New Zealand Legislation: Regulations

10 Māori Trustee must report to account holders

• (1) The Māori Trustee must report to the holders of an account in the Common Fund to disclose the following information for the financial year immediately prior to the report:

  • (a) the amount of the distributable income paid in respect of the holder's account; and

  • (b) the amount of the management fee charged or retained in relation to that account, as provided for by regulation 7; and

  • (c) the net amount of the distributable income paid by the Māori Trustee in total to all account holders in the year to which the report relates.

  (2) The report must be made not later than 30 June in each year.

  (3) The Māori Trustee may provide the report required under subclause (1) by electronic or other standard means that the Māori Trustee considers to be appropriate in the circumstances.

  (4) If, after making reasonable inquiry, the Māori Trustee is unable to contact an account holder for the purpose of making the report required by this regulation, the Māori Trustee—

  • (a) is not obliged to report to that account holder; but

  • (b) must retain a summary of the information on that holder's account to enable appropriate disclosure to the account holder as soon as contact is able to be made with that account holder.

  (5) This regulation does not prevent the Māori Trustee from including the report required by subclause (1) with any other information.