Gentrified trust

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A gentrified trust is a Sierran quasi-official organization, agency, or public body which exists to administer, regulate, or protect on matters it has been given jurisdiction over. Gentrified trusts are similar to but distinct from federally incorporated enterprises and crown corporations, the latter two which are state-owned enterprises. Gentrified trusts are not formally part of the government but they perform government functions. Although there is a considerable degree of overlap, the main legal distinction between gentrified trusts and state-owned enterprises are that gentrified trusts are trusts established by the Sierran government, while state-owned enterprises are corporations established by Crown or the Sierran government. Generally, gentrified trusts are created for public benefit with special, limited jurisdiction over matters deputized by the government and receive federal funding in support of their services. They operate on a non-profit basis and are responsible for carrying out legally designated duties or obligations with or without the direction of another government body, thereby exercising semi-autonomy. Although not always the case, gentrified trusts are administered by a board of trustees whose members are appointed by Parliament or provincial legislature.

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