November 04, 2022
Māori Trustee seeks changes to Act
The Māori Trustee is seeking changes to the Māori Trustee Act 1953 so it can make grants instead of just loans.
It also wants to be able to use unclaimed money in its common fund for grants or loans, while preserving the rights of those to claim their money plus interest.
Te Tumu Paeroa and Te Puni Kōkiri are seeking feedback on the proposed changes before the end of November.
Māori Trustee Charlotte Severne says it’s an early-stage process to test any appetite for whether she should be able to make grants to support Māori development, and what types of things should grants be used for.
The proposed amendments would not affect Māori land claims or how whānau succeed to Māori land.
Dr Severne says some Māori land trusts and businesses cannot afford to service loans, so grant funding is a way to assist them.
The Māori Trustee administers about 1,800 Māori land trusts and other Māori entities
There’s just over $28 million in its Common Fund for which beneficiaries can’t be found, and the amount increases by about $1 million a year.