History of NZAT (New Zealand Aeronautical Trusts Ltd)
In 1952 the Auckland Branch of the Royal Aeronautical Society, recognising that no lasting monument to Leo and Vivian Walsh had been established, set up an incorporated Society known as the Walsh Memorial Air Pageant Organisation. The purpose of which was to promote avenues whereby the names of Leo and Vivian Walsh would be perpetuated and their contribution to New Zealand's aviation history suitably recognised.
It was recognised that rather than an inanimate plinth or plaque, the objectives of the organisation could best be achieved by the establishment of annual scholarships in the name of the Walsh Brothers and in tribute to their flying and engineering skills that the awards should predominantly emphasise these two disciplines. This approach was warmly endorsed by the two surviving Walsh sisters who assisted their brothers in running the Flying School.
From small beginnings in 1952 and funded by the proceeds of an air pageant at Whenuapai and later supplemented by profits made from air pageants to mark the opening of Wellington and Auckland Airports, and the Aviation Showcase run at Hamilton, all of which were organised and run by the Walsh Organisation, a significant capital sum was accumulated.
It had been represented to the public and to the hundreds of volunteers, airwork people, aero clubs, RNZAF, RAF, RAAF, and overseas airforces and airlines who participated, that the proceeds would be set aside in trust for education and charitable purposes associated with the industry. The name of the Walsh Brothers, pioneers of New Zealand Aviation, was to be associated with the scholarships and grants made from the income earned on the capital fund.
The prime movers of the Walsh Memorial Organisation at that tme were all Auckland stalwarts of the Royal Aeronautical Society, including; Geoffrey Roberts, George Bolt, Doug Patterson, Les Brister, John Malcolm and others – many of whom reached the highest posts in New Zealand aviation. Doug Patterson was the driving force behind the whole concept. He provided the drive, enthusiasm, leadership and networking connections to ensure the success of the Walsh Memorial Organisation. In his role as chairman of the Organisation, Doug kept the activity together and focussed for nearly 30 years and in 1983 used the Organisation's expertise to raise a substantial sum to assist with the establishment of the Air Force Museum.
The Walsh Memorial Organisation then took guidance from the New Zealand Division of the Royal Aeronautical Society as to how best to put this capital fund beyond the reach of any later body who may cast an eye on it.
The then Divisional Council recommended a trust company and New Zealand Aeronautical Trusts Ltd be formed, modelled on the UK Aeronautical Trust Company. Barrie Hopkins, NZAT's honorary solicitor, attended the first meeting to work out the terms of the trust deed under which Walsh Memorial would pass over the funds from the Whenuapai and other Pageants. The early meetings were chaired by Sir Arthur Neville, then titular head of Civil Aviation in New Zealand, before Doug Patterson took over the chair.
New Zealand Aeronautical Trusts Ltd was incorporated in 1956 as a trustee company to hold the proceeds of the funds raised by the Walsh Memorial Air pageant Organisation.
The Royal Aeronautical Society Divisional Council gave more countrywide recognition to their activities, involving (from Wellington) George Carter, Edmond A Gibson, Tom Coleridge, Bertram Cornthwaite and George Woodward; and (from Christchurch) Arthur Smaill, Wilton Johnston and Arthur Brazier.
The Divisional Council was and remains the body which appoints the Directors of the Company.
For a list of current directors, click here.
The function of New Zealand Aeronautical Trusts Ltd is to act as trustees to hold and administer funds lodged with it and to abide by the terms of the several trusts declared at the time of receipt of moneys. Whilst founded on the back of the Walsh Memorial Organisation's efforts, it became convenient to also use the company as the custodian of other funds which were from time to time offered for specific purposes.
There awards and scholarships administered by NZAT, for which the Company holds capital funds, are all subject to a declared trust. Even the seemingly general funds are subject to the trusts of the Walsh Memorial Organisation which generated them.
For a list of awards administered by NZAT, click here.
The operations of New Zealand Aeronautical Trusts Ltd are quite independent of the Divisional Council, and the Directors alone are responsible for achieving the aims set down for the Company. The Company seeks to make present and future generations aware of the significant contribution these two Auckland brothers made to the development of civil aviation in New Zealand, and where appropriate to act as a vehicle for the management of later Trust funds for individuals acting independently or through the current Divisional Council of the Royal Aeronautical Society.
Income from the invested capital is all used in assisting young New Zealanders to improve their skills in their chosen field of civil aviation and in ways to perpetuate the names of the Walsh brothers.
Over the years since it was established, the Company has provided scholarships and financial assistance to many young people working in the aviation industry in New Zealand and the Pacific Islands.
It has also provided substantial financial assistance to the annual Walsh Memorial Flying School operated at Matamata each January by the Scout Association through which many young men and women have gained their "wings" to solo standard since the school started in 1967. Some of these pupils have come back to the school in subsequent years and have undertaken more advanced flying.
