In 1974 a Commission of Inquiry was set up in response to a national outcry over the 1967 Act which allowed the sale of Native Reserves to lessees. As a result the Maori Trustee’s administration of the Tenths was revoked and Wakatu Incorporation – a body of Maori shareholder-owners - was formed in 1977. Shareholders elect a Committee of Management to administer their assets, and dividends are distributed annually.

Wakatu Incorporation took over 2,994 acres made up of the remnant of the Tenths Reserves and some Occupation Reserves in Motueka and Golden Bay which had been administered by the Maori Trustee, consisting of 771 titles, all except one of which were in perpetual leases with income severely restricted by legislation.

Wakatu has taken a proactive stance towards increasing the value of its shareholders’ assets and the prosperity of its people. It has managed to retire the leases on some of its lands, which are now the base for extensive fruit growing enterprises, and has diversified into residential, commercial and industrial developments, fishing, aquaculture, forestry, viticulture and wine making, and more recently tourism. The Incorporation adds value to many of its primary products by processing, packaging and marketing. From an $11 million base in 1977, it has grown to a current value of $220+ million in 2005 and is proud of its record of offering training, scholarships and employment to members of its shareholders’ families.