In this Part, unless the context otherwise requires,—

(1) The equitable and beneficial owners of the land comprised in each trust estate, other than the Maraetaha No 2, Section 4, Trust Estate (the assets of which are comprised exclusively of property other than land), are hereby constituted a body corporate under Part 17 of the Maori Land Act 1931 from 1 July 1953, as if an order of incorporation had been made by the court in that behalf, and, except as otherwise provided in this Part, all the provisions of the said Part 17 and the regulations made thereunder shall apply to every such body corporate accordingly.

(2) Every body corporate constituted by this section shall bear the name “The Proprietors of [name of the land as set out in Part 3 of Schedule 1 of the Maori Purposes Act 1951]”:

provided that the body corporate of the beneficial owners of the land comprised in the Mangaotane Trust Estate shall bear the name “The Proprietors of Mangatu Nos 5 and 6”.

(3) On application by the Commissioner, the court, at any time after the commencement of this Act, shall, in accordance with rules of court, fix a time and place for the holding of a general meeting of the members of any body corporate constituted by this section, for the purpose of electing a committee of management therefor.

(4) Notwithstanding the provisions of Part 17 of the Maori Land Act 1931, the fee simple of the land comprised in any trust estate shall not, by reason of the constitution of the beneficial owners thereof as a body corporate by this section, vest in the body corporate, but every such body corporate shall be entitled to have transferred to it all land and all personal property comprised in the trust estate in accordance with and subject to the provisions of this Part.

(5) Notwithstanding the constitution by this section of the bodies corporate aforesaid, the Commissioner shall continue to hold so much of the trust estates as have not been transferred by him under this Part and to conduct the business thereof in accordance with the powers and authorities vested in him as trustee and agent for the bodies corporate hereby constituted until such time in each case as he has, in accordance with the provisions of section 4, transferred and delivered to the body corporate the assets for the time being held by him in respect thereof, and the committee of management appointed for the body corporate shall have no power to deal with any such assets so held by the Commissioner until they are so transferred and delivered.

(1) Subject to the provisions of this section, the Commissioner is hereby authorized and directed, as soon as conveniently may be after the commencement of this Act, to transfer and assure to each of the bodies corporate constituted by section 3 the title to all land and interests in land comprised in the trust estate in respect of which the body corporate is constituted, and to transfer, set over, and deliver all livestock, plant, implements, stores, and farming chattels comprised in and allocated exclusively to the trust estate, freed and discharged from any liability to the Commissioner except the general liability to contribution and the liability to indemnify the Commissioner imposed by this Part.

(2) Before any transfer in accordance with subsection (1) is made of any property comprised in any trust estate for the time being indebted to the Commissioner, the body corporate constituted in respect of that trust estate shall make arrangements with the Commissioner for the payment of the following amounts:

• (a) the amount owing by the trust estate to the Commissioner as at 30 June 1953, as recorded in the books of account of the Commissioner:

• (b) such further amount as may be owing by the trust estate to the Commissioner in respect of advances made in the course of the conduct of the business of the trust estate on and after 1 July 1953:

• (c) any sum ascertained in accordance with subsection (4) as chargeable to the trust estate in respect of the charges, expenses, and liabilities incurred or to be incurred by the Commissioner in carrying out the duties prescribed for him under this Part.

(3) Upon the payment, or, as the case may be, upon the making of arrangements satisfactory to the Commissioner for the payment, of the amounts referred to in subsection (2), the Commissioner shall contemporaneously transfer and assure to the body corporate the farming assets of the trust estate in respect of which the body corporate is constituted.

(4) The sum referred to in paragraph (c) of subsection (2) shall be the sum ascertained by the Commissioner, with the approval and concurrence of his duly appointed auditors, as the proportion fairly and justly chargeable to the trust estate in respect of which it is ascertained, of the total existing liabilities and losses of the Commission not chargeable directly to any 1 or more of the trust estates, and of the total estimated contingent liabilities, costs, and expenses arising out of the winding up of the Commissioner's business and assets generally.

(5) On the transfer to any body corporate of the land and chattels of the trust estate, in accordance with subsection (1) or subsection (3), all book debts (whether for advances to beneficiaries or otherwise) and all choses in action the property of the trust estate shall vest in the body corporate, and the Commissioner, at the request of the body corporate made at the time of transfer or at any time thereafter, shall formally assign and transfer any such book debt or chose in action accordingly.

