(1) Each responsible Minister may—

• (a) issue a protocol to the trustee in the form set out in part 2 of the documents schedule of the deed of settlement at the settlement date; and

• (b) amend or cancel that protocol.

(2) A protocol may be amended or cancelled under subsection (1) at the initiative of either—

• (a) the trustee; or

• (b) the responsible Minister.

(3) The responsible Minister may amend or cancel a protocol only after consulting, and having particular regard to the views of, the trustee.

Protocols do not restrict—

• (a) the ability of the Crown to exercise its powers and perform its functions and duties in accordance with the law and Government policy, which includes the ability to—

  • (i) introduce legislation and change Government policy; and

  • (ii) interact with or consult a person the Crown considers appropriate, including any iwi, hapū, marae, whānau, or other representative of tangata whenua; or

• (b) the responsibilities of a responsible Minister or a department of State; or

• (c) the legal rights of Ngāti Whātua Ōrākei or a representative entity.

(1) The Crown must comply with a protocol while it is in force.

(2) If the Crown fails, without good cause, to comply with a protocol, the trustee may, subject to the Crown Proceedings Act 1950, enforce the protocol.

(3) Despite subsection (2), damages or any form of monetary compensation are not available as a remedy for a failure by the Crown to comply with a protocol.

(4) To avoid doubt,—

• (a) subsections (1) and (2) do not apply to guidelines developed for the implementation of a protocol; and

• (b) subsection (3) does not affect the ability of a court to award costs incurred by the trustee in enforcing the protocol under subsection (2).

(1) The conservation protocol does not have the effect of granting, creating, or providing evidence of—

• (a) rights relating to the common marine and coastal area (as defined by section 9(1) of the Marine and Coastal Area (Takutai Moana) Act 2011); or

• (b) an estate or interest in land held, managed, or administered under the Conservation Act 1987 or any enactment listed in Schedule 1 of that Act; or

• (c) an interest in, or rights relating to, flora or fauna managed or administered under the Conservation Act 1987 or any enactment listed in Schedule 1 of that Act.

(2) The Crown minerals protocol does not have the effect of granting, creating, or providing evidence of an estate or interest in, or rights relating to, Crown-owned minerals.

(3) The taonga tūturu protocol does not have the effect of granting, creating, or providing evidence of an estate or interest in, or rights relating to, taonga tūturu.

(4) In subsection (2), Crown-owned mineral means a mineral (as defined by section 2(1) of the Crown Minerals Act 1991)—

• (a) that is the property of the Crown under section 10 or 11 of that Act; or

• (b) over which the Crown has jurisdiction under the Continental Shelf Act 1964.

(1) A summary of the terms of the conservation protocol must be noted in the conservation documents.

(2) The noting of the conservation protocol is—

• (a) for the purpose of public notice only; and

• (b) not an amendment to the conservation documents for the purposes of section 17I of the Conservation Act 1987 or section 46 of the National Parks Act 1980.

(1) A summary of the terms of the Crown minerals protocol must be noted in—

• (a) a register of protocols maintained by the chief executive of the Ministry of Economic Development Business, Innovation, and Employment; and

• (b) the minerals programmes affecting the Crown minerals protocol area when those programmes are replaced.

(2) The noting of the Crown minerals protocol is—

• (a) for the purpose of public notice only; and

• (b) not an amendment to the minerals programmes for the purposes of the Crown Minerals Act 1991.

(3) In this section,—

(1) In this Act, statutory acknowledgement means the acknowledgement made by the Crown in section 29 in respect of the statutory area, on the terms set out in this subpart.

(2) In this subpart,—

The Crown acknowledges the statement of association.

(1) The only purposes of the statutory acknowledgement are—

• (a) to require the Auckland Council, the Environment Court, and the Historic Places Trust to have regard to the statutory acknowledgement, as provided for in sections 31 to 33; and

• (b) to require the Auckland Council to provide summaries of resource consent applications, or copies of notices of resource consent applications, to the trustee, as provided for in section 35; and

• (c) to enable the trustee and members of Ngāti Whātua Ōrākei to cite the statutory acknowledgement as evidence of the association of Ngāti Whātua Ōrākei with the statutory area, as provided for in section 36.

(2) This section does not limit sections 38 to 40.

