✨ Trust Deed Details
26 APRIL 2011 NEW ZEALAND GAZETTE, No. 56 1299
DATED
2010
PARTIES
(1) Her Majesty The Queen in right of New Zealand acting by and through the Minister for Climate Change Issues (the "Settlor")
(2) Angela June Foulkes, Alan Parekura Torohina Haronga, Paul Te Poa Karoro Morgan, Cletus Maanu Paul, Guy Richard Kiniwe Royal, and Alexander John Wilson (the "Trustees")
BACKGROUND
A. The Settlor wishes to establish a trust to give effect to the purposes referred to in this deed.
B. On signing this deed the Settlor has paid $\10$ to the Trustees to be held upon the trusts and with the powers set out in this deed.
NOW THIS DEED RECORDS:
- DEFINITIONS AND CONSTRUCTION
1.1 Defined terms: In this deed, unless the context requires otherwise:
"Act" means that Climate Change Response Act 2002;
"Balance Date" means 31 March or any other date that the Trustees adopt by resolution as the date up to which accounts are to be made in each year;
"Bank" means a bank registered under the Reserve Bank of New Zealand Act 1989;
"Beneficiary" means:
(a) any person to whom Eligible CFL Land is transferred from the Crown to that person as part of a Treaty of Waitangi settlement; or
(b) the Crown in relation to Eligible CFL Land that, as a result of a Treaty of Waitangi settlement, is not transferred to a person referred in subclause (a);
"Capital" means the New Zealand Units held by the Trustees;
"Crown forest licence land" has the meaning set out in section 72(6)(a)(ii) of the Act;
"Eligible CFL Land" means pre-1990 forest land that was Crown forest licence land on 1 January 2008 and will not have been transferred to iwi as part of a Treaty of Waitangi settlement by the date on which the Pre-1990 Forest Land Allocation Plan is issued;
"Funding Agreement" means a funding agreement between the Crown and the Trustees;
"Income" means any payments received by the Trustees from the Crown pursuant to a Funding Agreement and any income derived from the investment of any of those payments;
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NZ Gazette 2011, No 56
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