(6) On the transfer as aforesaid to a body corporate of the land and chattels comprised in any trust estate, the Commissioner shall pay over to the body corporate all moneys appropriated and held by him to the credit of individual beneficial owners in the trust estate, and all such moneys shall be held by the body corporate upon the same trusts and subject to the same liabilities and encumbrances as they were subject to in the hands of the Commissioner.

Subject to the provisions of section 8, the Commissioner shall distribute the assets of the Maraetaha No 2, Section 4, Trust Estate (which assets are comprised exclusively of money or securities for money) to the person beneficially entitled thereto, in their respective shares.

(1) [Repealed]

(2) Notwithstanding the provisions of this Part, if no committee of management has been appointed in respect of the Mangaotane Trust Estate on or before 1 July 1954, the full costs of management and administration of that trust estate as from that date shall be paid and borne solely by that trust estate.

(1) Until such time as the Commissioner is discharged from office in accordance with section 16, every body corporate constituted by section 3 shall be and remain liable to contribute towards the liabilities and expenses of the Commissioner in relation to his general business and arising out of the duties prescribed for him by this Part.

(2) The court, on the application of the Commissioner, or of any body corporate constituted by section 3, may make orders for the payment by any of such bodies corporate to the Commissioner or to any other of such bodies corporate of any moneys found by the court to be payable in accordance with subsection (1); and may similarly make orders charging any such moneys upon the real property of any 1 or more of those bodies corporate. Any such order for payment or charging order shall be enforceable in all respects as if it were an order made within the jurisdiction of the court under the Maori Land Act 1931.

(1) The Commissioner may from time to time, in the course of the exercise of his functions under this Part, make from moneys retained by him under subsection (2) interim distributions to bodies corporate to which land and other property has been transferred in accordance with section 4, to provide for reasonable working expenses in respect of the farming operations of the bodies corporate, if he is satisfied that any such payments will not prejudice his financial arrangements for liquidation.

(2) Subject to the provisions of subsection (1), all moneys or securities for money held by the Commissioner, and all property other than that expressly referred to in section 4 (whether the same are held as part of a trust estate or not), shall be retained by the Commissioner until such time as the whole of any moneys required to be paid to the Commissioner under that section have been paid and until the completion of the winding up and liquidation of the business of the Commissioner.

(1) Upon the commencement of this Act the Commissioner shall proceed with all diligence to wind up and liquidate the general business conducted by him as part of the corporate administration of all the trust estates and shall realize all assets and liquidate all liabilities arising by reason of the corporate administration as aforesaid not being the exclusive concern of any one trust estate.

(2) After providing therefrom for any costs or liability incurred in the winding up and realization directed by subsection (1), the Commissioner shall allocate the net balance of the proceeds of the realization among the several trust estates constituted by this Part.

(3) The proceeds of realization shall be allocated and the general costs incurred by the Commissioner shall be apportioned on the same basis as that applicable in respect of the annual division among the several trust estates of profits for the year ended on 30 June 1953.

(4) In the realization of assets under subsection (1), the Commissioner may sell any real or personal property by public auction or tender or by private treaty, and in particular, but without limiting the general authority conferred by this subsection, may sell any such property to any company incorporated under the Companies Act 1933 of which a majority of the bodies corporate constituted by section 3 are shareholders and accept payment therefor in fully paid up shares in the capital of any such company.

(5) Where any property is sold by private treaty, whether to a company as provided in subsection (4) or otherwise, the consideration may be assessed, in the case of real property, by a special valuation under the Valuation of Land Act 1951 to be made by the Valuer-General, and, in the case of other property, by valuations made for the purpose by competent valuers approved by the Council.

(6) Where any property is sold to a company in accordance with subsection (4), the Commissioner shall require any shares allotted as consideration therefor to be allocated among the bodies corporate constituted by section 3 which are shareholders in the company, in manner directed by the Commissioner, and any such shares shall be brought into account as part of the distribution or allocation among the trust estates of the proceeds of the liquidation of the Commissioner's general assets in accordance with this section.

(1) The Commissioner shall fix a date, being not earlier than 31 January 1954 and not later than 30 April 1954, as the latest day for the lodging of claims and the proving of debts owing by the Commissioner in respect of his general business and assets or in respect of any trust estate.

(2) The Commissioner shall, in a daily newspaper published respectively in each of the cities of Auckland, Wellington, Napier, Christchurch, and Dunedin, and the towns of Gisborne, Hastings, and Wairoa, notify the date fixed under subsection (1). The first such advertisement shall be published not less than 3 months before the date so fixed, and it shall thereafter be repeated at fortnightly intervals; and published finally on the day immediately preceding the date so fixed.

