Maori Fisheries Bill Government Bill As reported from the committee of the whole House This bill was formerly part of the Maori Fisheries Bill as reported from the Fisheries and Other Sea-related Legislation Committee. The committee of the whole House has further amended the bill and has divided it as follows: o This bill, comprising the Preamble, Parts 1 to 6 and Schedules 1 to 8 o Te Ture Whenua Maori Amendment Bill (No 2) Maori Land Amendment Bill (No 2), comprising Part 7 Hon David Benson-Pope Maori Fisheries Bill Government Bill Contents Preamble 1 Title 2 Commencement Part 1 Purposes of Act, key concepts, and key iwi organisations Subpart 1---Purposes, outline, and interpretation 3 Purposes 4 Outline of Act 5 Interpretation 6 Act binds the Crown Subpart 2---Key concepts Classification of deepwater and inshore quota 7 Classification of new quota 8 Basis for classifying stock under section 7 9 Alternative basis for classification of new quota How iwi population and coastlines determined 10 Population of an iwi 11 Registered coastline entitlements Subpart 3---Iwi organisations Mandated iwi organisations 12 Functions and powers of mandated iwi organisations 13 Recognition of mandated iwi organisations 14 Criteria for recognition of mandated iwi organisation 14AA Recognition of iwi governance entity 14A Functions and powers of asset-holding companies 14AB Constitutional documents 14AC Changes to constitutional documents Provisions allowing for reorganisation of specified mandated iwi organisations 14B Interpretation 14C Withdrawal of group from joint mandated iwi organisation 14CA Recognition of mandated iwi organisation of withdrawing group 14D Transfer of assets 14E Voting rights 14F Status of Ngati Hine and Rongomaiwahine 15 Further criteria may be prescribed 16 Benefit to persons who are not members of iwi Recognised iwi organisations 17 Functions and powers of recognised iwi organisations 18 Status of recognised iwi organisations 19 Representative Maori organisations Part 2 Establishment and review of new entities 20AA Outline of this Part Subpart 1---Te Ohu Kai Moana and Te Ohu Kai Moana Trustee Limited Establishment of trust and trustee 20 Te Ohu Kai Moana to be established 21 Purpose of Te Ohu Kai Moana 22 Trustee of Te Ohu Kai Moana Duties and functions of trustee 23 Duties of Te Ohu Kai Moana Trustee Limited 24 Functions of Te Ohu Kai Moana Trustee Limited Trust deed 25 Trust deed of Te Ohu Kai Moana 25A Matters to be included in annual plan 26 Annual report of Te Ohu Kai Moana Trustee Limited 26A Consultation and other reporting obligations 27 Obligation to establish and maintain iwi register 27A Review of revenue requirements 27B Scope of revenue review 27C Allocation and transfer of surplus loan funds Te Ohu Kai Moana Trustee Limited 28 Constitution of Te Ohu Kai Moana Trustee Limited Appointment of directors 29 First directors of Te Ohu Kai Moana Trustee Limited 30 Subsequent appointments 31 Term of office of directors 32 Eligibility for office of director 33 Removal of directors 34 Effect of vacancy in membership of Te Ohu Kai Moana Trustee Limited Iwi register 35 Documentation relating to iwi register 36 Access to iwi register 37 Policy on iwi register Rule-making procedure 38 Procedures for making or amending rules Subpart 2---Te Kawai Taumata 39 Establishment of Te Kawai Taumata 40 Sole function of Te Kawai Taumata 41 Membership of Te Kawai Taumata 42 Alternate members of Te Kawai Taumata 43 Eligibility for membership of Te Kawai Taumata Subpart 3---Aotearoa Fisheries Limited Establishment 44 Establishment of Aotearoa Fisheries Limited Duty of Aotearoa Fisheries Limited 45 Duty of Aotearoa Fisheries Limited Constitution of Aotearoa Fisheries Limited 46 Requirements for constitution Directors 47 Directors of Aotearoa Fisheries Limited 48 Restrictions on appointment of directors 49 Directors of subcompanies Voting shares 50 Voting shares Income shares 51 Income shares 52 Additional income shares 53 Disposal of income shares by mandated iwi organisations 54 Process for disposal of income shares by mandated iwi organisations 55 Disposal of income shares by Te Ohu Kai Moana Trustee Limited 56 Other constraints on disposal of income shares 57 Remedy for breach of sections 53 to 56 58 Exceptions to restrictions on disposal of income shares Transfer of assets 59 Transfer of assets to Aotearoa Fisheries Limited 60 Payment of dividends by Aotearoa Fisheries Limited 61 Circumstances when payments not required Subpart 4---Te Putea Whakatupu Trust and Te Putea Whakatupu Trustee Limited Establishment 62 Interpretation 63 Establishment of Te Putea Whakatupu Trust 64 Trustee of Te Putea Whakatupu Trust 65 Purpose of Te Putea Whakatupu Trust 66 Benefits of Trust 67 Functions of Te Putea Whakatupu Trustee Limited Requirements for trust deed 68 Contents of trust deed of Te Putea Whakatupu Trust 68A Annual plan of Te Putea Whakatupu Trustee Limited 70 Reporting obligations of Te Putea Whakatupu Trustee Limited Requirements for constitution 71 Constitution of Te Putea Whakatupu Trustee Limited Directors 71A Requirements for appointment of directors 72 Eligibility for office of director Payments 74 Payments to Te Putea Whakatupu Trustee Limited Subpart 5---Te Wai Maori Trust and Te Wai Maori Trustee Limited Establishment 75 Interpretation 76 Establishment of Te Wai Maori Trust 77 Trustee of Te Wai Maori Trust 78 Purpose of Te Wai Maori Trust 79 Functions of Te Wai Maori Trustee Limited Requirements for trust deed 80 Contents of trust deed of Te Wai Maori Trust 80A Annual plan of Te Wai Maori Trustee Limited 81 Distributions of trust