525 Blenheim Road Limited

The charitable purpose of the entity is to carry on or undertake any business or activity, do not act or enter into any transaction provided however that the Company shall exercise all such powers and privileges and apply all income and/or capital from the Company exclusively for the benefit of those Papatipu Runanga entities that are the Company's shareholders from time to tome and either on first incorporation of the Comapny or if clause 11.3(4) of the rules applies, Ngai Tahu Property Limited.