(1) On and from the effective date, the Auckland Council must have regard to the statutory acknowledgement relating to the statutory area in deciding, under section 95E of the Resource Management Act 1991, whether the trustee is an affected person in relation to an activity within, adjacent to, or directly affecting the statutory area and for which an application for a resource consent has been made.

(2) Subsection (1) does not limit the obligations of the Auckland Council under the Resource Management Act 1991.

(1) On and from the effective date, the Environment Court must have regard to the statutory acknowledgement relating to the statutory area in deciding, under section 274 of the Resource Management Act 1991, whether the trustee is a person who has an interest in proceedings that is greater than the interest that the general public has in respect of an application for a resource consent for activities within, adjacent to, or directly affecting the statutory area.

(2) Subsection (1) does not limit the obligations of the Environment Court under the Resource Management Act 1991.

(1) This section applies if, on or after the effective date, an application is made under section 11 or 12 of the Historic Places Act 1993 for an authority to destroy, damage, or modify an archaeological site within the statutory area.

(2) The Historic Places Trust must have regard to the statutory acknowledgement relating to the statutory area in exercising its powers under section 14 of the Historic Places Act 1993 in relation to the application, including in determining whether the trustee is directly affected by an extension of time.

(3) The Environment Court must have regard to the statutory acknowledgement relating to the statutory area in determining under section 20 of the Historic Places Act 1993 an appeal against a decision of the Historic Places Trust in relation to the application, including in determining whether the trustee is directly affected by the decision.

(4) In this section, archaeological site has the meaning given by section 2 of the Historic Places Act 1993.

(1) On and from the effective date, the Auckland Council must attach information recording the statutory acknowledgement to all statutory plans that wholly or partly cover the statutory area.

(2) The information attached to a statutory plan must include—

• (a) the provisions of sections 29 to 33 in full; and

• (b) the description of the statutory area; and

• (c) the statement of association for the statutory area.

(3) The attachment of information to a statutory plan under this section is for the purpose of public information only and, unless adopted by the Auckland Council as part of the statutory plan, the information is not—

• (a) part of the statutory plan; or

• (b) subject to the provisions of Schedule 1 of the Resource Management Act 1991.

(4) In this section, statutory plan—

• (a) means a district plan, regional plan, regional coastal plan, regional policy statement, or proposed policy statement (as defined by section 43AA of the Resource Management Act 1991); and

• (b) includes a proposed plan (as defined by section 43AAC of that Act).

(1) The Auckland Council must, for a period of 20 years starting on the effective date, provide the following to the trustee for each resource consent application for an activity within, adjacent to, or directly affecting the statutory area:

• (a) if the application is received by the Auckland Council, a summary of the application; or

• (b) if notice of the application is served on the Auckland Council under section 145(10) of the Resource Management Act 1991, a copy of the notice.

(2) The information provided in a summary of an application must be the same as would be given to an affected person by limited notification under section 95B of the Resource Management Act 1991, or as may be agreed between the trustee and the Auckland Council.

(3) A summary of an application must be provided under subsection (1)(a)—

• (a) as soon as is reasonably practicable after the Auckland Council receives the application; and

• (b) before the Auckland Council decides under section 95 of the Resource Management Act 1991 whether to notify the application.

(4) A copy of a notice of an application must be provided under subsection (1)(b) no later than 10 business days after the day on which the Auckland Council receives the notice.

(5) This section does not affect the Auckland Council's obligation,—

• (a) under section 95 of the Resource Management Act 1991, to decide whether to notify an application, and to notify the application if it decides to do so; or

• (b) under section 95E of that Act, to decide whether the trustee is an affected person in relation to an activity.

(1) The trustee and any member of Ngāti Whātua Ōrākei may, as evidence of the association of Ngāti Whātua Ōrākei with the statutory area, cite the statutory acknowledgement that relates to the area in submissions to, and in proceedings before, the Auckland Council, the Environmental Protection Authority (EPA) or a board of inquiry under Part 6AA of the Resource Management Act 1991, the Environment Court, or the Historic Places Trust concerning activities within, adjacent to, or directly affecting the area.

