Media release
Ngati Ruanui receives fisheries assets
30 March 2006| Download as PDF - 210kb
Ngati Ruanui is to receive the first part of its share of the Maori Fisheries settlement assets. After completing the requirements of the Maori Fisheries Act and the Maori Fisheries Trust, Ngati Ruanui has reached Mandated Iwi Organisation (MIO) status, enabling it to receive fisheries assets amounting to approximately $3 million.
The Maori Fisheries Trust, Te Ohu Kaimoana, congratulated Ngati Ruanui on its achievement in implementing the management structure, constitution and register of members that are all required under the Maori Fisheries Act.
‘Ngati Ruanui is to be commended for all its hard work,’ Maori Fisheries Trust CEO Peter Douglas said. ‘The process to become an MIO involves a lot of groundwork by iwi in reaching consensus and meeting the requirements of the Act.’
Recognition of Ngati Ruanui as an MIO is also a first for Iwi Governance Entities.
‘Ngati Ruanui is the first of the four Iwi Governance Entities, formed during the settlement of treaty claims, to proceed through our programme,’ Mr Douglas said. ‘This demonstrates that the circumstances of the four Iwi Governance Entities can be catered for without significant changes.’
Ngati Ruanui will initially receive ownership of some deepwater quota, shares in Aotearoa Fisheries Limited and cash. The balance of its fisheries assets will be allocated once agreements have been reached with adjacent iwi.