New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) A joint mandated iwi organisation must not transfer to a withdrawing group the assets referred to in section 20(3)(b) until the withdrawing group has completed the process of withdrawal in accordance with the criteria provided for under section 20(2)(c).
(2) A transfer of assets referred to in subsection (1) must be—
(a) free of charge to the withdrawing group, other than reasonable administrative costs; and
(b) treated as if it were between wholly-owned asset-holding companies of the joint mandated iwi organisation.