The school benefited by the Charles Todd Memorial Scholarship through the generosity of the Todd Foundation commemorating Charles Todd, one of the pupils trained in the Walsh Flying School during the 1914-1918 war.
The Company was also instrumental in setting up the Walsh Memorial Library at the Museum of Transport and Technology (MOTAT) and has made grants totalling more than $65,000 to expand and maintain the library. This library is regarded as the main repository in New Zealand for aviation records.
Flying scholarships have been provided, some to advanced stage, to both the Air Cadet League and the Air Training Corps together with scholarships or bursaries to cadets who wish to undergo technical training and follow a career in the aviation industry.
Aero Clubs, the New Zealand Gliding Association, Parachute Clubs, the Aviation Historical Society and other related activities have also benefited from assistance given by the Walsh Memorial Trust.
Funds are also provided on occasions to support ad hoc activities such as publication of books on New Zealand Aviation.
The Directors are mindful that the Company exists thanks to the foresight of The Company's founders. Protecting and growing the capital through prudent investments to ensure the objectives of the company are maintained as valuable today as in 1956.
The full objects of the Company are;
1. To act as trustees and to undertake and execute any trust or trusts the undertaking whereof may seem desirable and in particular either alone or in conjunction with others to act as trustees of and to take over and administer "The Walsh Memorial Fund" and any other trust or memorial funds now existing or hereafter to come into existence which are at present or may hereafter come under the control or management of the Royal Aeronautical Society (New Zealand Division) or its branches or which are now or may hereafter be held by any person or persons or company or have been or may hereafter be constituted in connection with aeronautics or aeronautical science.
2. To promote and assist in the promotion of charities or trust or memorial funds in connection with aeronautics or aeronautical science.
3. To purchase, take on lease, hire or otherwise acquire any real or personal property which it may be thought desirable to acquire for the purpose of the Company and to dispose of or otherwise deal with the same in any manner thought desirable.
4. To take any gift of or otherwise acquire property whether subject to any special trust or not, for any one or more of the objects of the Company.
5. To take such steps by personal or written appeals, public meetings, or otherwise, as from time to time be deemed expedient for the purpose of procuring contributions in the shape of donations, annual subscriptions or otherwise to any trust or memorial funds or any charitable, educational or other funds in connection with aeronautics or aeronautical science.
6. To give gratuitous relief by means of pecuniary or other assistance of necessitous persons who are or have been members of the Royal Aeronautical Society (New Zealand Division), their widows, children and immediate relatives dependent upon them provided that such persons shall not at the time of receiving such relief be members of this Company.
7. To promote such scholarships as the Company may determine in connection with aeronautics or aeronautical science.
8. To print and publish any newspapers, periodicals, books or leaflets that the Company may think desirable for the promotion of its objects.
9. To invest any moneys of the Company not immediately required for any of its objects in any of the investments for the time being allowed by law for the investment of trust funds and to vary and transpose the same from time to time.
10. To subscribe to any local or other charities and to grant donations for any public purpose, and to provide a superannuation fund for the servants of the Company or otherwise to assist any such servants or their widows or children.
11. To borrow or raise or secure the payment of money for the purpose of the Company in such amounts and in such a manner as the Company shall think fit and in particular by the issue of debenture or debenture stock payable to bearer or otherwise and any other securities or charges upon the undertaking or upon all or any of the real or personal property of the Company present or future or upon all or any of the unpaid or uncalled capital for the time being of the Company and to purchase, redeem or pay off any such securities.
12. To draw, make, accept, endorse, discount execute and issue promissory notes and bills of exchange and other negotiable instruments of any kind whatsoever.
13. To establish, promote or concur in establishing or promoting any other company whose objects shall include the acquisition or taking over of all or any of the assets and liabilities of or shall be in any manner calculated to advance directly or indirectly the objects or interests of this company and to place or guarantee the placing or underwrite, subscribe or otherwise acquire and hold shares, stocks and securities of any such company or to lend money to or guarantee the shares, debentures or securities or performance of any contract of any company established or promoted by this Company.
14. To pay out of the funds of the company the costs, charges and expenses of and incidental to the formation and registration of this Company and any Company promoted by this Company and to pay a commission to or otherwise remunerate any person, firm or company for services rendered or to be rendered in placing or assisting to place or guarantee the placing or procuring the underwriting of any of the shares or debentures or other securities of the company or of any company promoted by this company.
15. To apply for and obtain any Act of Parliament for enabling the Company to carry out any of its objects or for effecting any modification of the Company's constitution or for any other purpose which may seem expedient or beneficial to the Company and to oppose any bills proceedings or applications which might prejudice the Company's interests either directly or indirectly.
16. To enter into any agreement or arrangement with any Government or local authority that may appear to be of advantage to this Company and to carry out any such agreement or arrangement.
17. To do all such other lawful things as are incidental or conducive to the attainment of the above objects.
This page updated 9 July 2018 PB