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Trust changes its name to reflect business model - By Mick Jensen PDF Print E-mail
September 7th 2018 - The Braided Rivers Community Trust has been chosen as the new name for Ashburton Licensing Trust (ALT). For a number of years ALT has not issued liquor licences, as its name suggests, and has been referred to as Ashburton Trust.
The Braided Rivers Community Trust name is likely to take formal affect from early November, once a well defined process, including a public notification, has been followed.
The name change reflects the change in business model and direction of ALT since early 2016.
A new trust deed will convert the current operation from a licensing trust legal structure to that of a community trust.
ALT president Fay Watson said legislation facilitated the change and meant the trust's assets could continue to grow and be used to benefit the community.
The change to a community trust structure better reflected the fact that ALT's main source of income no longer came directly from operating traditional hospitality venues, but primarily from rental income.
Mrs Watson said the community ownership and control of the trust would not change, just the name.
There would be no impact on the Lion Foundation grants distributed here.
The new name required the words ``community trust'' to be included and "Braided Rivers'' had been chosen to reflect the roots of the Mid Canterbury Plains, she said.
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