The Parliament of New Zealand enacts as follows:
This Act is the Ngāti Kahu Accumulated Rentals Trust Act 2015.
This Act comes into force on the day after the date on which it receives the Royal assent.
In this Act, unless the context otherwise requires,—
Aupouri Forest means the land described in computer interest register NA100A/1
Crown forestry licence—
has the meaning given in section 2(1) of the Crown Forest Assets Act 1989; and
in relation to the Aupouri Forest, means the licence held in computer interest register NA100A/1
Crown forestry rental trust means the forestry rental trust referred to in section 34 of the Crown Forest Assets Act 1989
Crown forestry rental trust deed means the trust deed made on 30 April 1990 establishing the Crown forestry rental trust
Ngāti Kahu Accumulated Rentals Trust or Trust means the Ngāti Kahu Accumulated Rentals Trust established by trust deed dated 16 April 2014
Public Trust means the Crown Entity established by section 7 of the Public Trust Act 2001
responsible Ministers means the Minister for Treaty of Waitangi Negotiations, the Minister of Māori Affairs, and the Minister of Finance
settlement date means the date that is 60 working days after all of the following have come into force:
Ngāti Kuri Claims Settlement Act 2015; and
Te Aupouri Claims Settlement Act 2015; and
NgāiTakoto Claims Settlement Act 2015; and
Te Rarawa Claims Settlement Act 2015
Trustee means Public Trust.
The purpose of this Act is to make the necessary legislative provisions for the matters contained in the deed of trust entered into by the Crown and Public Trust to establish the Ngāti Kahu Accumulated Rentals Trust.
The purposes of the Trust are to—
preserve the Crown’s ability, in relation to a proportion of the accumulated rentals, to provide for the settlement of Ngāti Kahu’s historical Treaty of Waitangi claims that may be negotiated and entered into between Ngāti Kahu and the Crown; and
provide for the transfer of a proportion of the accumulated rentals as a consequence of any relevant recommendation made by the Waitangi Tribunal under section 8HB of the Treaty of Waitangi Act 1975 that becomes final under section 8HC(6) of that Act.
On and from the settlement date, the Trustee is deemed to be the confirmed beneficiary of the Trust under clause 11.1(a) and (b) of the Crown forestry rental trust deed for the limited purpose of receiving 20% of the rental proceeds for Aupouri Forest since the commencement of the Crown forestry licence.
8 September 2015
Divided from Te Hiku Claims Settlement Bill (Bill 201–2), third reading
22 September 2015
This Act is administered by the Ministry of Justice.