New Zealand Acts

WHAKATŌHEA CLAIMS SETTLEMENT ACT 2024 - SECT 134

134 Formation of contract

1 If the trustees accept an offer by an RFR landowner to dispose of RFR land, a contract for the disposal of the land is formed between the RFR landowner and the trustees on the terms in the offer.

2 The terms of the contract may be varied by written agreement between the RFR landowner and the trustees.

3 Under the contract, the trustees may nominate any person (the
"nominee" ) to receive the transfer of the RFR land.

4 The trustees may nominate a nominee only if—

a) the nominee is lawfully able to hold the RFR land; and

b) notice is given to the RFR landowner on or before the day that is 10 working days before the day on which the transfer is to settle.

5 The notice must specify—

a) the full name of the nominee; and

b) any other details about the nominee that the RFR landowner needs in order to transfer the RFR land to the nominee.

6 If the trustees nominate a nominee, the trustees remain liable for the obligations of the transferee under the contract.