income 83 Reporting obligations of Te Wai Maori Trustee Limited Requirements for constitution 85 Constitution of Te Wai Maori Trustee Limited Directors 85A Criteria for appointment of directors 86 Eligibility for office of director Payments 87 Payments to Te Wai Maori Trustee Limited Subpart 6---Audits and reviews 88 Interpretation Audit of entities 89 Audits 90 Subsequent audits 91 Person to conduct audit 92 General scope of audits 93 Audit of Te Ohu Kai Moana Trustee Limited 94 Audit of Aotearoa Fisheries Limited 95 Audits of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited Procedure after completion of audit 96 Procedure for auditor and entity audited 97 Procedure for Te Ohu Kai Moana Trustee Limited Requirement for review of entities 98 Review of entities 99 Funding of reviews Committee of representatives 100 Committee of representatives 100A Appointment procedure 100B Functions of committee of representatives 100C Terms of reference 100D Procedure and remuneration of committee of representatives Conduct of review 100E Reviewer 100F Scope of review 100G Further relevant considerations 100H Limits to recommendations that may be made Procedure after completion of review 100I Report on review 100J Consideration of review report by entity under review 100K Consideration of review report Requirement to provide information 100L Information requested by auditor or reviewer Part 3 Allocation and transfer of settlement assets 101AA Outline of this Part Subpart 1---Allocation and transfer of settlement assets Duty 101 Duty to allocate and transfer settlement assets Further circumstances when Te Ohu Kai Moana Trustee Limited must allocate and transfer settlement assets 101A Interpretation 101B Application of sections 101C and 101D 101C Procedure if request made under section 101B(2) 101D Allocation and transfer after request under section 101B(2) Discretionary power 102 Discretion to allocate and transfer 102A Limitations applying if mandated iwi organisation receives settlement quota under section 102 Settlement asset money 103 Transfer of money 104 Allocation of surplus funds Income shares 105 Allocation of income shares Subpart 2---Bases for allocation of settlement quota Inshore quota 106 Allocation of inshore quota Deepwater quota 107 Allocation of deepwater quota Chatham zone 108 Chatham Island allocations Harbour quota 109 Allocation of quota within harbours Allocations in specified Fishery Management Areas 110 Allocation of settlement quota in quota management areas same as Fishery Management Area 4 111 Allocation of settlement quota in quota management areas same as Fishery Management Area 6 112 Allocation of settlement quota in quota management areas same as Fishery Management Area 10 Highly migratory species 112A Allocation of settlement quota for highly migratory species Freshwater quota 113 Allocation of freshwater quota Cash allocations 114 Additional cash in lieu of shortfall in settlement quota 115 Specific cash transfers to certain iwi Subpart 3---Transfer of settlement assets 116 Transfer of allocated settlement quota 117 Offer of annual catch entitlement Subpart 4---Miscellaneous Assets held in trust 118 When settlement assets must be held in trust Status of settlement assets for purposes of Inland Revenue Acts and other enactments 119 Status of settlement assets Part 4 Settlement quota interests, sales and exchanges of settlement quota, related restrictions, and option to purchase 120AA Outline of this Part 120 Interpretation Subpart 1---Registration of settlement quota interests 121 Registration of settlement quota interests 122 General restriction on transfer of settlement quota 123 Quota may be treated as settlement quota 124 Application for registration Subpart 2---Restrictions on, and procedures for, disposal of settlement quota 125 Restrictions on disposal of settlement quota 126 Prerequisites to sale of settlement quota Option to purchase 127 Offer of option to purchase 127A Procedure for selling bundle of assets 127B Procedure to determine right to purchase 127C Basis on which sale must proceed 128 Other constraints on disposal 129 Application of this subpart to Te Ohu Kai Moana Group 130 When sale of settlement quota must be allowed 131 Remedy for breach of requirements under this subpart Subpart 3---Exceptions to application of subpart 2 Quota sold to wholly-owned entities 132 Settlement quota sold to wholly-owned entities Small parcels of settlement quota 132A Rationalisation of small parcels of settlement quota Quota exchange 133 Exception for quota exchanges 134 Procedure and criteria for exchange Breach of restrictions applying to exchanges 135 Remedy for breach of restrictions Subpart 4---Additional rules for quota sales and exchanges 136 Additional rules Part 5 Dispute resolution 137AA Outline of this Part 137 Purpose of this Part Subpart 1---Procedure for resolution of disputes 138 Notification of specified decisions Application of Part 139 Application of this Part to specified decisions 140 Resolution of disputes 141 Reference to Maori Land Court 142 Effect of reference or application etc to Maori Land Court Subpart 2---Other matters relevant to disputed decisions 143 Implementation of decision 144 Powers of Te Ohu Kai Moana Trustee Limited in relation to mandated iwi organisations 145 Other powers not limited 145A Dispute resolution in relation to reorganisation of specified mandated iwi organisations Part 6 Transitional and miscellaneous provisions, repeal, and amendments 146AA Outline of this Part 146 Interpretation Subpart 1---Transitional provisions Powers, savings, and validations 147 