(2) The content of the statement of association is not, by virtue of the statutory acknowledgement, binding as fact on—

• (a) the Auckland Council:

• (b) the EPA or a board of inquiry under Part 6AA of the Resource Management Act 1991:

• (c) the Environment Court:

• (d) the Historic Places Trust:

• (e) parties to proceedings before the bodies specified in paragraphs (a) to (d):

• (f) any other person who is entitled to participate in the proceedings specified in paragraph (e).

(3) However, the bodies and persons specified in subsection (2) may take the statutory acknowledgement into account.

(4) To avoid doubt,—

• (a) neither the trustee nor members of Ngāti Whātua Ōrākei are precluded from stating that Ngāti Whātua Ōrākei has an association with the statutory area that is not described in the statutory acknowledgement; and

• (b) the content and existence of the statutory acknowledgement do not limit any statement made.

(1) The trustee may waive the right to be provided with summaries, and copies of notices, of resource consent applications under section 35 in relation to the statutory area.

(2) Rights must be waived by written notice to the Auckland Council stating—

• (a) the scope of the waiver; and

• (b) the period for which it applies.

(3) An obligation under this subpart does not apply to the extent that the corresponding right has been waived under this section.

(1) The statutory acknowledgement does not affect, and may not be taken into account by, a person exercising a power or performing a function or duty under legislation or a bylaw.

(2) No person, in considering a matter or making a decision or recommendation under legislation or a bylaw, may give greater or lesser weight to the association of Ngāti Whātua Ōrākei with the statutory area than that person would give if there were no statutory acknowledgement for the area.

(3) Subsection (2) does not limit subsection (1).

(4) This section is subject to the other provisions of this subpart.

(1) The statutory acknowledgement does not affect the lawful rights or interests of a person who is not a party to the deed of settlement.

(2) This section is subject to the other provisions of this subpart.

(1) The statutory acknowledgement does not have the effect of granting, creating, or providing evidence of an estate or interest in, or rights relating to, the statutory area.

(2) This section is subject to the other provisions of this subpart.

(1) This section amends the Resource Management Act 1991.

(2) In Schedule 11, insert in its appropriate alphabetical order “Ngāti Whātua Ōrākei Claims Settlement Act 2012”.

(1) The Pourewa Creek site ceases to be a conservation area under the Conservation Act 1987.

(2) The fee simple estate in the Pourewa Creek site then vests in the trustee.

(3) The Pourewa Creek site is then declared a reserve and classified as a recreation reserve subject to section 17 of the Reserves Act 1977.

(4) The reserve created by subsection (3) is named Pourewa Creek Recreation Reserve.

(1) This section applies to the Pourewa Creek site once it is—

• (a) vested in the trustee under section 42(2); and

• (b) declared a reserve under section 42(3).

(2) The trustee must not—

• (a) transfer the fee simple estate in the site to any person; or

• (b) mortgage, or give a security interest in, the site.

(3) To avoid doubt, subsection (2) applies even if the reservation under section 42(3) is revoked in relation to all or part of the site.

(4) Despite subsection (2), the trustee may transfer the fee simple estate in the site if—

• (a) the transferor of the site is or was the trustee; and

• (b) the transferee is the trustee of the same trust, after any new trustee has been appointed to the trust or any transferor has ceased to be a trustee of the trust; and

• (c) the transfer instrument is accompanied by a certificate given by the transferee, or the transferee's solicitor, verifying that paragraphs (a) and (b) apply.

(1) The Pourewa Creek site vests in the trustee under section 42(2) subject to, or together with, the encumbrances listed in Schedule 1 (whether as an existing encumbrance that continues to affect the property after the vesting or as a new encumbrance that first affects the property immediately after the vesting).

(2) For the purposes of subsection (1), the concessions apply—

• (a) as if the trustee were the grantor of the concession; and

• (b) with any other necessary modifications; and

• (c) despite the change in status of the land in the site on the settlement date.

(3) In subsection (2), the concessions means the encumbrances listed in Schedule 1 relating to Bellsouth New Zealand Limited (now Vodafone New Zealand Limited) and the St Heliers Bay Pony Club Incorporated.

(1) The vesting of the Pourewa Creek site in the trustee under section 42(2) (the vesting) is a disposition for the purposes of Part 4A of the Conservation Act 1987, but sections 24, 24A, and 24AA of that Act do not apply to the disposition.

