Major Transaction

A Major Transaction means:

  • the acquisition of, or an agreement to acquire, property whether contingent or not, by Te Runanga or any of its subsidiaries the value of which is more than half the value of the Trust Fund before the acquisition; or
  • The disposition of, or an agreement to dispose of, property whether contingent or not, by Te Runanga or any subsidiaries the value of which is more than half the value of the Trust Fund before the disposition of; or
  • A transaction that has, or is likely to have, the effect of Te Runanga or any of its subsidiaries acquiring rights or interests or incurring obligations or liabilities the value of which is more than half the value of the Trust before the transaction.

Te Rūnanga o Ngāti Tama Declaration of Trust clause 2.1