From time to time monies are paid into the Trust by BHP in accordance with the Olympic Dam Agreement.
The Trustee is Australian Executor Trustees Limited, a company with years experience in funds management. The role of the Trustee is to hold the funds in trust, and to administer the Trust in accordance with the Trust Deed.
The Main Trust
Applicants to the Main Trust can be Barngarla, Kokatha and Kuyani peoples, (as defined in the Trust Deed) plus any Aboriginal person living in a defined northern region of South Australia (as defined in the Trust Deed).
The Trust Advisory Council (TAC)
In accordance with the Trust Deed, the application of funds from the Main Trust must first be considered by the Trust Advisory Council (TAC). The TAC is an independent group comprising 2 members from each of Barngarla, Kokatha and Kuyani, plus 2 representatives from BHP.
The TAC makes recommendations to the Trustee about how the funds should be applied.
The Trustee makes the final decision.
In some instances, the Trust will run a series of advertisements calling for applicants ie University Scholarships.
The TAC considers each application and then makes recommendations to the Trustee about how the funds should be used.
Once the recommendations have been approved, the Trustee makes the necessary payment(s).
CODE OF CONDUCT FOR MEMBERS OF THE TRUST ADVISORY COUNCIL
As Members of the Trust Advisory Council (TAC) established to advise the Trustee,
the undersigned agree to abide by the following Code of Conduct:
- We abide by the Rules of the TAC set out in the Olympic Dam Agreement and recognise that the Trustee is responsible for the management and administration of the Trust Fund.
- We respect each Member’s view and seek to provide advice to the Trustee by means of consensus based on fairness and equity to all applicants seeking funding from the Trust.
- Should any matter come before the TAC in which a Member has a potential conflict of interest, the member will declare the conflict, have it recorded in the minutes of the meeting and will not participate in the TAC’s deliberations on that matter.
- To encourage the efficient conduct of TAC business and to help those who may apply for Trust funds, Members will advise the Trustee on priorities for funding in accordance with the Charitable Objects and Purposes and Guiding Principles of the Trust and arrangements for the calling of applications, including adequate notification to potential applicants.
- TAC members must not advocate on behalf of an applicant once the Trustee has made his final decision.
- We seek to ensure that all applications for funding are considered expeditiously and that all applicants are informed in a timely manner of the outcome.
- We recognise that not all applicants agree with the advice of the TAC and the decisions of the Trustee. We expect that all applicants will treat the Members of the TAC, the Trustee and the Secretary to the TAC with respect. Any instances of inappropriate behaviour (threatening, abusive or intimidating) may result in applications not being further considered.
- Any applicant dissatisfied with the outcome of an application may make further representations about the matter in writing to the TAC Chair via the TAC Secretary.
- We behave respectfully to each other and to the wider community.
The code of conduct is signed by each member of the Trust Advisory Council being 2 representatives each from Barngarla, Kokatha, Kuyani and BHP.