NGĀ IWI - TRIBES
ACE Rounds 2005
For a copy of the latest Pānui click on the links below.
- PĀNUI No.1 OCTOBER 2005 ACE ROUNDS
(PDF - 198kb)
Please provide any comments on this by close of business Monday 10th October 2005.
- PĀNUI No.1 APRIL 2005 ACE ROUNDS
(PDF - 123kb)
About ACE Rounds
ACE stands for Annual Catch Entitlement.
Under New Zealand’s quota management system (QMS), commercial fisheries quotas have two components:
• an asset component called ‘quota shares’
• an annual use component called ‘ACE’.
Since 1993, the Treaty of Waitangi Fisheries Commission (the forerunner
to Te Ohu) has made ACE available to iwi through ACE distributions linked
to the two principal fishing ‘years’ of 1 April and 1 October.
How do ACE Rounds benefit iwi?
ACE Rounds were established to give iwi organisations experience in the business and activity of fishing. Iwi can do a range of things with this use right including on-selling the right, fishing the ACE or entering into business arrangements with other fishing companies.
Te Ohu also makes the ACE available at a substantially discounted rate from the market value. Te Ohu estimates this provides $18-20 million annually in economic benefits to all iwi.
Once quota shares are transferred to mandated iwi organisations, they will be able to generate their own ACE.
How will ACE Rounds work now?
Under the Māori Fisheries Act 2004, iwi will continue to benefit from ACE Rounds, until they become quota owners.
Prior to each ACE distribution, Te Ohu will send out Pānui to iwi detailing the requirements iwi must meet to receive ACE.