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The Maori Fisheries Settlement Trust Te Ohu Kaimoana has proposed a new business model which will allow it to continue to provide advice and help iwi advance their interests in fisheries and aquaculture.
The trust will also continue to act as a collective voice for iwi and their fisheries entities on marine management.
Te Ohu Kaimoana is required to restructure because of a vote taken by iwi last year after a statutory review recommended it be wound up and its assets distributed to iwi.
Iwi decided they wanted the trust to continue in some form, but stripped of the share of income it received from Aotearoa Fisheries.
Directors will be voted in by mandated iwi organisations at the annual meeting, rather than being picked by a separate electoral college.
The estimated $3.6 million annual running cost will be paid for out of income from its $74 million investment fund and by charging iwi, the crown and other agencies for services.
There's a consultation hui on the proposals today in Wellington, tomorrow in Christchurch and on Thursday at the Auckland Airport Novotel Hotel.
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