RIDL is a separate legal entity from RST and operates under the Companies Act 1993 and other relevant legislation.
RIDL is owned by Raukawa Settlement Trust (RST) and its ultimate shareholders are the Raukawa descendants, who affiliate to Raukawa’s 16 marae. These marae elect representatives to serve on RST, who in turn appoint the directors to RIDL, in conjunction with advice from the sitting board members.
RIDL’s board of directors is responsible and accountable for the company’s performance. RIDL’s directors are appointed by RST in accordance with the company’s constitution.
This specifies:
- The Board of Directors of the Company shall consist of a minimum of five Directors and a maximum of six Directors
- A minimum of fifty percent (50%) of the Directors appointed by the Shareholder must be Trustees.
- A maximum of three Directors appointed by the Shareholder may be Trustees.
- One of the non-Trustee directors must be a member of the Raukawa iwi