Alienation: Selling, gifting and other land transactions
Transferring shares in a Māori incorporation
Can I transfer my shares in a Māori incorporation?
Te Ture Whenua Māori Act 1993, s 264; Māori Incorporations Constitution Regulations 1994, Schedule 1, clause 27
Yes, if you’re a shareholder in a Māori incorporation, you can transfer your shares (that is, sell, gift or exchange them).
The shares must be transferred to a member of the “preferred classes of alienees” (See the definition in “Key terms and definitions” at the start of this chapter), although if no member of the preferred classes can acquire the shares you can offer them to the incorporation as a last resort.
There might be a rule in the incorporation’s constitution for a minimum number of shares each person has to have. If you are transferring only some of your shares, you’ll need to make sure you and the person you are transferring them to will both have enough to be above that minimum. The minimum doesn’t apply if you’re transferring all of your shares.
How do I transfer my incorporation shares?
Māori Incorporations Constitution Regulations 1994, Schedule 1, clauses 28, 31; Schedule 2, Form 5
The Māori Land Court has an application form for this. You can contact the nearest court office for it.
Note: The form must also be signed and witnessed by one other person, who must state their address and occupation.
