Media release
Significant progress in allocation of fisheries assets - Waikato and Ngai Tahu
18 May 2006| Download as PDF - 217kb
The process of mandating iwi organisations and the subsequent transfer of Maori fisheries assets continued today as the first two iwi to conclude significant historical treaty settlements with the Crown, Waikato and Ngai Tahu, were recognised as Mandated Iwi Organisations (MIO) by the Maori Fisheries Trust, Te Ohu Kaimoana.
Having completed the requirements of the Maori Fisheries Act, both iwi will receive the first part of their respective fisheries assets, amounting to approximately $26 million for Waikato and $58 million for Ngai Tahu.
They will initially receive ownership of 75% of their respective deepwater quota, shares in Aotearoa Fisheries Limited and cash. The balance of their fisheries assets will be allocated once agreements have been reached with neighbouring iwi.
Since September 2005, 19 other iwi have been recognised as MIOs by the Maori Fisheries Trust, which has transferred assets worth over $150 million to date.
Peter Douglas, CEO of the Maori Fisheries Trust, said all iwi entities that have already received Treaty settlement claims still needed to comply with the Maori Fisheries Act and he congratulated Waikato and Ngai Tahu on their achievements.
Mr Douglas paid tribute to the Maori Fisheries Settlement negotiators the late Matiu Rata, Sir Graham Latimer, Sir Tipene O’Regan and the late Sir Robert Mahuta.
‘The work they began 20 years ago has led to these developments today. Were it not for their efforts, none of this would be possible. We should not forget, however, how difficult that initial work was in those early days.’
He also said he was delighted that the Waikato announcement came in the same week as the 40th jubilee celebrations of Dame Te Atairangikaahu’s coronation.