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Whakatohea, Ngatiwai Receive Fisheries Assets


MEDIA RELEASE
30 November 2006

Whakatohea, Ngatiwai Receive Fisheries Assets

Te Ohu Kaimoana, the Maori Fisheries Trust, has completed an excellent year with the approval of Whakatohea Maori Trust Board and the Ngatiwai Trust bringing the number of Mandated Iwi Organisations (MIOs) to 37.

Te Ohu Kaimoana directors approved the two iwi at its final 2006 board meeting in Wellington this week. Whakatohea will receive fisheries assets to a value of $5.9 million while Ngatiwai receives approximately $2.4 million in assets.

Ngatiwai chairman Laly Haddon thanked staff and directors of Te Ohu Kaimoana for providing assistance to the iwi to work through the requirements of the Maori Fisheries Act (MFA).

“We are looking at our options for participating in the fishing industry and how best we are able to do that, but certainly this settlement will provide benefits to Ngatiwai,” Mr Haddon said.

Whakatohea Trust Board chairman Robert Edwards said he was enthusiastic about the iwi’s future. “Completing the legal requirements to receive the fisheries settlement was very important. This is one of the milestones in the economic development of Whakatohea,” he said.

“We will manage and grow these assets. Once we have completed out strategic plan, we’ll certainly be looking at opportunities to invest and start the process of economic development.”

Each iwi will receive their share of the fisheries settlement as outlined in the Maori Fisheries Act. They initially receive ownership of the majority of their deepwater quota, income shares in Aotearoa Fisheries Limited and cash. However, the inshore, harbour, remaining deepwater and freshwater fishstocks would be allocated once agreements have been reached with adjacent iwi. These agreements can be concluded when those adjacent iwi have also been recognised as MIOs.

Te Ohu Kaimoana chief executive Peter Douglas said today that it has been a busy year for the organisation, and staff had done an excellent job in getting 37 iwi through the requirements of the MFA so soon. “Our aim is to have all iwi mandated by the end of next year,” he said.

Ends

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