Public trust

The concept of the public trust relates back to the origins of democratic government and its seminal idea that within the public lies the true power and future of a society; therefore, whatever trust the public places in its officials must be respected.

One of the reasons that bribery is regarded as a notorious evil is that it contributes to a culture of political corruption in which the public trust is eroded. Other issues related to political corruption or betrayal of public trust are lobbying, special interest groups and the public cartel.

Use in the Philippines

In the Philippines, "betrayal of public trust" is one of the impeachable offenses. In Francisco, Jr. vs. Nagmamalasakit na mga Manananggol ng mga Manggagawang Pilipino, Inc., the Supreme Court of the Philippines ruled that the definition of "betrayal of public trust" is "a non-justiciable political question which is beyond the scope of its judicial power" under the Constitution. It did not prescribe which branch of government has the power to define it, but implies that Congress, which handles impeachment cases, has the power to do so.

Public Trustee (New Zealand)

The Public Trust of New Zealand was a government appointed corporation sole providing Trustee services to those unwilling to use private services, or required by the courts or legislation to use the Public Trustee. From 2001 Public Trust ceased to be a corporation sole, adopting a structure similar to a company as a crown entity, and was renamed Public Trust. It administers 50,000 estates, trusts, funds and agencies.

History

Origins 1870-1873

In early New Zealand, where, mortality was high, literacy low, the population mobile, but travel and communications difficult there were problems getting reliable volunteers to be Trustees, that is to look after assets, (usually an estate where the beneficiaries are minors). Similar problems occurred in Australia, where in 1860 George Webster, now a New Zealand member of parliament had attempted to found a state trustee in Victoria.

In 1870 when the country was less than 30 years old, a member of Parliament, Edward Cephas John Stevens, suggested a state backed trust to colonial treasurer Julius Vogel, during a casual conversation about a case where a private trustee had embezzled money. The pair were apparently unaware of Webster’s earlier proposal.