Ngāti Kahu Accumulated Rentals Trust Act 2015

  • This version was reprinted on 9 October 2015 to make a correction to section 3 under section 25(1)(j)(i) and 25(1)(k) of the Legislation Act 2012.
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Ngāti Kahu Accumulated Rentals Trust Act 2015

Public Act
 
2015 No 80
Date of assent
 
22 September 2015
Commencement
 
see section 2

The Parliament of New Zealand enacts as follows:

1 Title

This Act is the Ngāti Kahu Accumulated Rentals Trust Act 2015.

2 Commencement

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

3 Interpretation

In this Act, unless the context otherwise requires,—

Aupouri Forest means the land described in computer interest register NA100A/1

Crown forestry licence

(a)

has the meaning given in section 2(1) of the Crown Forest Assets Act 1989; and

(b)

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:

Trustee means Public Trust.

4 Purpose of this Act and Trust

(1)

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.

(2)

The purposes of the Trust are to—

(a)

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

(b)

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.

5 Trustee is confirmed beneficiary

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.

Legislative history

8 September 2015

Divided from Te Hiku Claims Settlement Bill (Bill 201–2), third reading

22 September 2015

Royal assent

This Act is administered by the Ministry of Justice.