They can
certainly pose problems when it comes to maintaining records, holding unclaimeddividends or meeting the statutory threshold for certain exceptional initiatives under
the Act (see below).
The Court
must also be satisfied that there is a sufficient degree of
support among the beneficiaries for the variation.
LIST OF CURRENT BENEFICIARIES
The MLC maintains up-to-date lists of beneficiaries.
When land is amalgamated, the
blocks of land are merged, the former titles are cancelled and a single combined ownership
list is issued. Records include:
o Lists of owners, the titles they own interest in and the value of the interest
o Land valuations
o Rates schedules
Māori Land Court Retention and Disposal Schedule Appraisal Report
22
o Records of leases and mortgages on the existing titles
o Applications
o Court orders
o Correspondence between owners...