McKelvie Ian; Tisch LindsayIAN McKELVIE (National—Rangitīkei): It gives me pleasure to speak on the third reading of the Papawai and Kaikokirikiri Trusts Amendment Bill. There is a number of things that I want to address before I start. One is that I have spent the last couple of hours since I learnt I was speaking on this bill searching the internet. I was not searching to see how Donald Trump was doing; I was searching for that whakapapa to Papawai that certainly Jo Hayes talked about and many others have. I could not find any so I apologise for that. Like Alastair Scott I am going to have to get there in the future—I am relying on future generations. I am also going to have to speak to the English version of this bill because I certainly would not be able to understand the other one and I apologise for that but I am very pleased that it is currently in English.This is a very topical thing today and before I get onto that I want to congratulate Alastair Scott for bringing this bill to Parliament. Although I did hear him say that he has little to do with the bill in fact he has brought it here he is the member for Wairarapa and he is representing the people of Wairarapa in doing so and I think that is really important. I also want to quickly acknowledge Nuk Korako and the members of the Māori Affairs Committee for speedily expediting this bill through the House. I think that these little things are aggravating and unless they get pushed through in a reasonable fashion—and obviously with the agreement of everyone—then I think they are difficult.I want to just talk very briefly about trusts because in this morning's paper there is a very interesting headline that says: Ignorant trustees run risk of nasty surprise in court". I am not for a minute talking about the trustees of the Papawai and Kaikokirikiri trusts but it is interesting that many trusts in New Zealand have been let go I guess. They brought up some interesting statistics about that in the course of this article this morning and I think it applies to many trusts in New Zealand at the moment. Some of the statistics were that a third of trustees did not know the contents of the trust deed they were administering over half did not keep an up-to-date minute book and only 60 percent of them met annually. That is pretty staggering when you think about the fact that there are half a million trusts in New Zealand set up for all sorts of reasons.Many of them were set up in answer to Government legislation to protect either assets or people. A large number of them are set up to ensure older family members are looked after and protected by their trustees. Interestingly taxation legislation throughout the ages has influenced the formation of many trusts. Right now I think you will find there are discrepancies—not discrepancies necessarily; there might be deliberate discrepancies—in the tax legislation that actually penalise trusts to some extent. In other words they are taxed at a greater rate than companies or individuals even. So there are all sorts of influences quite outside of the normal course of events that influence trusts being set up. I think that is interesting and in some ways it causes the large large number of trusts—and as I said half a million trusts in New Zealand have been set up for various reasons. Many of those trusts are charitable; many are not. This trust is a charitable trust. Also many of the trusts set up in New Zealand throughout history have been primarily for education purposes. This is another one of those trusts.I want to go back to the fact that this trust was set up in 1943 and I guess that this is the first time that it has been back through Parliament. It was set up by a 1943 Act and this is the first time it has been back through Parliament to be reviewed since then so the trustees have certainly done a pretty good job throughout the history of this trust because it is still in existence and still pretty strong. I want to congratulate those trustees both those who have served before and those who serve now because I think it is a pretty significant effort to have kept a trust going for this length of time and to have it in such a state that it can come back to Parliament to be renewed for future generations and to enable them to use the proceeds of that trust for whatever they see fit for their people particularly for education purposes.I myself was educated through an Anglican school. My electorate the Rangitīkei has a large number of Anglican schools in it and a number of boarding schools of Anglican origin. We also have the odd Catholic one and I imagine that this has freed up a bit of cash for the Anglicans to give to the Catholics which is a little unfortunate but we will forgive them. I imagine that particularly with a school like Hato Pāora College which is owned by the Catholic Church no doubt the Anglicans are going to part with a bit of cash. I also remember in my younger days spending a fair bit of time playing rugby against Te Aute College. They were always a lot bigger than I was those fellas so obviously in the Wairarapa they fed them pretty well as well. But it is an interesting piece of our history the fact that we have education. Also in my electorate we had the Turakina Māori Girls College which very recently closed—another Anglican school which was set up first of all in Turakina and then moved to Marton.But I think what we should remember is that education like life has changed dramatically. So the reasons that this trust was set up in 1943—to provide education for the young people of the Wairarapa and particularly Ngāti Kahungunu—have changed dramatically. Now there are different reasons for us to need to distribute income. It is still equally as important that we give our rural children particularly the opportunity to attend boarding schools because in many parts of our more remote electorates it is very difficult for families to get their children away to school and get them back on the same day. Having the opportunity to send our remoter rural children to boarding school is hugely important and I imagine that that is one of the objectives this trust will have in some way in the future. I think that is a really exciting opportunity for the trust too.I want to congratulate all those who have brought the trust back to Parliament in this form with a view to giving it a new life. Most trusts in New Zealand are set up with an 80-year lifespan. It is quite easy to see that trustees or beneficiaries even seldom last that long. Often these trusts wind up early see significant change or even require resettlements. That is an alternative of course for a trust like this: to resettle in a different form. I think Nuk Korako informed me earlier that in order to bring this legislation back to Parliament and run it in dual languages it had to actually start again because effectively you cannot change legislation half-way through the system and change the language structure of it. For it to be reinvented in Te Reo and English it is going to have to come back to Parliament and recommence its lifespan—I guess a little bit like a resettlement. It is not so long ago in fact that we had the Waitangi National Trust through this Parliament for a little modification and I guess that is another such example where the deed had passed its use-by date and needed restructuring. The structure of many trusts' governance modes is no longer suitable in this day and age. Changes by the trustees courtesy of this bill presented to Parliament by Wairarapa MP Mr Scott—I just want to talk a little bit about those changes and what they hope to achieve. I think the really important thing is that they enable our young to have an opportunity they may otherwise not have had. I think the other objective of this bill is to spread the opportunity for the trustees to distribute income and I notice that the Rangitāne have got their opportunity to get their hands on a little bit of this cash. I just hope the Rangitāne o Manawatu are not coming over the hill to try to nick a bit of it—but I am sure they would not do that. I think it is very interesting because as someone said to Alastair Scott a little earlier we do not know what is going to happen to future generations of our families so it is best we are prepared for all eventualities.I think that this kind of trust and the history it brings with it to Parliament are what New Zealand is all about and I think it is really important that this House is able to give these sorts of trusts the opportunity to reinvent themselves and create I guess a place in modern New Zealand where they can serve their people give them opportunity and enable them to make the best of what I think is an extraordinary country. So I just want to very briefly congratulate the trustees once again and the member who brought this bill to the House. It has been very interesting for me to speak at such short notice on a bill like this but I congratulate everyone commend it to the House and hope it makes very good progress in the future.The ASSISTANT SPEAKER (Lindsay Tisch): The next call is a split call. Marama Davidson—5 minutes."