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s 214

Schedule 9
Consequential amendments

Company Law Reform (Transitional Provisions) Act 1994 (1994 No 16)

Repeal the item relating to the Māori Fisheries Act 1989 in the First Schedule.

Fisheries Act 1996 (1996 No 88) Insert in section 2(1), in the appropriate alphabetical order, the following definitions:

"Aotearoa Fisheries Limited has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"appointed day has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"asset-holding company has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"mandated iwi organisation has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"settlement quota has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"settlement quota interest means an interest registered in respect of quota management stocks under section 152A

"subcompany, in relation to Aotearoa Fisheries Limited, has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Ohu Kai Moana has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Ohu Kai Moana Trustee Limited has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Putea Whakatupu Trust has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Putea Whakatupu Trustee Limited has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Wai Māori Trust has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Wai Māori Trustee Limited has the meaning given to it in section 5 of the Māori Fisheries Act 2004".

Omit from section 26(6) the words "the Commission" and substitute the words"Te Ohu Kai Moana Trustee Limited".

Omit from the heading to section 29B the word "Commission", and substitute the words "Te Ohu Kai Moana Trustee Limited".

Omit from section 29B the word "Commission", and substitute the words "Te Ohu Kai Moana Trustee Limited".

Omit from section 30(2)(a) the words "the Commission" and substitute the words"Te Ohu Kai Moana Trustee Limited".

Omit from section 31(2) the words "the Commission" in both places where they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Omit from section 31(2) the words "the Commission's behalf" and substitute the words "behalf of Te Ohu Kai Moana Trustee Limited".

Omit from the heading to section 44 the word "Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited".

Omit from section 44(1) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited".

Omit from section 48(1) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited".

Insert in section 49A, after the words "quota register", the words "(other than a settlement quota interest)".

Insert in section 50, after subsection (1), the following subsections:

"(1A) Despite subsection (1), if settlement quota is held by the Crown as a result of forfeiture under this Act, the chief executive must, as soon as practicable after the date of forfeiture, endeavour to sell the quota to Te Ohu Kai Moana Trustee Limited or to 1 or more mandated iwi organisations in accordance with sections 161 (except subsection (2)) and 163 of the Māori Fisheries Act 2004.

"(1B) If, within 18 months of the date of forfeiture, all of the settlement quota referred to in subsection (1A) has not been sold by the Crown in accordance with sections 161 (except subsection (2)) and 163 of the Māori Fisheries Act 2004, the chief executive must transfer the remaining settlement quota to Te Ohu Kai Moana Trustee Limited.

"(1C) If settlement quota is transferred by the chief executive under subsection (1B), Te Ohu Kai Moana Trustee Limited must pay to the Crown a sum equivalent to the total of the cost recovery levies paid by the Crown in respect of the settlement quota for the period that the quota was held by the Crown."

Omit from section 52(3)(d)(i), (ii), and (iii) the words "the Commission" wherever they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Omit from section 52(4)(c) the words "the Commission" and substitute the words"Te Ohu Kai Moana Trustee Limited".

Omit from the heading to section 55 the words "to Commission" and substitute the words "to Te Ohu Kai Moana Trustee Limited".

Omit from section 55 the words "the Commission" in both places where they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Insert in section 59(8), after the words "Chatham Islands Enterprise Trust", the words ", Te Ohu Kai Moana Trustee Limited,".

Insert in section 59, after subsection (8), the following subsection:

"(8A) Subsection (1) does not prevent a person from owning the following quota, in addition to quota owned by that person immediately before the commencement of the Māori Fisheries Act 2004:

"(a) settlement quota, whether it was acquired by allocation under the Māori Fisheries Act 2004 or by purchase, exchange, or otherwise; or

"(b) quota purchased under a right of first refusal under any enactment; or

"(c) in the case of Aotearoa Fisheries Limited or its subcompanies---

"(i) quota transferred to it under section 75 of the Māori Fisheries Act 2004 by the Commission or by Te Ohu Kai Moana Trustee Limited:

"(ii) quota purchased after the commencement of the Māori Fisheries Act 2004; o

"(d) in the case of an asset-holding company of a mandated iwi organisation or a subsidiary of an asset-holding company, quota purchased after the commencement of the Māori Fisheries Act 2004 under an exemption consented to under---

"(i) section 28W(3) of the Fisheries Act 1983; or

"(ii) section 60 of the Fisheries Act 1996."

