At its meeting in August 2009, the General Assembly passed a resolution that approved the draft trust indenture which set out the terms and conditions for the establishment of the Tr’ondëk Hwëch’in Trust (the “TH Trust”) and its operation and administration. The resolution also authorized the TH Council to transfer the financial compensation and investments of TH to the TH Trust, as appropriate.
The TH Trust is a legal body that is separate and independent from TH. It was established for the purpose of holding and managing the financial compensation assets and business investments of TH on behalf of TH citizens.
There are several benefits for TH’s assets and investments to be transferred to the TH Trust and managed by the trustees. Firstly, these assets and investments will be protected from any debts or liabilities of TH, unless they were encumbered by TH prior to the transfer.
Secondly, since the trustees are legally obliged to manage the assets in a transparent and accountable manner in accordance with the trust indenture, they will provide the appropriate attention and oversight to the management and administration of these assets without any political interference.
Lastly, there will be significant taxation benefits for the earnings generated by the assets and investments placed in the TH Trust.