Wakatū was established in 1977. The land returned to it comprised the remnants of the Nelson Tenths and some Occupational Reserves. This whenua (land) formed the corpus land vested in Wakatū Incorporation.

The beneficial entitlement of the owners was recognised by converting the value of the whenua into shares and issuing those shares to the owners. It comprised 1393.77ha valued at $11,064,710.

Te Ture Whenua Māori Act 1993 and the Māori Reserved Land Act 1955 (plus amendments) set out the minimum obligations of Wakatū with regard to whenua.

The intention of Te Ture Whenua Māori Act and of Wakatū is that the corpus be maintained. Both in area and in present value, reflecting initial corpus holdings. 

Accountability

We maintain a Corpus Reserve Memorandum account which reconciles the initial whenua introduced to Wakatū, along with subsequent disposals and additions. The corpus can include whenua as well as improvements such as buildings. 

Corpus land disposals and disclosures are subject to shareholder approval.