Insert in section 59, after subsection (10), the following subsection:

"(10A) For the purposes of subsection (10)(b) and (e), a person is not a person referred to in that subsection solely because the person is---

"(a) in the case of subsection (10)(b), a director of Te Ohu Kai Moana Trustee Limited, Te Putea Whakatupu Trustee Limited, or Te Wai Māori Trustee Limited; or

"(b) in the case of subsection (10)(e), a beneficiary, director, trustee, or officeholder, as the case may be, of---

"(i) Te Ohu Kai Moana, Te Putea Whakatupu Trust, or Te Wai Māori Trust; or

"(ii) a mandated iwi organisation or an asset-holding company; or

"(iii) any trust of which the settlor is Aotearoa Fisheries Limited or a subcompany."

Omit from section 59(11) the words "the Commission" in both places where they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Insert in section 74, after subsection (2), the following subsections:

"(2A) As soon as is reasonably practicable after Te Ohu Kai Moana Trustee Limited has notified the chief executive of the entities that it has approved under section 34 of the Māori Fisheries Act 2004, the chief executive must identify the approved entities on the annual catch entitlement register.

"(2B) In the case of a quota holding that includes settlement quota, if the annual catch entitlement from that quota is transferred in full to a commercial fisher that is registered as an approved entity under subsection (2A), the annual catch entitlement must be treated as if it were not less than the minimum amount required under subsection (1)."

Repeal section 78(12)(a) and substitute the following paragraphs:

"(a) Te Ohu Kai Moana Trustee Limited, a mandated iwi organisation, or members of an iwi, are not to be regarded as being included with any other person, whether or not that person is a mandated iwi organisation, merely because any of them has the status of being---

"(i) a beneficiary or income shareholder of Aotearoa Fisheries Limited; or

"(ii) a beneficiary of---

"(A) Te Putea Whakatupu Trust; or

"(B) Te Wai Māori Trust; or

"(C) Te Ohu Kai Moana; and

"(ab) Aotearoa Fisheries Limited is not to be regarded as being included with any other person merely because the other person holds, or benefits from, income shares in Aotearoa Fisheries Limited; and".

Omit from section 78(12)(b) the words "the Commission" and substitute the words"Te Ohu Kai Moana Trustee Limited".

Repeal section 79(6)(a) and (b) and substitute the following paragraphs:

"(a) Te Ohu Kai Moana Trustee Limited, a mandated iwi organisation, or members of an iwi are not to be regarded as being included with another person (whether or not that person is a mandated iwi organisation), merely because any of them is---

"(i) a beneficiary or income shareholder of Aotearoa Fisheries Limited; or

"(ii) a beneficiary of---

"(A) Te Ohu Kai Moana:

"(B) Te Putea Whakatupu Trust:

"(C) Te Wai Māori Trust; and

"(b) Aotearoa Fisheries Limited is not to be regarded as being included with another person merely because the other person holds, or benefits from, income shares in Aotearoa Fisheries Limited; and".

Insert in section 127(1), after paragraph (j), the following paragraph:

"(ja) every settlement quota interest registered under section 152A, and---

"(i) the name of Te Ohu Kai Moana Trustee Limited and of the quota owner over whose quota shares the settlement quota interest is registered; and

"(ii) the time and date of registration of the settlement quota interest; and

"(iii) the number of quota shares over which the settlement quota interest is registered:".

Add to section 127(1)(m) the word "; and", and also add the following subparagraph

"(iii) that any settlement quota that is forfeit is subject to a settlement quota interest registered under section 152A:"

Add to section 132(1) the word "; and", and also add the following paragraph:

"(c) in the case of quota shares subject to a settlement quota interest registered under section 152A, the transfer is authorised by Te Ohu Kai Moana Trustee Limited under section 158 of the Māori Fisheries Act 2004."