(3) Every advertisement published as aforesaid shall specify the Commissioner's intention to distribute the assets held by him after the date fixed under subsection (1), having regard only to the claims of which he then has notice.

(4) The Commissioner shall not be liable for any claim of which he has not had notice on or before the day fixed under subsection (1):

provided that nothing in this subsection shall affect the right of any creditor or claimant whose claim relates exclusively to any particular trust estate to follow the assets thereof into the hands of the body corporate receiving the same.

(5) Each body corporate constituted by section 3 shall indemnify and at all times keep indemnified the Commissioner against all claims brought against him in relation to the business or property of the trust estate in respect of which the body corporate is constituted.

(1) Any loss arising on the liquidation and winding up of the enterprise conducted by the Commissioner under the separate account recorded in the Commissioner's books of account as The Mangapoike 2A 3 and 2D Joint Venture Mill Account shall be borne by all the trust estates in such relative proportions as may be determined by the Council after due investigation by the Council and the Commissioner.

(2) Any determination by the Council under subsection (1) shall be final and binding on the Commissioner and on the beneficiaries of the several trust estates and the bodies corporate constituted in respect of those trust estates.

Every memorandum of transfer and other assurances of real or personal property from the Commissioner to a body corporate constituted by section 3 shall be and be deemed to be for all purposes a transfer from a trustee to the beneficiaries personally entitled in possession under the trusts administered by him, and, notwithstanding that any land transferred to a body corporate as aforesaid may be Maori land, no such transfer shall be subject to confirmation by the Maori Land Court.

All land vested in the Commissioner, whether or not the same is Maori land, shall upon transfer to a body corporate constituted by section 3 become Maori land subject to the Maori Land Act 1931.

(1) The Commissioner shall, as soon as conveniently possible after 30 June 1954, and after the same day in each year during which the winding up and distribution of the assets of the Commissioner remain uncompleted, report to the court on the progress made in respect of the distribution and winding up.

(2) Every report made under subsection (1) shall include statements showing—

• (a) the property distributed, sold, or otherwise disposed of, and the manner of disposition:

• (b) the consideration received for any property sold as aforesaid:

• (c) the allocation of the costs incurred by him in the course of the winding up and liquidation as aforesaid:

• (d) such other matters as the Commissioner deems material.

(3) A copy of every report made by the Commissioner under this section shall be supplied by him to each of the bodies corporate constituted by section 3 and to each member of the Council.

(4) The court, after giving to each body corporate, and to the Council, and to any other person or body interested an opportunity to be heard, if they so desire, shall consider any report made under this section, and may either confirm the report or require alterations to be made therein, and in doing so shall have the same powers as are given to it by section 41 of the Maori Purposes Act 1931 in relation to the annual accounts of the Commissioner, and the provisions of that section, as far as they are applicable and with the necessary modifications, shall apply accordingly as if the report being dealt with were the annual accounts referred to in the said section 41.

(5) On the completion by the Commissioner of the winding up and liquidation of his business and the distribution of the trust estates in accordance with the provisions of this Part, he shall submit to the court his final report and accounts for confirmation in manner provided by subsection (1), and the foregoing provisions of this section shall apply accordingly to any such report and accounts and to the powers of the court in relation thereto.

(1) Where any doubt, difficulty, or dispute arises in the course of or in relation to the distribution and winding up of the business and property of the Commissioner under this Part, the Commissioner may apply to the court to determine the same, and the court shall make such order or give such directions as it considers necessary and equitable in the circumstances. Any order or direction given by the court under this subsection shall be binding upon the Commissioner and all other persons interested or concerned in the matter in question.

(2) In dealing with any matter in respect of which application is made under subsection (1) the court shall have regard to, but shall not necessarily be bound by, any relative provisions of the Trustee Act 1908 or, in so far as the provisions of that Act relate to the winding up of a company in voluntary liquidation, of the Companies Act 1933.

(1) The provisions of this section shall apply in the case of all general meetings of the incorporated owners of the bodies corporate constituted by section 3 held prior to 1 April 1954 (being the date of the commencement of the Maori Affairs Act 1953). Except as expressly provided by this section, every such meeting shall be conducted in the manner provided in Part 17 of the Maori Land Act 1931 and the regulations thereunder.