(2) If the reservation under section 42(3) of the Pourewa Creek site is revoked in relation to all or part of the site,—

• (a) then the vesting is no longer exempt from section 24 of the Conservation Act 1987 (other than subsection (2A)) in relation to all or that part of the site (as the case may be); and

• (b) section 25 of the Reserves Act 1977 (except subsection (2)) does not apply to the revocation.

(3) Section 11 and Part 10 of the Resource Management Act 1991 do not apply to—

• (a) the vesting; or

• (b) any matter incidental to, or required for the purpose of, the vesting.

(4) The vesting does not—

• (a) limit section 10 or 11 of the Crown Minerals Act 1991; or

• (b) affect other rights to subsurface minerals.

(1) The Ngāti Whātua Ōrākei Reserves Board is the administering body of the Pourewa Creek Recreation Reserve for the purposes of the Reserves Act 1977 as if—

• (a) the reserve were vested in the Reserves Board under section 26 of that Act; and

• (b) the Reserves Board were a local authority within the meaning of section 2(1) of that Act.

(2) However, the Reserves Board must still submit its management plan for the reserve to the Minister for approval under section 41(13) of the Reserves Act 1977.

(3) Section 10 of the Reserves Act 1977 applies to the Reserves Board as if it were a local authority in respect of the reserve.

(4) The Reserves Board is not required to comply with section 88 of the Reserves Act 1977 in respect of the reserve. Instead, it must comply with clause 5(1) of Schedule 4.

(5) To avoid doubt, sections 48A, 114, and 115 of the Reserves Act 1977 apply to the reserve.

(6) The Minister must not change the name of the reserve under section 16(10) of the Reserves Act 1977 without the written consent of the Reserves Board, and section 16(10A) of that Act does not apply to any proposed change.

(7) All costs and expenses incurred in and incidental to the administration of the reserve must be paid by the Auckland Council to the extent that any income arising from the reserve is insufficient to defray those costs and expenses.

(8) Subsection (7) is subject to clause 6 of Schedule 4.

The Pourewa Creek Recreation Reserve is not a Crown protected area, despite section 4 of the New Zealand Geographic Board (Ngā Pou Taunaha o Aotearoa) Act 2008.

(1) The Registrar-General must, in accordance with a written application by the Director-General of Conservation,—

• (a) create 1 computer freehold register for the fee simple estate in the Pourewa Creek site in the name of the trustee; and

• (b) record on the register any encumbrances that are registered, notified, or notifiable and that are described in the application; and

• (c) record on the register that—

  • (i) section 43 applies to the site; and

  • (ii) the site is subject to Part 4A of the Conservation Act 1987, but that section 24 of that Act does not apply; and

  • (iii) the site is subject to section 45(2).

(2) Subsection (1) is subject to the completion of any survey necessary to create a computer freehold register.

(3) A computer freehold register must be created under this section as soon as is reasonably practicable after the settlement date, but no later than—

• (a) 24 months after the settlement date; or

• (b) any later date that may be agreed in writing by the Crown and the trustee.

(4) A notification made under subsection (1)(c)(ii) that the land is subject to Part 4A of the Conservation Act 1987 is to be treated as having been made in compliance with section 24D(1) of that Act.

(5) If the reservation of the Pourewa Creek site under section 42(3) is revoked in relation to—

• (a) all of the site, then the Director-General must apply in writing to the Registrar-General to remove from any computer freehold register for the site—

  • (i) the notification that section 24 of the Conservation Act 1987 does not apply to the site; and

  • (ii) the notification that the site is subject to section 45(2); or

• (b) part of the site, then the Registrar-General must ensure that the notifications referred to in paragraph (a) remain only on any computer freehold register for the part of the site that remains a reserve.

(6) The Registrar-General must comply with an application received in accordance with subsection (5)(a).

In this subpart,—

(1) The name specified in the first column of the table in clause 5.11 of the deed of settlement is assigned to the feature described in the other columns of that table.

(2) The assignment is to be treated as if it were the assignment of an official geographic name by a determination of the New Zealand Geographic Board under section 19 of the NZGB Act that takes effect on the settlement date.

The New Zealand Geographic Board must, as soon as practicable after the settlement date,—

• (a) give public notice of the assignment of the Pourewa Creek name under section 50 in accordance with section 21(2) and (3) of the NZGB Act; but

• (b) state in the notices that the assignment took effect on the settlement date.

