This private bill varies the terms of trust for Trust Horizon, a charitable trust created under the energy sector reforms of the Energy Companies Act 1992, whose objects are currently limited to energy-related purposes in Whakatāne, Kawerau, Ōpōtiki and Kaingaroa. Its general policy statement says there is a natural limit to the energy-related purposes available in the district, so the annual total of grants approved has stayed largely static over 30 years even as the population grew, and the Trust has accumulated equity it cannot distribute — more than $200 million in assets — while the district contains some of New Zealand's most deprived areas and many charitable causes needing support. The bill broadens the Trust's objects to include any charitable purpose within that district. It is before Parliament: it passed its first reading on 11 March 2026 and its second reading on the voices on 5 August 2026.
This private bill varies the terms of Trust Horizon, a charitable trust set up under the Energy Companies Act 1992 whose objects are currently limited to energy-related purposes within the Whakatane, Kawerau, Opotiki, and Kaingaroa district. Because there is a natural limit to energy-related causes in the district, the trust has accumulated more than $200 million in assets it cannot fully distribute, while the district contains some of New Zealand's most deprived areas. The bill would broaden the trust's purposes so it can fund any charitable purpose within its district.
Supporters argue that freeing the trust to support a wider range of local charitable causes lets long-idle funds benefit communities that need them. Others may consider whether the change respects the original intent of those who established the trust and its beneficiaries, and whether appropriate governance and district limits remain in place once the purposes are widened.
See the Parliament.nz ↗ site for the full bill.