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The OCEPT Deed determined that the funds from the sale of the lines/retail and the generation businesses had to be used for charitable purpose. To have paid out the $120 million to individual consumers, as many other power trusts had done, would require the trust deed to undergo a lengthy process of being rewritten.

In October 2000 voting papers were delivered to the community who were to decide the future of the OCEPT. The OCEPT’s board proposed that Central Lakes Charitable Trust be created so that each year charitable projects throughout Central Lakes would be supported; to enhance the community and the lives of the people within.

It was also proposed Central Electric consumers at the time receive a share of the $17.6m accumulated profits.

A consumer poll closed Saturday 4 November 2000, with nearly 70% of the 16,000 eligible voters casting their votes. 8,314 voted ‘yes’ to winding up OCEPT. A consumer distribution was made in December 2000 to each Central Electric customer based on their electricity consumption.

The six elected OCEPT trustees became the interim trustees of Central Lakes Trust (CLT) until the next scheduled trustee election in 2001.

The inaugural board meeting of CLT was held on 6 December 2000 at Cromwell’s Golden Gate Lodge, at this point the Trust was already handling a flurry of enquiries for funding.

Trustees 2000 - 2001 L to R: Dick Hill, Duncan Butcher, Graeme Bell, Don Spary, Mike Allison, Peter Mead


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