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CFRT Transfers Rental Fees To Ngati Awa
22 April 2005
CFRT Transfers Rental Fees To Ngati Awa
On 26 April the Crown Forestry Rental Trust (CFRT) will transfer approximately $16.7 million of accumulated forestry rental fees to Te Runanga o Ngati Awa.
This rental money represents an addition to the $42 million Treaty settlement negotiated with the Government which is the fourth to include the return of Crown forest licensed land.
The settlement included a formal Crown apology, the transfer of seven sites of significance to Ngati Awa and a combination of cash and state-owned land, including 9,400 hectares of Crown forest licensed land.
The Ngati Awa Claim Settlement Act allows CFRT to transfer the accumulated rental fees from the 9400 hectares to Ngati Awa as the confirmed owner.
“The Ngati Awa settlement is important for CFRT because it represents the second largest amount of rental the Trust has ever been authorised to transfer to its confirmed owners.” CFRT Chairman, Sir Graham Latimer said. “But more importantly, it sets a positive example for other groups to follow.”
"Ngati Awa have made this transfer possible by getting on with the job and getting the claim settled. It is very satisfying to be able to return this property to its confirmed owners."
Sir Graham said the Trust was positive about the progress Maori and the Government were making in advancing claims over Crown forest licensed land. “The CFRT looks forward to further groups settling in the near future and being able to return rentals to more confirmed owners.”
CFRT Trustees will attend the formal Ngati Awa celebration in Te Teko on Saturday 23 April.
Background
The Crown Forestry Rental Trust is a Non-Government agency with equal numbers of Maori and Crown appointed Trustees. It receives no taxpayer funding.
The main purpose of Trust is the management and administration of interest earned from investment of rental proceeds from Crown forest licensed land.
It uses this to assist eligible Maori claimants in the preparation and presentation of claims involving Crown forest licensed land before the Waitangi Tribunal and negotiations with the Office of Treaty Settlements. CFRT cannot settle Treaty claims.
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