Insert in section 136, after subsection (1), the following subsection:

"(1A) Section 167(1) and (2) of the Māori Fisheries Act 2004 prevails over subsection (1)."

Add to section 139(2) the following paragraph:

"(c) the restrictions on a mortgagee's power of sale defined in section 140A."

Insert in section 140, after subsection (5), the following subsection:

"(5A) In addition to giving the notice under subsection (1), if any of the quota shares are subject to a settlement quota interest registered under section 152A, the mortgagee must, after serving notice on the quota owner, immediately serve a copy of the notice on Te Ohu Kai Moana Trustee Limited; however, failure to comply with this subsection does not in itself prevent money secured by a mortgage from being payable, or being deemed to have become payable."

Insert, after section 140, the following section:

"140A Restriction on transfer by mortgagee

"(1) Despite sections 139 and 140, if a mortgagee exercises a power of sale over settlement quota, the mortgagee must transfer the settlement quota in accordance with sections 161 (except subsection (2)) and 163 of the Māori Fisheries Act 2004 as if the mortgagee were a mandated iwi organisation.

"(2) Despite section 145(1), the transfer of quota under subsection (1) does not remove the settlement quota interest."

Insert in section 145, after subsection (1), the following subsection:

"(1A) Subsection (1) does not limit section 152B(3) and (4)."

Insert, after section 152, the following heading and sections:

"Settlement quota interests

"152A Registration
The chief executive must register a settlement quota interest against the quota shares notified by Te Ohu Kai Moana Trustee Limited as soon as reasonably practicable after receiving---

"(a) a request in accordance with section 160(2) of the Māori Fisheries Act 2004; and

"(b) payment by Te Ohu Kai Moana Trustee Limited of the prescribed fee.

"152B Effect of registering settlement quota interest against quota shares

"(1) Between the appointed day and the time when a settlement quota interest is registered against the quota specified by Te Ohu Kai Moana Trustee Limited, there must be no dealings with the quota shares listed in Schedule 1 of the Māori Fisheries Act 2004, except for their transfer to Te Ohu Kai Moana Trustee Limited.

"(2) While there is a settlement quota interest registered against quota, no transfer of that quota may be registered unless---

"(a) the transfer is---

"(i) authorised by Te Ohu Kai Moana Trustee Limited and the owner under section 160 of the Māori Fisheries Act 2004; or

"(ii) ordered by the Court; or

"(b) the settlement quota is forfeit to the Crown under section 61 or sections 255 to 255E.

"(3) To avoid doubt, a settlement quota interest remains in force if settlement quota is transferred, unless the settlement quota interest is removed in accordance with section 160 of the Māori Fisheries Act 2004.

"(4) However, the fact that a settlement quota interest is registered against the quota does not exclude the quota from being subject to a mortgage or caveat under this Act.

"(5) Subsection (2) overrides section 145(1)."

Insert in section 163(1), after the word "caveat", the words "or settlement quota interest".

Insert in section 163(2), after the word "caveat", the words "or settlement quota interest".

Omit from section 255(4) and (5) the words "the Commission" wherever they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Insert in section 255E, after subsection (1), the following subsection:

"(1A) Despite subsection (1), if settlement quota is forfeit to the Crown under this Act, the quota continues to be subject to a settlement quota interest."

Insert in section 256, after subsection (11), the following subsection:

"(11A) If the Court makes an order under subsection (11) that relates to settlement quota, the person taking possession of that quota by order of the Court may only dispose of the quota in accordance with sections 161 (except subsection (2)) and 163 of the Māori Fisheries Act 2004, as if he or she were a mandated iwi organisation."

Omit from section 343(1)(b), (2B), and (2C) the words "the Commission" wherever they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Omit from the first column of Schedule 5 of the Fisheries Act 1996 the words"Treaty of Waitangi Fisheries Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited".

Omit from the first column of Schedule 16 of the Fisheries Act 1996 the words"Treaty of Waitangi Fisheries Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited".

Human Rights Amendment Act 2001 (2001 No 96) Repeal the item relating to the Māori Fisheries Act 1989 in Part 1 of Schedule 2.