(1) The New Zealand Geographic Board need not comply with the requirements of sections 16, 17, 18, 19(1), and 20 of the NZGB Act in making a determination to alter the official geographic name of the feature named by this subpart.

(2) Instead, the Board may make the determination as long as it has the written consent of the trustee.

(3) To avoid doubt, the Board must give public notice of the determination in accordance with section 21(2) and (3) of the NZGB Act.

(1) In this subpart and subpart 2,—

(2) In this subpart and subpart 2, unless the context requires another meaning, terms used and not defined in this subpart, but defined in the Inland Revenue Acts, have the meanings given in those Acts.

(1) On the commencement of this Act, the Statutory Trust Board is dissolved and—

• (a) the term of office of the members of the Statutory Trust Board expires; and

• (b) proceedings by or against the Statutory Trust Board may be continued, completed, or enforced by or against the trustee (without amendment to the proceedings); and

• (c) a reference to the Statutory Trust Board (express or implied) in any enactment (other than this Act), or in any instrument, register, agreement, deed, lease, application, notice, or other document in force or in effect immediately before the commencement of this Act must, unless the context requires another meaning, be read as a reference to the trustee.

(2) A person holding office as a member of the Statutory Trust Board immediately before the commencement of this Act is not entitled to compensation as a result of the expiry under this section of his or her term of office.

(1) On the commencement of this Act, the assets and liabilities of the Statutory Trust Board vest in the trustee and become the assets and liabilities of the trustee.

(2) In this section, assets and liabilities—

• (a) means the assets and liabilities owned, controlled, or held by the Statutory Trust Board immediately before the commencement of this Act; but

• (b) does not include the land vested in the trustee by Part 4.

(1) As soon as practicable after the commencement of this Act, the trustee must prepare a final report (as if the report were an annual report required under section 31 of the Maori Trust Boards Act 1955) to show the financial results of the operations of the Statutory Trust Board for the period beginning on the day after the last day covered by the previous annual report and ending on the day before the commencement of this Act.

(2) As soon as practicable after the completion of the final report, the trustee must provide it to the Minister of Māori Affairs, who must present it to the House of Representatives as soon as practicable after receiving it.

(1) On the commencement of this Act, the Charitable Trust Board is dissolved and—

• (a) the term of office of the members of the Charitable Trust Board expires; and

• (b) proceedings by or against the Charitable Trust Board may be continued, completed, or enforced by or against the trustee (without amendment to the proceedings); and

• (c) a reference to the Charitable Trust Board (express or implied) in any instrument, register, agreement, deed, lease, application, notice, or other document in force or in effect immediately before the commencement of this Act must, unless the context requires another meaning, be read as a reference to the trustee.

(2) A person holding office as a member of the Charitable Trust Board immediately before the commencement of this Act is not entitled to compensation as a result of the expiry under this section of his or her term of office.

(1) On the commencement of this Act, the assets and liabilities of the Charitable Trust Board vest in the trustee and become the assets and liabilities of the trustee.

(2) Subsection (1) is subject to subsection (3).

(3) To the extent that any asset or liability of the Charitable Trust Board is owned or held subject to any charitable trusts, the asset or liability vests in the trustee—

• (a) freed of those charitable trusts; but

• (b) subject to the trusts expressed in the Ngāti Whātua Ōrākei Trust deed of trust.

(4) In this section, assets and liabilities means the assets and liabilities owned, controlled, or held, wholly or in part, by the Charitable Trust Board immediately before the commencement of this Act.

(5) To avoid doubt, the assets and liabilities of the subsidiaries continue to be the assets and liabilities of the subsidiaries.

(1) To the extent that immediately before the commencement of this Act any asset or liability of a subsidiary is held subject to any charitable purposes, on the commencement of this Act,—

• (a) the asset or liability is freed of those charitable purposes; and

• (b) the constitution of the subsidiary is deemed to have been amended to the extent necessary to give effect to paragraph (a).

(2) If, on the commencement of this Act, a subsidiary is a tax charity for the purposes of the Inland Revenue Acts, the subsidiary ceases to be a tax charity at that time.

(3) To avoid doubt, nothing in this section has the effect, of itself, of causing a subsidiary to be a different person for the purposes of the Inland Revenue Acts.

