New Zealand Acts

WHAKATŌHEA CLAIMS SETTLEMENT ACT 2024 - SECT 190

190 Status of existing securities

1 A security held by the Board or the Whakatōhea Fisheries Trust as security for a debt or other liability to the Board or the Trust incurred before the commencement of this Act—

a) is available to the trustees of Te Tāwharau o Te Whakatōhea as security for the discharge of that debt or liability; and

b) if the security extends to future or prospective debts or liabilities, is available as security for the discharge of debts or liabilities to the trustees of Te Tāwharau o Te Whakatōhea incurred on or after the commencement of this Act.

2 The trustees of Te Tāwharau o Te Whakatōhea are entitled to the same rights and priorities, and are subject to the same liabilities, in relation to the security as the Board or the Whakatōhea Fisheries Trust would be if this Act had not been passed.