(2) The court may from time to time fix the quorum for any general meeting of incorporated owners. Unless and until a quorum has been so fixed, the quorum for any such meeting shall be 20 persons (whether members or proxies for members) or a number of persons equal to two-thirds of the total number of members (whichever is the less). For the purposes of this subsection, where the total number of members is not a multiple of 3, two-thirds of the number of members shall be deemed to be two-thirds of the next highest number which is a multiple of 3.

(3) Whether the quorum is fixed by the court or in accordance with subsection (2), no general meeting shall be deemed to be properly constituted unless at least 3 owners are present in person throughout the meeting.

(4) Unless on any question submitted at a general meeting to a vote of the owners a poll is demanded by not less than 2 persons present thereat, every owner present in person or by proxy shall have 1 vote only, and a resolution shall be carried if a majority of the votes is in favour thereof.

(5) If on any question submitted to a vote of the owners a poll is demanded in accordance with subsection (4), the voting powers of the owners shall be in direct proportion to their relative interests in the land and other assets of the incorporation.

(6) A person acting as proxy for more than 1 owner, or a trustee or his proxy acting for a person under disability, shall be entitled to vote separately for each person for whom he so acts.

(7) No member of a committee of management shall be competent to act at a general meeting of owners as the proxy of any owner, and no person holding a proxy at a general meeting at which any member of the committee of management is elected shall be elected as a member of the committee.

Nothing in this Part shall be construed to affect the provisions of any other enactment except so far as the provisions of any such other enactment are inconsistent with the provisions of this Part.

Words and expressions used in this Part shall, unless the contrary intention appears, have the same meaning as in the Maori Land Act 1931 (in this Part referred to as the principal Act), and the provisions of the principal Act, as far as applicable, shall extend and apply to the cases provided for by this Part in as full and ample a manner as if this Part had been incorporated with and formed part of the principal Act.

(1) The body corporate constituted by Part 3 of the Maori Purposes Act 1947, under the name of “The Proprietors of the Mangatu Nos 1, 3, and 4 Blocks (Incorporated)” (in this section referred to as the body corporate), shall be deemed to be a body corporate established under Part 22 of the Maori Affairs Act 1953, and the body corporate of owners established in respect of the body corporate shall be enabled to occupy and manage the land owned by or vested in the body corporate or any portion of that land as·a farm or farms, to carry on any agricultural or pastoral business thereon, to engage in the felling of marketable timber trees standing on the said land, to establish and carry on timber mills, to grant licences to cut and remove timber, and to engage in any other operations for the production, utilization, or sale of timber.

(2) Subject to the provisions of this section, the provisions of the said Part 22 shall, as far as they are applicable and with any necessary modifications, apply to the said body corporate and to the committee of management thereof in all respects as if the body corporate had been incorporated pursuant to an order of incorporation made by the court under that Part and the objects of the body corporate referred to in subsection (1) were the objects defined by the court.

(3) Notwithstanding the provisions of Part 22 of the Maori Affairs Act 1953, the committee of management established under Part 3 of the Maori Purposes Act 1947 shall be deemed to be the first committee of management of the body corporate established by this section, and each member of that committee in office on the commencement of this section shall remain in office until his successor is elected or appointed in accordance with regulations made under section 294 of the Maori Affairs Act 1953.

(4) Amendment(s) incorporated in the Act(s).

(5) This section shall come into force on 1 April 1954.

(1) Subject to the provisions of subsection (2), the Maori Trustee may, with the approval of the Board of Maori Affairs, write off in respect of the several amounts which were payable to the Maori Trustee as compensation for improvements, and which were constituted as charges on the several blocks of land referred to in subsection (3), such amounts as to him seem equitable, and, to the extent that the several amounts are so written off, the charges in respect of the blocks to which they relate shall be deemed to have been discharged accordingly.

(2) No greater amount shall be written off under the authority of this section than the amount by which the amount charged on the appropriate block exceeds the value of the improvements for which the Maori Trustee was entitled to compensation as disclosed by a valuation made under the Valuation of Land Act 1951, and adjusted as nearly as may be to the date of the expiry of the lease by which a right to compensation for improvements was conferred on the Maori Trustee.

(3) The several blocks of land to which this section relates are the blocks known as Wharekahika No 8A, Wharekahika No 8D, Wharekahika No 18J, Wharekahika No 18K, and Wharekahika No 18L, situated in the Tairawhiti Maori Land Court District, and comprising portion of the property controlled and managed by the Maori Trustee under the name of Hoia Station.