Bills are proposed Acts
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Hon Parekura Horomia
Government Bill
181—1
Explanatory note
1 Title
2 Commencement
3 Principal Act amended
Part 1Amendments to principal Act
4 Long Title repealed
5 Name of principal Act changed
6 This Act to be read with Te Ture Whenua Maori Act 1993
7 New headings and sections 3 to 6E substituted
Part 1Establishment and role of Māori Trustee
Māori Trustee established
3 Māori Trustee established
Capacity, powers, and status of Māori Trustee
4 Capacity and powers of Māori Trustee
5 Independence of Māori Trustee
Provisions relating to appointment of Māori Trustee
6 Appointment of Māori Trustee
6A Continuation of appointment
6B Termination of appointment of Māori Trustee
Appointments by Māori Trustee
6C Deputy Māori Trustee
6D Other employees
Delegation
6E Delegation by Māori Trustee
8 New heading inserted
9 Māori Trustee’s Account
10 Accounts within Māori Trustee’s Account
11 New sections 26 to 26B substituted
26 Money held in Common Fund invested in Fund
26A Management fees
26B Disclosure requirements
12 New heading and section 41 substituted
Recovery from Māori Trustee
41 Minister may recover certain money paid by Crown
13 New section 52 substituted
52 Regulations
14 Section 53 repealed
15 New Part 2 inserted
Part 2Māori Business Aotearoa New Zealand
53 Interpretation
Subpart 1—Key provisions about Māori Business Aotearoa New Zealand
Establishment, functions, and powers
54 Establishment of MBANZ
55 Functions of MBANZ
56 Powers of MBANZ
57 Management fees
Names protected
58 Protection of names
MBANZ Fund
59 MBANZ Fund established
60 Effect of agreement to transfer assets under section 59
Subpart 2—Governing body of MBANZ
Board
61 Board of MBANZ
62 Powers of board
63 Duties of members of board
Related entities and subsidiaries
64 Shares or interests in related entities
65 Limits to functions and powers of subsidiary
Subpart 3—Accountability requirements for MBANZ
66 Overview of accountability responsibilities of MBANZ
Key accountability documents
67 Strategic plan
68 Annual report and financial statements
69 Financial report
70 Annual report presented to House of Representatives
Responsible Ministers’ right to request information
71 Responsible Ministers may request information
Information to be publicly available
72 Public information on MBANZ performance
Review
73 Requirement for review of performance of MBANZ
74 Substance of review
16 New Schedule substituted
Part 2Transitional provisions and consequential amendments
Transitional matters
17 Interpretation
18 New Māori Trustee succeeds to existing undertaking
19 Dissolution of Maori Trust Office
20 Contracts and other instruments
21 Status of existing securities
22 Continuation of proceedings
23 Effect of Act
24 Registers
25 Transfer of employees
26 Protection of employment conditions
27 Continuity of employment
28 No compensation for redundancy
29 Membership of Government Superannuation Fund
Consequential and other amendments
30 Enactments amended
Schedule 1New Schedule of Māori Trustee and Māori Development Act 1953
Schedule 2Consequential amendments to other Acts
The Parliament of New Zealand enacts as follows:
