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Trustee duties
Ngā mōhiotanga
Acquaintance
As a trustee you need to know:
what is being administered by the trust (any land or other assets of the trust)
the terms of trust (your powers and responsibilities under the trust order)
all the issues affecting the trust.
With shares held by individuals becoming increasingly fractionated but shares held in whānau trusts being relatively stable, I foresee a time when these whānau trusts will be major shareholders in trusts and incorporations.
Examples of what could be considered ‘simple’ trust matters
include:
• forming a whānau trust for a single owner’s interests or
shares; or
• terminating a kaitiaki trust for a minor when the person
reaches 20 years of age; or
• appointing a trustee to a whānau trust.
Governance entities In the context in which I work, we have a range of governance entities, from trusts to incorporations, but no matter what the governance structure is - whether it is an ahu whenua trust, a whānau trust, a whenua tōpū trust, a pūtea trust, a kaitiaki trust, or an incorporation - key governance skills and capabilities are required.
Where that land is vested in a trust or an incorporation,
such an order will only be made with the consent of the trust
or management committee, and may be made for a specified
period.
Court It does
Greg Shaw The other thing | wanted to note your Honour although we have indicated
the costs would not fall on the owners of these lands | would like to make it clear that at
this point in time the Maon Trustee hasnt recewved confirmation of funding by the Crown
for this work nevertheless we are proceeding \We dont believe we can just delay any
further to begin this work but | want to make it clear to the Court that at this stage the
funding hasnt been secured for that additional w...
Where the Māori Trustee has been appointed as responsible trustee of a Māori Land Trust, we provide a range of services that support the owners and trustees, including:
Administer trusts in accordance with the trust order
Convene and facilitate owner hui, also known as meetings of owners
Provide reports and information regarding the administration of the trust and the whenua to advisory trustees and owners
Identify and undertake work to protect and enhance the wh...
Where the Māori Trustee has been appointed as responsible trustee of a Māori Land Trust, we provide a range of services that support the owners and trustees, including:
Administer trusts in accordance with the trust order
Convene and facilitate owner hui, also known as meetings of owners
Provide reports and information regarding the administration of the trust and the whenua to advisory trustees and owners
Identify and undertake work to protect and enhance the wh...
