New Zealand First has called on the Government to ensure that Brierley Investments’ fifty per cent share of Sealords remains in New Zealand hands and is not “flogged off” overseas.

Brierley’s has reportedly approached the Overseas Investment Commission to seek a reaction to an overseas party buying its share of Sealords.

The other half is owned by the Waitangi Fisheries Commission.

New Zealand First Leader, Rt Hon Winston Peters, raised the issue in Parliament today, questioning both the legality and morality of Brierley Investments selling fishing quota to overseas companies.

“We have a tricky situation here in which a New Zealand resource, fishing quota, is apparently being offered overseas.

“The quota is actually vested in a company called Te Ika Paewai Limited (jointly owned by Brierley’s and the Waitangi Fisheries Commission) and so the question arises as to whether Brierley’s is actually entitled to sell it.

“According to Fisheries Laws only companies which actually own fishing quota can sell it.”

Mr Peters explained that he was aware of New Zealand companies being keen to buy into Sealords and said that this would be better than allowing such a large stake of it to pass into foreign ownership.

“It would also mean that New Zealanders would be in control of their own resources, extra jobs and exports,” he said.

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