The Māori Fisheries Amendment Act 2011

The Māori Fisheries Amendment Act 2011 has amended the Māori Fisheries Act 2004. It enables the transfer of Mandated Iwi Organisation status and fisheries settlement assets from an existing Mandated Iwi Organisation to another separate entity of the same iwi, and exempts the asset transfer from the protective provisions of the Act that would require their sale.

Background

• The Māori Fisheries Act requires that fisheries settlement assets (being income shares in Aotearoa Fisheries Ltd and fisheries settlement quota) held by an iwi must be held by a Mandated Iwi Organisation.
• Previously, if an iwi attempted to transfer the fisheries settlement assets to another separate entity of the same iwi, protective provisions of the Māori Fisheries Act required sale of the assets to the highest eligible bidder from other Mandated Iwi Organisations and Te Ohu Kai Moana Trustee Ltd.

Legislative Change

• The Māori Fisheries Amendment Act 2011 amends the Māori Fisheries Act 2004 to:
  • enable the transfer of the status of a Mandated Iwi Organisation (MIO), and all fisheries settlement assets held by that MIO and its subsidiaries to another separate entity within the governance arrangements of the same iwi; and,
  • exempt the transfer of assets from the provisions of the Māori Fisheries Act that would otherwise require the fisheries settlement assets that are associated with such a transfer to be offered for sale to other iwi or Te Ohu Kai Moana Trustee Limited.
• The amendments improve the Māori Fisheries Act by giving better effect to the objective of the Act that an iwi retain its fisheries settlement assets. They also better enable iwi to consolidate and manage their assets under the most efficient and cost effective governance structure.

• Back to Te Ture Whenua Māori Amendment Act 2011
• Next: Where Can I Obtain Copies of the New Legislation?