Nothing given effect to or authorised by this subpart—

• (a) places the Statutory Trust Board, the Charitable Trust Board, the trustee, the Crown, or any other person or body in breach of a contract or confidence, or makes them guilty of a civil wrong; or

• (b) gives rise to a right for any person to terminate or cancel any contract or arrangement, to accelerate the performance of an obligation, to impose a penalty, or to increase a charge; or

• (c) places the Statutory Trust Board, the Charitable Trust Board, the trustee, the Crown, or any other person or body in breach of an enactment, rule of law, or contract that prohibits, restricts, or regulates the assignment or transfer of an asset or a liability or the disclosure of information; or

• (d) releases a surety, wholly or in part, from an obligation; or

• (e) invalidates or discharges a contract.

(1) In subsection (2), instruments means contracts, agreements, conveyances, deeds, leases, licences, undertakings, notices, and other instruments entered into by, made with, given to or by, or addressed to, the Statutory Trust Board or the Charitable Trust Board (whether alone or with another person) before the commencement of this Act and in effect immediately before that date.

(2) Instruments are binding on, and enforceable by, against, or in favour of, the trustee as if the instruments had been entered into by, made with, given to or by, or addressed to or by, the trustee and not the Statutory Trust Board or the Charitable Trust Board.

(1) A security held by the Statutory Trust Board or the Charitable Trust Board as security for a debt or other liability to the Statutory Trust Board or the Charitable Trust Board incurred before the commencement of this Act—

• (a) is available to the trustee as security for the discharge of that debt or liability; and

• (b) if the security extends to future or prospective debts or liabilities, is available as security for the discharge of debts or liabilities to the trustee incurred on or after the commencement of this Act.

(2) The trustee is entitled to the same rights and priorities, and is subject to the same liabilities, in relation to the security as the Statutory Trust Board or the Charitable Trust Board would be if this Act had not been passed.

(1) A document, matter, or thing that would have been admissible in evidence for or against the Statutory Trust Board or the Charitable Trust Board is, on and after the commencement of this Act, admissible in evidence for or against the trustee.

(2) For the purposes of this section, document has the same meaning as in section 4(1) of the Evidence Act 2006.

(1) The Registrar-General or any other person charged with keeping books or registers is not required to change the name of the Statutory Trust Board or the Charitable Trust Board to the name of the trustee in the books or registers or in a document solely because of the provisions of this subpart.

(2) If the trustee presents an instrument to a registrar or other person, the presentation of that instrument is, in the absence of evidence to the contrary, sufficient proof that the property is vested in the trustee, as specified in the instrument.

(3) For the purposes of subsection (2), the instrument need not be an instrument of transfer, but must—

• (a) be executed or purport to be executed by the trustee; and

• (b) relate to assets or liabilities held, managed, or controlled by the Statutory Trust Board or the Charitable Trust Board, or any entity wholly or partly owned or controlled by the Statutory Trust Board or the Charitable Trust Board, immediately before the commencement of this Act; and

• (c) be accompanied by a certificate given by the trustee or its solicitor stating that the property was vested in the trustee by or under this Act.

On the commencement of this Act, each employee of the Statutory Trust Board or the Charitable Trust Board ceases to be an employee of the board and becomes an employee of the trustee.

(1) The employment of a transferred employee must be on terms and conditions no less favourable to the transferred employee than those applying to him or her immediately before the commencement of this Act.

(2) Subsection (1)—

• (a) continues to apply to the terms and conditions of employment of a transferred employee until the terms and conditions are varied by agreement between the transferred employee and the trustee; and

• (b) does not apply to a transferred employee who accepts any subsequent appointment with the trustee.

For the purposes of any enactment, rule of law, determination, contract, or agreement relating to the employment of a transferred employee, the transfer of the person's employment from the Statutory Trust Board or the Charitable Trust Board to the trustee does not, of itself, break the employment of that person, and the period of his or her employment by the Statutory Trust Board or the Charitable Trust Board is to be regarded as having been a period of service with the trustee.

A transferred employee is not entitled to receive any payment or any other benefit solely on the ground that—

• (a) the position held by the employee with the Statutory Trust Board or the Charitable Trust Board has ceased to exist; or

• (b) the employee has ceased, as a result of his or her transfer to the trustee, to be an employee of the Statutory Trust Board or the Charitable Trust Board.

