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MLC incorporations english

If the Māori incorporation holds land that has been determined to be “investment land” in terms of section 256 of the Act, it may gift or sell that land without restriction. Granting a lease The Māori incorporation can grant a lease of any land it holds, but any lease over Māori freehold land for a term of more than 52 years must be agreed to by a resolution passed by the shareholders owning at least 50 percent of the shares and approved by the Māori Land Court.

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