It has been more than 10 years since a method for allocating the Māori Fisheries Settlement was determined and finalised. The method of allocation was given effect through the passage of the Māori Fisheries Act in 2004, and it created four important entities to govern and manage parts of the settlement. Those entities are:
- Te Ohu Kaimoana (the Māori Fisheries Trust)
- Aotearoa Fisheries Limited (AFL)
- Te Pūtea Whakatupu Trust and
- Te Wai Māori Trust
The Māori Fisheries Act provides for a review after 11 years of operation. The review is to assess the effect of the governance arrangements of the four entities' performances in discharging their duties and functions under the Act, including their ability to deliver benefits to the various beneficiaries of the settlement.
It is also to consider the effect of restrictions on the disposal of settlement assets as they relate to a Mandated Iwi Organisation’s (MIO) or Asset Holding Company’s (AHC) ability to deliver benefits to the iwi’s beneficiaries, as well as to AFL’s ability to deliver to its income shareholders (iwi and Te Ohu Kaimoana).
The role and operation of Te Kawai Taumata, which appoints members to the board of Te Ohu Kaimoana, will also be reviewed as part of the wider governance arrangements of Te Ohu Kaimoana.
The process for the review is prescribed by the Māori Fisheries Act 2004 and the review itself is undertaken by an independent reviewer appointed by a Committee of Representatives, comprising 11 people.
The members of the committee are appointed by MIOs, Registered Iwi Organisations (RIOs), and Representative Māori Organisations (RMOs) through their respective electoral colleges, also set up under the Act.
The committee has three important tasks to perform: it has to set the Terms of Reference for the review; appoint the reviewer, and receive and distribute the review to MIOs, RMOs, and the four entities.
The Draft Terms of Reference for the Review has been completed by the Committee of Representatives and distributed to relevant parties. The Terms of Reference for the Review can be downloaded here.