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News

TLTB explains delay of equal distribution lease monies

June 22, 2015 8:20 pm

The Itaukei Land Trust Board has revealed that they could not immediately implement the policy of the equal distribution of land lease because of logistical arrangements that needed to be sorted out.

TLTB General Manager Tevita Kuruvakadua made the comments responding to questions posed by the Parliament Standing Committee on Economic Affairs relating to the Petition put forward to consider the review of the distribution of lease monies currently being distributed to individual Landowners bank accounts.

Kuruvakadua says there are some key aspects of the policy which need to be looked at such as the upgrading of all TLTB IT System and IT infrastructure to handle the processing of lease monies from 4,500 distribution units to 300,000 individual landowner accounts.

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The policy decision for equal distribution of lease monies was introduced by Government with the amendment of the Native Land Leases and Licenses Regulations 2010.

This was to be effective from 1st January 2011.

TLTB confirms that the equal distribution of lease money only began in May of this year, 4 years since it was first effective.

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