IWI IKA - supporting iwi fisheries

Becoming a Director

The role of an AHC director is one of the most important in ensuring the retention and growth of fisheries settlement assets.   Directors are responsible for overseeing the AHC’s day to day business.  In doing so, directors owe duties to the AHC, to its shareholder (MIO), and to others dealing with the AHC.  Every AHC must have at least one director,  the maximum number of directors is generally set by the AHC's constitution.

By accepting a directorship you are exposing yourself to a level of risk and to the legal and business responsibilities that go with being a director.  One of the primarily legal responsibilities of a director is that directors must not carry on the business in a manner likely to create a substantial risk of serious loss to the company’s creditors, otherwise referred to as “reckless trading”.  Furthermore the Companies Act requires directors to abide by a two-step test at all times:

  1. The AHC must own more assets than liabilities
  2. The AHC must be able to pay all its accounts as they fall due

For a better understanding of the role of a director refer to the AHC Director Job Description below.

AHC Director Job Description (Word - 38kb)
* This template information was kindly supplied by Ngati Ranginui Fisheries Holding Company Ltd, Tauranga.

Read Institute of Directors indepth article on Director's responsibilities

Related pages:
AHC Director Training