(1) Each member of the Reserves Board in office immediately before the commencement of this Act continues in office for the residue of the term for which he or she was appointed.

(2) The members holding office as chairperson and deputy chairperson of the Reserves Board continue in office for the residue of the term for which they were appointed.

(3) The first meeting of the Reserves Board under this Act must be held no later than 6 months after the last meeting held by the Reserves Board under the Orakei Act 1991.

This subpart applies, by virtue of the vestings under Part 4 and the reorganisation of the governance of Ngāti Whātua Ōrākei under subpart 1, for the purposes of the Inland Revenue Acts.

(1) On and from the date on which the assets and liabilities of the Statutory Trust Board vest in the trustee under Part 4 and section 79,—

• (a) the trustee is deemed to be the same person as the Statutory Trust Board; and

• (b) everything done by the Statutory Trust Board before the assets and liabilities vest in the trustee is deemed to have been done by the trustee on the date that it was done by the Statutory Trust Board.

(2) Income derived or expenditure incurred by the Statutory Trust Board before the assets and liabilities vest in the trustee does not become income derived or expenditure incurred by the trustee just because the assets and liabilities vest in the trustee under Part 4 or section 79.

(1) On and from the date on which the assets and liabilities of the Charitable Trust Board vest in the trustee under section 82(1),—

• (a) the trustee is deemed to be the same person as the Charitable Trust Board; and

• (b) everything done by the Charitable Trust Board before the assets and liabilities vested in the trustee is deemed to have been done by the trustee on the date that it was done by the Charitable Trust Board.

(2) Income derived or expenditure incurred by the Charitable Trust Board before the assets and liabilities vest in the trustee does not become income derived or expenditure incurred by the trustee just because the assets and liabilities vest in the trustee under section 82(1).

(3) If income of the Charitable Trust Board derived from a financial arrangement, trading stock, revenue account property, or depreciable property is exempt income of the Charitable Trust Board but is not exempt income of the trustee, the trustee is to be treated as having acquired the financial arrangement, trading stock, revenue account property, or depreciable property—

• (a) on the day that it becomes the trustee's property; and

• (b) for a consideration that is its market value on that day.

(4) The trustee must identify the undistributed charitable amount, using the following formula:

(5) The undistributed charitable amount described in subsection (4) is excluded from the corpus of the Ngāti Whātua Ōrākei Trust for the purposes of the Income Tax Act 2007, to the extent to which it is otherwise included but for this subsection.

(6) If the trustee distributes any of the undistributed charitable amount to a person, that amount is treated as beneficiary income for the purposes of the Income Tax Act 2007, unless subsection (7) applies.

(7) If the trustee distributes any of the undistributed charitable amount for a charitable purpose, the distribution is exempt income of the recipient.

(1) If the trustee makes an election under section HF 11 of the Income Tax Act 2007 to become a Maori authority, to the extent that the amount referred to in section 94(4) is distributed in an income year, that distribution will be—

• (a) exempt income if the distribution is applied for a charitable purpose; or

• (b) a taxable Maori authority distribution.

(2) If this section applies, the distribution must be disregarded for the purposes of section HF 8 of the Income Tax Act 2007.

(1) This section applies if income of a subsidiary derived from a financial arrangement, trading stock, revenue account property, or depreciable property is exempt income of the subsidiary before the commencement of this Act and ceases to be exempt income as a result of the application of section 83.

(2) The subsidiary is to be treated as having acquired the financial arrangement, trading stock, revenue account, or depreciable property for a consideration that is its market value on the commencement of this Act.

(1) If a subsidiary makes an election under section HF 11 of the Income Tax Act 2007 to become a Maori authority, income derived by the subsidiary before the commencement of this Act that was exempt income under sections CW 41 and CW 42 of that Act must be treated as a taxable Maori authority distribution if, after the commencement of this Act, it is distributed by the subsidiary in an income year.

(2) If this section applies, the distribution must be disregarded for the purposes of section HF 8 of the Income Tax Act 2007.

The Orakei Act 1991 (1991 No 122) is repealed.

Amend the enactments specified in Schedule 5 as set out in that schedule.