New Zealand Legislation: Regulations
Regulations are laws made under Acts
The distributable income that must be paid under section 26(2) of the Maori Trustee Act 1953 must be calculated as follows:
(a) the Māori Trustee must apply the formula set out in section 26(3) of the Maori Trustee Act 1953 each month to calculate the total amount of distributable income for the month to which the calculation relates; and
(b) the entitlement of an account in the Common Fund to a share of the total distributable income calculated under paragraph (a) must be determined each month—
(i) by reference to the balance of that account on the last day of the month; and
(ii) in the same proportion as that account contributes to the Common Fund as a whole on that day.
