Rather than a company, trust or other business model, Pakarae A and other blocks, Tapuwae Whitiwhiti and Whāngārā B5 chose to enter into a partnership. The main reason being under a partnership model they could design their own rules and maintain their taxation status as a Māori Authority.
From the outset, the Partners placed their land, buildings and livestock at the use of the partnership. This has allowed the Partners to retain ownership in their own names for these important assets. The value of the assets placed at the use of the partnership determined the profit share of the partners.
The other main document of the partnership is the terms of reference, which states the terms under which the partnership board operates. It is reviewed and set each year by the partners. This is an important control document for the partners as each year they need to approve the strategic plan, business plan and budget as proposed by the partnership board.