Powers of Treaty of Waitangi Fisheries Commission 147A Agreements for sale of annual catch entitlements 147B Certain exemptions saved 148 Validation of certain decisions, etc Transfer from Treaty of Waitangi Fisheries Commission 149 Treaty of Waitangi Fisheries Commission dissolved and existing undertaking vested 149AA Payment of taxation refunds (if any) 149A Classification of quota shares allocated to Treaty of Waitangi Fisheries Commission Final report 149B Final report of Treaty of Waitangi Fisheries Commission 150 References in instruments 151 Status of contracts and other instruments 152 Status of existing securities 153 Continuation of proceedings 154 Matters not affected by transfer to Te Ohu Kai Moana Trustee Limited 155 Books and documents to remain evidence 156 Registers Subpart 2---Employees and agents 157 Interpretation 158 Liability of employees and agents 159 Transfer of existing employees 160 Terms and conditions of employment of transferred employees 161 Continuity of employment 162 No compensation for technical redundancy Subpart 3---Miscellaneous provisions 163 Application of Inland Revenue Acts and other enactments 164 Protection of names Subpart 4---Repeal and consequential amendments 165 Enactment repealed 166 Amendments to other enactments . . . . . Schedule 1 Quota shares Schedule 2 Harbours and harbour quota Schedule 3 Iwi (listed by groups of iwi) and notional iwi populations Schedule 3A Organisations that are recognised iwi organisations (as at the commencement of this Act) Schedule 4 Representative Maori organisations Schedule 5 Methodology for determination of coastline entitlements Schedule 6 Kaupapa applying to constitutional documents of mandated iwi organisations Schedule 7 Te Kawai Taumata Schedule 8 Consequential amendments Preamble (1) By the Treaty of Waitangi, the Queen of England confirmed and guaranteed to the chiefs, tribes, and individual Maori the full, exclusive, and undisturbed possession of their fisheries for so long as they wished to retain them: (2) Maori claimed in proceedings in the High Court and in various claims to the Waitangi Tribunal that the quota management system introduced by the Fisheries Amendment Act 1986 was unlawful and in breach of the principles of the Treaty of Waitangi, or had no application to Maori fisheries (including commercial fisheries){, and obtained from the High Court and the Court of Appeal, by way of interim relief, a declaration declaring that the Crown ought not to take further steps to bring the fisheries within the quota management system}: New (majority) ----------------------------------------------------------------------- (2A) In legal proceedings, Maori obtained from the High Court and the Court of Appeal, by way of interim relief, a declaration that the Crown ought not to take further steps to bring the fisheries within the quota management system: ----------------------------------------------------------------------- (3) The Maori Fisheries Act 1989 was enacted to make better provision for the recognition of Maori commercial fishing rights secured by the Treaty of Waitangi. The Act provided that the Maori Fisheries Commission was to be provided with 10% of all quota holdings then subject to the quota management system, or the equivalent value in cash as compensation for commercial fishing claims: (4) A Deed of Settlement dated 23 September 1992 was entered into between the Crown and representatives of the New Zealand Maori Council, the National Maori Congress, and iwi: (5) In that Deed of Settlement it was agreed that {the agreements made in it, together with their implementation through legislation and the continuing} [the settlement (which was ultimately for the benefit of all Maori), the implementation in legislation of the agreements made in that Deed, and the continuing] relationship between the Crown and Maori, would constitute a full and final settlement of all Maori claims to commercial fishing rights: (6) The Treaty of Waitangi (Fisheries Claims) Settlement Act 1992, an Act "to give effect to the settlement of claims relating to Maori fishing rights", provided for the implementation of the Deed of Settlement through the following means: (a) reconstitution of the Maori Fisheries Commission as the Treaty of Waitangi Fisheries Commission; and (b) payment by the Crown to the Treaty of Waitangi Fisheries Commission of a sum of $150 million to be used for the development and involvement of Maori in the New Zealand fishing industry, including participation in a joint venture with Brierley Investments Limited to acquire Sealord Products Limited, a major fishing company; and (c) provision for the allocation to the Treaty of Waitangi Fisheries Commission of 20% of quota for any new quota management stocks brought within the quota management system; and New (majority) ----------------------------------------------------------------------- (ca) provision for the making of regulations to recognise and provide for customary food gathering by Maori; and ----------------------------------------------------------------------- (d) empowerment of the Treaty of Waitangi Fisheries Commission to allocate the assets held by the [[Maori Fisheries]] Commission at the settlement date specified in the Deed [of Settlement], after considering how best to give effect to the resolutions adopted by the Annual General Meeting of the [[Maori Fisheries]] Commission on 25 July 1992 and reporting to the Minister of Fisheries for approval of that scheme of allocation; and Struck out (majority) ======================================================================= (e) empowerment