March 06, 2015
Radical rewrite of fisheries settlement proposed
A report on the Maori fisheries settlement has recommended the hard-fought compromise that allowed allocation of more than $500 million of settlement assets be scrapped, and any remaining assets held for all Maori be distributed to iwi.
The $600,000 report by Wellington barrister Tim Castle was the result of a provision in the 2004 Maori Fisheries Act requiring a 10-year review of governance arrangements, ownership and superstructure.
Mr Castle said the time is right for a major change to the framework.
He recommended the trust overseeing the settlement and Maori interests in fisheries, Te Ohu Kaimoana, be wound up.
The 20 percent of income shares and 100 percent of voting control shares it holds in Aotearoa Fisheries Ltd would be allocated to iwi, along with its other investment assets.
He also recommended that iwi be allowed to sell their treaty fisheries assets to other iwi, if they did not wish to put any energy into the industry.
Copyright © 2015, UMA Broadcasting Ltd: www.waateanews.com