Notice to consumer beneficiaries RE: KCT distribution
Trustees have been working on updating the Trust Deed for four years now and have identified a number of issues that have been forwarded to the High Court for review. One of those issues is a slight change to the definition of consumer beneficiary, which is essential if KCT wishes to distribute annually to all consumers through their electricity accounts.
Trustees considered it prudent to suspend all distributions until the outcome of that review is known, which should be by the end of this year. Trustees acknowledge that our beneficiaries are under pressure but rest assured, funds allotted for this year will be distributed as soon as practically possible.
While this is frustrating to Trustees and consumer beneficiaries alike, the intention of the Trust Deed Review is to future-proof distribution mechanisms for the long term.
Chairman of the King Country Trust