of the Treaty of Waitangi Fisheries Commission, after full consultation with Maori, to develop and report to the Minister on proposals for a new Maori Fisheries Act, consistent with the Deed, that would provide a scheme for identifying the beneficiaries and their interests under the Deed and a procedure to allocate the Commission's assets, other than those referred to in Schedule 1A of the Treaty of Waitangi (Fisheries Claims) Settlement Act 1992: ======================================================================= New (majority) ----------------------------------------------------------------------- (e) empowerment of the Treaty of Waitangi Fisheries Commission, after full consultation with Maori, to develop and report to the Minister on proposals for a new Maori Fisheries Act, that would provide--- (i) a scheme for identifying the beneficiaries and their interests under the Deed of Settlement; and (ii) a procedure to allocate the assets of the Treaty of Waitangi Fisheries Commission (other than those held prior to the signing of that Deed): ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- (6A) The Crown, through the provisions of the Fisheries Act 1996, allocates to the Treaty of Waitangi Fisheries Commission 20% of quota for any new quota management stocks brought within the quota management system: ----------------------------------------------------------------------- (7) The Treaty of Waitangi Fisheries Commission, having considered its duties under the Maori Fisheries Act 1989 and the Deed of Settlement, has examined alternative methods for allocating its assets, produced discussion material, and consulted with iwi and Maori [on the allocation of the assets referred to in Schedule 1A of the Maori Fisheries Act 1989:] {It has developed and reported to the Minister of Fisheries on a scheme for the allocation of the assets it held on the settlement date specified in the Deed of Settlement, published in He Kawai Amokura, A model for allocation of the Fisheries Settlement Assets: Report to the Minister of Fisheries (May 2003):} New (majority) ----------------------------------------------------------------------- (7A) In 1998 the Treaty of Waitangi Fisheries Commission developed an "optimum model" for allocation. The bases for that model have been challenged in successive court actions and overall have been found to have been consistent with the intent of the Deed of Settlement: (7B) The Judicial Committee of the Privy Council, in Te Waka Hi Ika o Te Arawa v Treaty of Waitangi Fisheries Commission[2002] 2 NZLR 17, held that the obligations of the trust imposed by the Deed of Settlement required the benefits of the settlement to be allocated to iwi, meaning the traditional tribes, for the ultimate benefit of all Maori: (7C) Subsequently, the Treaty of Waitangi Fisheries Commission considered and took into account the findings of the courts as to its duties under the Maori Fisheries Act 1989 and the Deed of Settlement. It examined alternative methods for allocating its assets, produced further consultation material, consulted with iwi and Maori, and after undertaking additional processes to reach agreement on the model, considered that it had secured the maximum possible support for its allocation proposals: (7D) In May 2003, the Treaty of Waitangi Fisheries Commission reported to the Minister of Fisheries on its proposal for the allocation of the assets it held on the settlement date specified in the Deed of Settlement: He Kawai Amokura: A model for allocation of the Fisheries Settlement Assets: Report to the Minister of Fisheries: ----------------------------------------------------------------------- (8) The Minister of Fisheries{, having} assessed the proposal of the Treaty of Waitangi Fisheries Commission[,] in accordance with the requirements of the Maori Fisheries Act 1989 and the Deed of Settlement, [and] considered the proposal to be consistent with those requirements {and} [. He therefore] agreed to incorporate the proposal in legislation[:]{. The enactment of this legislation will complete the implementation of the agreements in the Deed of Settlement between the Crown and Maori in respect of Maori claims to commercial fisheries, as outlined in the Preamble to the Deed of Settlement and in the Preamble of the Treaty of Waitangi (Fisheries Claims) Settlement Act 1992.} New (majority) ----------------------------------------------------------------------- (8A) The enactment of this legislation will complete implementation of the agreements in the Deed of Settlement between the Crown and Maori in respect of Maori claims to commercial fisheries, as outlined in the Preamble to that Deed and in the Preamble of the Treaty of Waitangi (Fisheries Claims) Settlement Act 1992. ----------------------------------------------------------------------- The Parliament of New Zealand therefore enacts as follows: 1 Title This Act is the Maori Fisheries Act 2004. Struck out (majority) ======================================================================= Part 1 Preliminary provisions, key concepts, and key iwi organisations Subpart 1---Preliminary provisions ======================================================================= 2 Commencement This Act comes into force on the day after the date on which it receives the Royal assent. New (majority) ----------------------------------------------------------------------- Part 1 Purposes of Act, key concepts, and key iwi organisations Subpart 1---Purposes, outline, and interpretation ----------------------------------------------------------------------- 3 Purposes (1) The