New Zealand Legislation: Acts

18 Limitations on disposal of settlement assets

• (1) The trustee must not transfer settlement assets except to—

  • (a) an iwi aquaculture organisation in accordance with sections 48 and 49; or

  • (b) another person in accordance with a direction by an iwi aquaculture organisation entitled to have the settlement assets transferred to it in accordance with sections 48 and 49.

  (2) However, the trustee must not transfer settlement assets to another person unless satisfied that the iwi aquaculture organisation has complied with section 50.