New Zealand Legislation: Acts

27 Provisions consequential on dissolution of Te Runanganui o Tahu Incorporated and vesting of assets

• Without limiting the generality of section 26 of this Act, the following provisions shall have effect on and after the day on which this Act comes into force:

  • (a) all contracts, agreements, conveyances, deeds, leases, licences, and other instruments, undertakings, and notices (whether or not in writing), entered into by, made with, given to or by, or addressed to Te Runanganui o Tahu Incorporated (whether alone or with any other person) before the commencement of this Act shall, to the extent that they were previously binding on and enforceable by, against, or in favour of Te Runanganui o Tahu Incorporated, be binding on and enforceable by, against, or in favour of Te Runanga o Ngai Tahu as fully and effectually in every respect as if, instead of Te Runanganui o Tahu Incorporated, Te Runanga o Ngai Tahu had been the person by whom they were entered into, with whom they were made or to or by whom they were given or addressed, as the case may be:

  • (b) an instruction, order, direction, mandate, or authority given to Te Runanganui o Tahu Incorporated and subsisting immediately before the commencement of this Act shall be deemed to have been given to Te Runanga o Ngai Tahu:

  • (c) a security held by Te Runanganui o Tahu Incorporated as security for a debt or other liability to Te Runanganui o Tahu Incorporated incurred before the commencement of this Act shall be available to Te Runanga o Ngai Tahu as security for the discharge of that debt or liability and, where the security extends to future or prospective debts or liabilities, shall be available as security for the discharge of debts or liabilities to Te Runanga o Ngai Tahu incurred after the commencement of this Act; and, in relation to a security, Te Runanga o Ngai Tahu shall be entitled to all the rights and priorities (howsoever arising) and shall be subject to all liabilities to which Te Runanganui o Tahu Incorporated would have been entitled or subject if this Act had not been passed:

  • (d) all the rights and liabilities of Te Runanganui o Tahu Incorporated as bailor or bailee of documents or chattels shall be vested in and assumed by Te Runanga o Ngai Tahu:

  • (e) a negotiable instrument or order for payment of money which before the commencement of this Act is drawn on or given to or accepted or endorsed by Te Runanganui o Tahu Incorporated or payable at a place of business of the Ngaitahu Maori Trust Board shall, unless the context otherwise requires, have the same effect after the commencement of this Act as if it had been drawn on or given to or accepted or endorsed by Te Runanga o Ngai Tahu instead of Te Runanganui o Tahu Incorporated or was payable at the place of business of Te Runanga o Ngai Tahu; except that nothing in this paragraph shall be construed as a merger of the parties to any negotiable instrument:

  • (f) any action, arbitration, or proceedings or cause of action which immediately before the commencement of this Act is pending or existing by, against, or in favour of Te Runanganui o Tahu Incorporated or to which Te Runanganui o Tahu Incorporated is a party may be prosecuted, and without amendment to any writ, pleading or other document, continued and enforced by, against, or in favour of Te Runanga o Ngai Tahu.