purposes of this Act {is} [are] to--- (a) implement the agreements made in the Deed of Settlement dated 23 September 1992; and (b) provide for the development of the collective and individual interests of iwi in fisheries, fishing, and fisheries-related activities in a manner that is ultimately for the benefit of all Maori. (2) To achieve the purposes of this Act, provision is made to establish a framework for the allocation and management of settlement assets through--- (a) the allocation and transfer of specified [settlement] assets to {the asset-holding entities of mandated iwi, organisations who represent} iwi [as provided for by or under this Act]; and (b) the central management of the remainder of those [settlement] assets. Struck out (majority) ======================================================================= 4 Outline of Act (1) This section is a guide to the general scheme of this Act, but does not affect the interpretation or application of the other provisions of this Act. (2) This Act replaces the Maori Fisheries Act 1989. (3) The Preamble sets out the background to this Act. (4) Following the Title clause, Part 1 contains--- (a) subpart 1, which contains the preliminary provisions, including the commencement and interpretation provisions; and (b) subpart 2, which sets out the key concepts for the allocation of settlement assets, including provisions for the classification of quota, the determination of iwi population, and the determination of iwi coastline entitlements; and (c) subpart 3, which relates to the nature and rule of iwi organisations involved with the allocation of settlement assets. (5) Part 2 provides, in 6 subparts, for the establishment and review of the following new entities: (a) Te Ohu Kai Moana and Te Ohu Kai Moana Trustee Limited; and (b) Te Kawai Taumata; and (c) Aotearoa Fisheries Limited; and (d) Te Putea Whakatupu Trust and Te Putea Whakatupu Trustee Limited; and (e) Te Wai Maori Trust and Te Wai Maori Trustee Limited. (6) The provisions of Part 3 govern the allocation of settlement assets and set out the basis for allocation of inshore quota, deepwater quota, Chatham Island allocations, harbour quota, settlement quota within specified fisheries management areas, and freshwater quota, as well as specified cash allocations together with provisions relating to the transfer of settlement assets and the sale of annual catch entitlements. (7) Part 4 provides for the registration under the Fisheries Act 1996 of a settlement quota interest against quota shares owned by mandated iwi organisations. It sets out the basis on which settlement quota may be disposed of, and provides for exceptions to the general constraint on disposal, including provisions for the exchange of settlement quota. (8) Part 5 provides for a process for the resolution of disputes over specified decisions, including--- (a) a requirement that those decisions be notified to the parties involved; and (b) the application of an extended jurisdiction for the Maori Land Court. (9) Part 6 sets out transitional provisions relating to--- (a) the transfer of the existing undertaking of the Treaty of Waitangi Fisheries Commission to Te Ohu Kai Moana Trustee Limited; and (b) the position of employees and agents in the transfer; and (c) the application of the Inland Revenue Acts and other enactments and the protection of specified names; and (d) the repeal of the Maori Fisheries Act 1989, and consequential amendments. (10) Part 7 contains amendments to Te Ture Whenua Maori Act 1993 to provide for the extended jurisdiction of the Maori Land Court, as required to implement the dispute resolution process set out in Part 5. (11) The schedules set out--- (a) the quota shares provided under the Maori Fisheries Act 1989 (the interim settlement) and those allocated under section 44 of the Fisheries Act 1996; and (b) the harbours that are relevant and harbour quota for allocation in relation to those harbours; and (c) iwi listed by groups and the notional population of each iwi; and (d) the representative Maori organisations; and (e) a method for determining coastline entitlements; and (f) the kaupapa that apply to the constitutional documents of mandated iwi organisations; and (g) procedures for Te Kawai Taumata, including provisions for the appointment of members and alternate members; and (h) consequential amendments. ======================================================================= New (majority) ----------------------------------------------------------------------- 4 Outline of Act (1) This section and sections 20AA, 101AA, 120AA, 137AA, and 146AA are a guide to the general scheme of the Parts of this Act, but do not affect the interpretation or application of the other provisions of this Act. (2) This Act replaces the Maori Fisheries Act 1989. (3) The Preamble sets out the background to this Act. (4) Following the Title and commencement clauses, Part 1 contains--- (a) subpart 1, which includes the purpose and interpretation provisions; and (b) subpart 2, which sets out the key concepts for the allocation of settlement assets, namely, provisions for the classification of quota, the determination of iwi population, and the determination of iwi coastline entitlements[[, including interim and supplementary coastlime entitlements]]; and (c) subpart 3, which relates to the nature and role of iwi organisations involved with the allocation of settlement assets[[, including provisions allowing for the reorganisation of joint mandated iwi organistaions]]. (5) The schedules set out--- (a) the quota shares provided to the Treaty of Waitangi