Maori Trust Boards Amendment Act 2011

Coat of Arms of New Zealand

Maori Trust Boards Amendment Act 2011

Public Act2011 No 75
Date of assent15 September 2011
Commencementsee section 2

The Parliament of New Zealand enacts as follows:

1  Title
  • This Act is the Maori Trust Boards Amendment Act 2011.

2  Commencement
  • This Act comes into force on the day after the date on which it receives the Royal assent.

3  Principal Act amended
4  Interpretation
  • (1) Section 2(1) is amended by inserting the following definitions in their appropriate alphabetical order:

    accounting period, for a Board, means—

    • (a) a period of 1 year ending on the Board's balance date; or

    • (b) if the Board's balance date changes, the period starting on the day after the last balance date before the change and ending on the new balance date

    balance date, for a Board, means—

    • (a) the end of 31 March; or

    • (b) the end of another date that the Board adopts as its balance date, as long as a balance date is never more than 15 months after the last balance date.

    (2) Section 2(2) is repealed.

5  New heading and sections 23C and 23D inserted
  • The following heading and sections are inserted after section 23B:

    Requirement for annual hui

    23C Annual hui
    • (1) A Board must hold a hui for the beneficiaries of the Board no later than 6 months after the balance date of the prior accounting period.

      (2) The Board must do the following things at the hui:

      • (a) report on its activities since the last hui:

      • (b) report on the activities it plans for the future:

      • (c) present its annual report (prepared under section 31) for the prior accounting period:

      • (d) present a budget (prepared under section 31A) for the next accounting period that starts after the hui.

      (3) To avoid doubt, this section and sections 23D and 31 to 32 do not limit the Maori Fisheries Act 2004 in relation to a Board that is a mandated iwi organisation under that Act.

    23D Notice of annual hui
    • (1) A Board must give public notice of the following matters to its beneficiaries:

      • (a) the time and location of a hui to be held under section 23C; and

      • (b) details of when and how a beneficiary may obtain a copy (whether printed or electronic) of the annual report to be presented at the hui.

      (2) The notice must be given no later than 3 months before the date of the hui.

      (3) Section 46(2) applies to the notice.

6  Additional grants and payments by Boards
  • Section 24A(b) is amended by omitting financial year and substituting accounting period.

7  New heading and sections 31 to 32 substituted
  • Sections 30A to 32 are repealed and the following heading and sections substituted:

    Annual reporting and other accountability requirements

    31 Annual report (including financial statements)
    • (1) After an accounting period ends, a Board must prepare an annual report on the Board's affairs during the accounting period.

      (2) The annual report for an accounting period must be prepared at least 1 month before the day on which the hui to present the report is to be held under section 23C.

      (3) The annual report must include—

      • (a) the following financial statements for the Board for the accounting period:

        • (i) a statement of financial position as at the balance date; and

        • (ii) an income and expenditure statement; and

        • (iii) a statement of cash flows, if required by an applicable financial reporting standard; and

        • (iv) any notes or documents giving information relating to the statements; and

      • (b) the auditor's report on the financial statements.

      (4) The financial statements must comply with generally accepted accounting practice.

      (5) The financial statements and the annual report must be dated and signed on behalf of the Board by 2 members and the secretary of the Board.

      (6) In this section,—

      applicable financial reporting standard has the meaning given by section 2(1) of the Financial Reporting Act 1993 as if a Board were a reporting entity under that Act

      generally accepted accounting practice has the meaning given by section 3 of the Financial Reporting Act 1993 as if a Board were a reporting entity under that Act.

    31A Annual budget
    • Before the start of an accounting period, a Board must prepare a budget for the accounting period that states the Board's expected income and expenditure for the period.

    31B Audit requirements
    • (1) A Board must—

      • (a) have its annual financial statements audited; and

      • (b) obtain the auditor's report on the financial statements.

      (2) The auditor must be—

      • (a) a chartered accountant (as defined by section 19 of the New Zealand Institute of Chartered Accountants Act 1996); or

      • (b) eligible to act as an auditor under section 199(1)(c) or (d) of the Companies Act 1993.

    32 Annual report and budget must be provided to Minister
    • (1) A Board must provide copies of the following documents to the Minister for his or her information:

      • (a) an annual report prepared under section 31:

      • (b) a budget prepared under section 31A.

      (2) The copy of a document must be provided no later than 1 month after the document is prepared.

8  Consequential repeal of annual hui provisions in 5 Acts and omission of item from schedule
  • (1) The following provisions are repealed:

    • (a) section 6 of the Hauraki Maori Trust Board Act 1988:

    • (b) section 9 of the Maniapoto Maori Trust Board Act 1988:

    • (c) section 6 of the Te Runanga o Ngati Porou Act 1987:

    • (d) section 8 of the Te Runanga o Ngati Whatua Act 1988:

    • (e) section 7 of the Whanganui River Trust Board Act 1988.

    (2) The item relating to Maori Trust Boards in Schedule 1 of the Public Audit Act 2001 is omitted.

9  Transitional provision for when new provisions apply to each Maori Trust Board
  • (1) In this section, the transition date for a Board means the starting date of—

    • (a) the second accounting period of the Board that starts on or after the commencement of this Act, unless paragraph (b) applies:

    • (b) the first accounting period of the Board that starts on or after the commencement of this Act, if that date is appointed for the Board by the Governor-General by an Order in Council made on the recommendation of the Minister.

    (2) The principal Act, as amended by this Act, applies—

    • (a) to a Maori Trust Board only on and from the Board's transition date; and

    • (b) in relation to only the accounting periods of the Board that start on or after the Board's transition date.

    (3) Otherwise, the principal Act applies to the Board, and in relation to its accounting periods, as if this Act had not amended the principal Act.

    (4) A provision repealed by section 8(1) continues to apply, as if it had not been repealed, until the start of the transition date of the Board to which it applies.

    (5) Despite subsections (2) and (3), and anything in the principal Act, a Board must—

    • (a) hold a hui for the beneficiaries of the Board no later than 6 months after the Board's transition date, at which the Board must—

      • (i) report on its activities since its transition date or, if the Act that constitutes the Board provides for it to hold hui, since its last hui; and

      • (ii) report on the activities it plans for the future; and

      • (iii) present its financial statements for the prior accounting period that were prepared and audited as required by the principal Act before this Act amended it; and

      • (iv) present a budget (prepared under section 31A of the principal Act) for the next accounting period that starts after the hui; and

    • (b) give public notice to its beneficiaries of the time and location of the hui—

      • (i) no later than 3 months before the date of the hui; and

    (6) In this section, accounting period and Maori Trust Board have the meanings given by section 2(1) of the principal Act.


Legislative history

13 September 2011Divided from Māori Purposes Bill (Bill 234–1), third reading
15 September 2011Royal assent

This Act is administered by Te Puni Kōkiri.