of New Plymouth—Hon Member: Go Glen Bennett!TĀMATI COFFEY: His name is Glen Bennett—a very very capable member of Parliament and actually responsible for championing this here through the House. He is the sponsor of the bill and he did make a submission. Then there were a couple of individual submitters that jumped into that process as well. The general feeling was that they supported the bill. They wanted to ensure that the Perpetual Investment Fund was appropriately managed and that investment decisions were made independently of councillors and their interests. I want to use this as an example too. In my time sitting on the Rotorua Energy Charitable Trust one of the things that we were really certain about was making sure that it wasn't a slush fund for the local council. We wanted to make sure that actually it was a fund that was for the community from the community and having councillors in there kind of made it—you know there were a few members of the community that were really concerned that it would actually just end up being another bank account for the council to be able to use. Knowing that we had submissions into the process that talked to that—that really prioritised having that independence from council and independence from councillors—I think is a really important point to note. So this is a good piece of legislation. It's come before the House. I thank the few people that submitted into the process. I thank the New Plymouth District Council for bringing it in. I'll just chuck in my little New Plymouth story as well which is that my whānau—the Coffey name actually—comes from Rāhotu. We have a lot of whānau that still continue to live up there and the name has carried on through the generations. New Plymouth is a beautiful part of the country. It deserves the very best and for that reason I commend it to the House.ASSISTANT SPEAKER (Hon Jenny Salesa): The next call is a split call. I call Tama Potaka—five minutes.