Income Tax Act 1994 (1994 No 164) Repeal paragraphs (h), (i), and (j) of section HI 2 and substitute the following paragraphs:

"(h) Te Ohu Kai Moana Trustee Limited, established in accordance with section 33 of the Māori Fisheries Act 2004:

"(i) Aotearoa Fisheries Limited, established in accordance with section 60 of the Māori Fisheries Act 2004:

"(ia) a company that is---

"(i) established by a mandated iwi organisation to be an asset-holding company, as contemplated by section 12(1)(d) of the Māori Fisheries Act 2004:

"(ii) recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13(1) of the Māori Fisheries Act 2004:

"(ib) the trustees of a trust that is recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13(1) of the Māori Fisheries Act 2004:

"(j) the trustees of the trusts that are established by Te Ohu Kai Moana Trustee Limited in accordance with sections 79 and 92 of the Māori Fisheries Act 2004:".

Income Tax Act 2004 (2004 No 35) Repeal paragraphs (h), (i), and (j) of section HI 2 and substitute the following paragraphs:

"(h) Te Ohu Kai Moana Trustee Limited, established in accordance with section 33 of the Māori Fisheries Act 2004

"(i) Aotearoa Fisheries Limited, established in accordance with section 60 of the Māori Fisheries Act 2004:

"(ia) a company that is---

"(i) established by a mandated iwi organisation to be an asset-holding company, as contemplated by section 12(1)(d) of the Māori Fisheries Act 2004:

"(ii) recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13(1) of the Māori Fisheries Act 2004:

"(ib) the trustees of a trust that is recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13(1) of the Māori Fisheries Act 2004:

"(j) the trustees of the trusts that are established by Te Ohu Kai Moana Trustee Limited in accordance with sections 79 and 92 of the Māori Fisheries Act 2004:"

Ministry of Agriculture and Fisheries (Restructuring) Act 1995 (1995 No 31) Repeal section 22(1) and (2).

Omit from section 22(3) the words "the Commission" in both places where they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited".

Insert in section 22, after subsection (3), the following subsections:

"(3A) However, as soon as reasonably practicable after Te Ohu Kai Moana Trustee Limited has recognised the mandated iwi organisation of Ngati Toa Rangatira under section 13(1) of the Māori Fisheries Act 2004, or its recognised iwi organisation under section 27 of the Māori Fisheries Act 2004, Te Ohu Kai Moana Trustee Limited must transfer to the organisation the quota referred to in subsection (3).

"(3B) Except as provided for in subsection (3A), the provisions of the Māori Fisheries Act 2004 do not apply to the quota referred to in subsection (3).

"(3C) To avoid doubt, the quota referred to in subsection (3) is not quota that is included in the existing undertaking as defined in section 189 of the Māori Fisheries Act 2004."

Repeal subsection (4) of section 22 and substitute the following subsections:

"(4) Section 74 of the Fisheries Act 1996 does not prevent Te Ohu Kai Moana Trustee Limited from holding the quota referred to in subsection (3) for the purpose of this section

"(4A) In this section,---

"mandated iwi organisation has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"recognised iwi organisation has the meaning given to it in section 5 of the Māori Fisheries Act 2004

"Te Ohu Kai Moana Trustee Limited has the meaning given to it in section 5 of the Māori Fisheries Act 2004."

Public Audit Act 2001 (2001 No 10) Repeal the reference to the Treaty of Waitangi Fisheries Commission in Schedule 2.

Repeal the item relating to the Māori Fisheries Act 1989 in Schedule 4.

Treaty of Waitangi (Fisheries Claims) Settlement Act 1992 (1992 No 121) Repeal sections 12 to 20

Legislative history

20 November 2003 Introduction (Bill 90-1)
4 December 2003 First reading and referral to the Fisheries and Other Sea-related Legislation Committee
9 August 2004 Reported from Fisheries and Other Sea-related Legislation Committee (Bill 90-2)
7, 14, 15 September 2004 Committee of the whole House (Bill 90-3)
16 September 2004 Third reading
25 September 2004 Royal assent