06 Dec Update for future owners of the Te Puia business – Panui #2
Nga mihi maioha ki a koutou i runga i nga tini ahuatanga o te wa. Ratau te hunga wairua ki a ratau, tatau te hunga ora ki tatau. Na reira, tena koutou, tena koutou – tena ra tatau katoa.
On 17 August 2017 we sent you, the future owners of the Te Puia business, Panui #1 advising you of the next steps in the Te Puia Vesting. A copy of Panui # 1 is attached again for your information.
This further Panui#2 is an update on progress since then.
Vesting Bill Drafted and First Reading in Parliament!
As noted in Panui # 1 the main focus of Te Puia Management Limited since last year was to work with the Crown on drafting and agreeing on a Bill to be introduced to Parliament.
The majority of our work on the draft Vesting Bill was actually completed in mid2018 but given the change of Government it has taken much longer to have the Bill introduced to Parliament than we would have liked.
The good news is that on 4 December 2018 we received confirmation from Te Puni Kokiri that the Vesting Bill will have its First Reading in Parliament on 19 December 2018. This will mark another important step in having the Te Puia Business vested in the Te Puia NZMACI Limited Partnership and into our ownership.
Given the very short notice and being so close to Christmas a small rop0 representing the new owners will travel down to Wellington to acknowledge this day.
Next year we will have much more notice of the third and final reading of the Vesting Bill and will put an invite out to all whanau who may want to travel to Wellington for that day.
In terms of timing, we hope that the Vesting Bill will be passed through Parliament in mid to late 2019. We will keep you all informed as these dates become more certain.
We hope you have found this further update useful. If you have any questions feel free to contact us at Te Puia NZMACI Management Limited.
Nga mihi nunui
Bryce Murray, for and behalf of Te Puia I NZMACI Management Limited