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Transferring shares totrustees
Māori land shares can be transferred, by a
vesting order, toatrustee from a person who
owns, or is entitled to own, Māori land shares.
Transferring shares totrustees
Māori land shares can be transferred, by a
vesting order, toatrustee from a person who
owns, or is entitled to own, Māori land shares.
Currently under the Act it is not possible to appoint atrustee or trusteesto administer
land in such circumstances because the Court is required to be satisfied that the
owners “have had sufficient notice of the application and sufficient opportunity to
discuss and consider it” per s 215(4)(a).
Where one or more of the trustees are unable or refuse to sign the mortgage documents,
the remaining trustees can apply to the Court:
(a) To seek directions;
(b) To remove any trustees who have passed away or resigned;
(c) To remove atrustee for cause for refusing to implement the majority decision;
or
(d) To approve the mortgage documents being signed by a majority of trustees...
A person may be disqualified from becominga member if they are:
subject to an order appointing a manager under section 31 of the Protection of Personal and Property Rights Act 1998 ; or atrustee corporation managing the persons' property under section 32 or 33 of this Act
an undischarged bankrupt, or
convicted of crimes punishable by imprisonment for a period of six months or more, unless they have served the sentence or have otherwis...