Fisheries Commission under section 40 of the Maori Fisheries Act 1989 (the interim settlement) and those since allocated to the Treaty of Waitangi Fisheries Commission under section 44 of the Fisheries Act 1996; and (b) the relevant harbours and harbour quota for allocation in relation to those harbours; and (c) iwi listed by groups and the notional population of each iwi; and (d) organisations that are recognised iwi organisations; and (e) the representative Maori organisations; and (f) the method for determining coastline entitlements; and (g) the kaupapa that apply to the constitutional documents of mandated iwi organisations; and (h) procedures for Te Kawai Taumata, including provisions for the appointment of members and alternate members; and (i) consequential amendments. ----------------------------------------------------------------------- 5 Interpretation In this Act, unless the context otherwise requires,--- adult [member] means a person 18 years of age or over Struck out (majority) ======================================================================= allocate means,--- (a) in respect of settlement assets, the determination of the quantum of assets to be transferred to an iwi, but does not include the transfer of those assets by Te Ohu Kai Moana Trustee Limited; but (b) does not include grants of financial assistance ======================================================================= New (majority) ----------------------------------------------------------------------- allocate,--- (a) in respect of settlement assets, means the determination of the quantum of those assets to be transferred to an iwi; but (b) does not include--- (i) the transfer of those assets by Te Ohu Kai Moana Trustee Limited; or (ii) distributions made under section 67(b) or section 79(b); or (iii) grants of assistance made under section 24(1)(f) ----------------------------------------------------------------------- annual catch entitlement has the meaning given to it in section 2(1) of the Fisheries Act 1996 Aotearoa Fisheries Limited means the company established in accordance with section 44 appointed day means the day specified as the appointed day by the Governor- General by Order in Council made on the recommendation of the Minister at the request of the [Treaty of Waitangi Fisheries] Commission, being a day not later than 45 working days after the commencement of this Act Struck out (majority) ======================================================================= asset-holding entity means an entity established in accordance with section 12(1)(c) ======================================================================= New (majority) ----------------------------------------------------------------------- asset-holding company means a company--- (a) established as required by section 12(1)(d); and (b) that complies with section 14A(1) and (2); and (c) whose constitutional documents comply with the relevant requirements of sections 14AB and 14AC ----------------------------------------------------------------------- Struck out (majority) ======================================================================= assistance policy has the meaning set out in section 62 ======================================================================= beneficiary of [the] Deed of Settlement means iwi and, through iwi, ultimately all Maori Chatham zone has the meaning set out in section 108 Struck out (majority) ======================================================================= Commission means the Treaty of Waitangi Fisheries Commission established under section 4 of the Maori Fisheries Act 1989 ======================================================================= New (majority) ----------------------------------------------------------------------- coastline entitlement means a registered coastline entitlement obtained in accordance with Schedule 5 committee of representatives means a committee established under section 100 with the functions provided for by section 100B ----------------------------------------------------------------------- constitutional documents, in relation to a company, trust, or other entity set up for the purposes of this Act, means the constitution, trust deed, or rules adopted for the governance of the company, trust, or other entity Struck out (majority) ======================================================================= Court has the meaning given to it in section 2(1) of the Fisheries Act 1996 ======================================================================= New (majority) ----------------------------------------------------------------------- Court--- (a) means the District Court or, where proceedings are commenced in the High Court, the High Court; but (b) does not include the Maori Land Court ----------------------------------------------------------------------- Deed of Settlement means the Deed of Settlement dated 23 September 1992 signed by the Crown and Maori and referred to in the Treaty of Waitangi (Fisheries Claims) Settlement Act 1992 deepwater quota means--- (a) the settlement quota {defined} [identified] in Schedule 1 as DW; and (b) the quota of any new quota management stocks brought into the quota management system under section 18 of the Fisheries Act 1996 that Te Ohu Kai Moana Trustee Limited determines to be deepwater quota under section 7 Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- distribution and distribution policy have the meanings set out in section 62 ----------------------------------------------------------------------- ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- earnings