New Zealand Legislation: Acts

14 Administration of assets

• (1) Subject to this Act, Te Runanga o Ngai Tahu,—

  • (a) shall, in accordance with the charter adopted under section 16 (as that charter is from time to time amended), administer its assets for the benefit of present and future members of Ngai Tahu Whanui; and

  • (b) may, in administering its assets under paragraph (a), make provision for the benefit of any specific member or any class or classes of members of Ngai Tahu Whanui.

  (2) The Trustee Act 1956 shall not apply in relation to the administration by Te Runanga o Ngai Tahu of its assets in accordance with subsection (1).