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waikato-tainui
annual report 2014
1 . g en e r a l i n f o rmat i on
The Waikato Raupatu Lands Trust (‘Trust’ or ‘Parent’) and its subsidiaries (together referred to as the ‘Group’) have the following
principal activities in New Zealand:
• grant distribution;
• property investment;
• property development;
• agriculture;
• hotels;
• fishing; and
• investments.
The Parent is a trust incorporated and domiciled in New Zealand.
These consolidated financial statements have been approved for issue by the Board of Trustees (the ‘Board’) on 20 June 2014.
The Group’s Trustees do not have the power to amend the financial statements once they have been issued.
Waikato Raupatu Land Settlement
On 22 May 1995, Waikato-Tainui signed the Deed of Settlement with the Crown’s representatives for a full and final settlement
of its Raupatu claim to be made to the Waikato Raupatu Lands Trust. This agreement formed the basis for the Waikato Raupatu
Claims Settlement Act 1995.
The settlement, being the redress value, is specified as $170 million. The settlement was realised as follows:
(a) Te Rapa Airforce Base transferred to Waikato-Tainui in 1993 as an advance on the Settlement (at agreed 1993 market value);
(b) Crown reimbursement of negotiation and research costs incurred by Tainui Maaori Trust Board being amounts paid from 21
September 1992 totalling $2.6 million;
(c) Lands situated in the Waikato-Tainui claim area which were owned by the Crown and selected by Waikato-Tainui (the
process is outlined in the Deed of Settlement) at values agreed between the parties using the valuation methodology stated
in the Deed of Settlement; and
(d) Any balance remaining was paid in cash to the Waikato Land Acquisition Trust which transferred the cash to the Waikato
Raupatu Lands Trust as and when required to fund the purchase of other lands.
The Lands referred to in (c) above were identified, transfer dates agreed upon and transfer values determined by both parties by
30 November 1996. These Lands were to be returned over a five year period from 22 May 1995. In addition, interest was paid by
the Crown on the outstanding balance of the redress value.
As part of the Deed of Settlement, a relativity clause is provided, which allows for further settlement redress. The payment of
further settlement from the Crown was triggered in the financial year ended 31 March 2013, once all Treaty settlements since
1994 exceeded $1 billion. No settlement is payable after 2044. The next claim will be received in 2017 and the five yearly
thereafter (see also notes 15 and 29).
Waikato Raupatu River Settlement
On 17 December 2009, a Deed of Settlement (the “Settlement”) was made between the Crown and Waikato-Tainui to settle the
claim by Waikato-Tainui for the Waikato River.
waikato raupatu lands trust
notes to the financial statements
f o r t h e y e a r e n d e d 3 1 m a r c h 2 0 1 4