means interest and dividends financial year means the period of 12 consecutive months nominated in a constitutional document as the financial year of the entity concerned ----------------------------------------------------------------------- fisheries has the meaning given to fisheries resources in section 2(1) of the Fisheries Act 1996 Fishery Management Area means a Fishery Management Area defined in Parts I and II of the First Schedule of the Fisheries Act 1996 New (majority) ----------------------------------------------------------------------- fishing has the meaning given to it in section 2(1) of the Fisheries Act 1996 fishing permit has the meaning given to it in section 2(1) of the Fisheries Act 1996 fishing year has the meaning given to it in section 2(1) of the Fisheries Act 1996 ----------------------------------------------------------------------- freshwater means {any body of water above mean high-water mark} [the waters of rivers, streams, lakes, ponds, estuaries, lagoons, wetlands, canals, impoundments, channels, or water courses, whether occurring naturally or artificially made] freshwater fisheries and freshwater fishing have the meaning[s] set out in section 75 freshwater quota means--- (a) the settlement quota identified in Schedule 1 as FW; and (b) the quota of any new quota management stocks brought into the quota management system under section 18 of the Fisheries Act 1996 that Te Ohu Kai Moana Trustee Limited determines to be freshwater quota under section 7 New (majority) ----------------------------------------------------------------------- general meeting means an annual or special meeting that,--- (a) in the case of a meeting convened by Te Ohu Kai Moana Trustee Limited, is open to--- (i) all mandated iwi organisations and the members of the iwi represented by each mandated iwi organisation; and (ii) all representative Maori organisations and their members; and (iii) the members and alternate members of Te Kawai Taumata; and (b) in the case of a meeting convened by a mandated iwi organisation, is open to all members of the iwi; and (c) in each case, complies with the constitutional documents of the organisation convening the meeting ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- general power of sale means a power included in the constitutional documents of Te Ohu Kai Moana Trustee Limited or any entity within Te Ohu Kai Moana Group to provide by special resolution for the sale, in accordance with any specified terms and conditions, of income shares or settlement quota, but without obtaining a specific power of sale by special resolution ----------------------------------------------------------------------- ----------------------------------------------------------------------- harbour quota means--- (a) that part of the settlement quota listed in Schedule 1 that is quantified in [Part 2 of] Schedule 2; and (b) the [number of] quota [shares] of any new quota management stocks brought into the quota management system under section 18 of the Fisheries Act 1996 that Te Ohu Kai Moana Trustee Limited determines to be harbour quota under section 7 He Kawai Amokura means the report to the Minister of Fisheries referred to in paragraph (7[D]) of the Preamble income share means an income share in Aotearoa Fisheries Limited individual transferable quota has the meaning given to it in section 2(1) of the Fisheries Act 1996 Inland Revenue Acts has the meaning given to it in section 3(1) of the Tax Administration Act 1994 inshore quota means--- (a) the settlement quota identified in Schedule 1 as IN; and (b) the quota of any new quota management stocks brought into the quota management system under section 18 of the Fisheries Act 1996 that Te Ohu Kai Moana Trustee Limited determines to be inshore quota under section 7 New (majority) ----------------------------------------------------------------------- interim coastline entitlement means a registered interim coastline entitlement obtained in accordance with Schedule 5 ----------------------------------------------------------------------- investment plan has the meaning set out in section 62 iwi--- (a) means an iwi listed in column 1 {of Part 1} of Schedule 3; and (b) includes all [the] members of that iwi; and (c) as {provided for in} [listed in the] {Part 2 of} [notes to] Schedule 3, in relation to--- (i) the iwi of Hauraki, means {all} [1 or more of] the iwi listed in {paragraph} [note] (2); and (ii) the iwi of Te Arawa, means {all} [1 or more of] the iwi listed in {paragraph} [note] (3) iwi register means the register set up by Te Ohu Kai Moana Trustee Limited in accordance with section 27 New ----------------------------------------------------------------------- ----------------------------------------------------------------------- joint mandated iwi organisation has the meaning set out in section 14B ----------------------------------------------------------------------- ----------------------------------------------------------------------- kaupapa means principle or principles mandated iwi organisation, in relation to an iwi, means an organisation recognised by Te Ohu Kai Moana Trustee Limited under section 13(1) as the representative organisation of that iwi [under this Act,] and a reference to a mandated iwi organisation includes a reference to a recognised iwi organisation to the extent provided {in} [for by] section 17 Maori has the meaning given to it in section 4 of Te Ture Whenua Maori Act 1993 member of an iwi means a person who affiliates to the iwi through descent from a primary ancestor of the iwi, or {one} [a person] granted {such} [that] status in accordance with [kaupapa 6A of] Schedule 6 Minister means the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act National Urban Maori Authority means the trust of that name established by trust deed dated 8 May 2003 Struck out (majority) ======================================================================= Ngapuhi means the iwi referred to in Schedule 3 ======================================================================= New (majority) ----------------------------------------------------------------------- Ngapuhi means the iwi listed under the heading "B Ngapuhi" in Schedule 3 Ngati Hine means the group that is a member of Ngapuhi Ngati Kahungunu means the iwi listed under the heading "G Takitimu" in Schedule 3 ----------------------------------------------------------------------- panui means a notice or other form of written communication population of an iwi has the meaning set out in section 10 New (majority) ----------------------------------------------------------------------- private notice means a notice--- (a) sent by any means that is private to the recipient; and (b) in the case of a notice given by a mandated iwi organisation, complies with kaupapa 3A of Schedule 6 public notice means a notice that--- (a) is published in a newspaper generally circulating in the relevant area or areas; and (b) may also be published by panui or electronic media, including radio or television; and (c) in the case of a notice given by a mandated iwi organisation, complies with kaupapa 3A of Schedule 6 quota has the meaning given to it in section 2(1) of the Fisheries Act 1996 ----------------------------------------------------------------------- quota management area has the meaning given to it in section 2(1) of the Fisheries Act 1996 quota management stock has the meaning given to it in section 2(1) of the Fisheries Act 1996 quota management system has the meaning given to it in section 2(1) of the Fisheries Act 1996 quota share has the meaning given to it in section 42 of the Fisheries Act 1996 recognised iwi organisation means an organisation recognised by Te Ohu Kai Moana Trustee Limited under section 17 as the recognised iwi organisation for an iwi[, and includes organisations listed in Schedule 3A] register of iwi members means the register required by kaupapa 6 {in} [of] Schedule 6 registered coastline entitlement means the proportion and equivalent number of {shares of settlement} quota [shares] for a particular stock that--- (a) is determined by Te Ohu Kai Moana Trustee Limited under section 11; and Struck out (majority) ======================================================================= (b) represents the allocation, to a named iwi, of a share of that part of the settlement quota for the stock that is to be determined by coastline length; and (c) is recorded in the iwi register required by section 27 ======================================================================= New (majority) ----------------------------------------------------------------------- (b) is recorded in the iwi register by Te Ohu Kai Moana Trustee Limited under section 11(2)(b); and (c) represents the allocation, to a named iwi, of settlement quota for the stock, determined by coastline length under subpart 2 of Part 3 ----------------------------------------------------------------------- representative Maori organisation means an organisation specified in Schedule 4 New (majority) ----------------------------------------------------------------------- Rongomaiwahine means the group that is a member of Ngati Kahungunu ----------------------------------------------------------------------- Struck out (majority) ======================================================================= settlement means the settlement of Maori fisheries claims made by the Deed of Settlement ======================================================================= settlement assets means the assets transferred to Te Ohu Kai Moana Trustee Limited under section 149(1)(c) (including Aotearoa Fisheries Limited and all its assets), {together with} [and] any [further] quota shares allocated to Te Ohu Kai Moana Trustee Limited under section 44 of the Fisheries Act 1996 settlement quota means quota shares that have a settlement quota interest registered against them settlement quota interest has the meaning given to it in section 2(1) of the Fisheries Act 1996 special resolution, in respect of Te Ohu Kai Moana Trustee Limited, means a resolution approved by 75% or more of the directors entitled to vote on the motion New ----------------------------------------------------------------------- ----------------------------------------------------------------------- specific power of sale means a power included in the constitutional documents of Te Ohu Kai Moana Trustee Limited or any entity within Te Ohu Kai Moana Group to provide by special resolution for the sale, in accordance with any specified terms and conditions, of specified income shares or settlement quota ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- statutory declaration means a declaration made before a person authorised under the Oaths and Declarations Act 1957 to take a declaration ----------------------------------------------------------------------- stock means quota management stock subcompany--- (a) means a company, trust, or entity (whether or not it is a subsidiary of Aotearoa Fisheries Limited) over which Aotearoa Fisheries Limited{, directly or indirectly},--- (i) controls[, directly or indirectly,] 50% or more of the votes; or (ii) [appoints, or] has the right to appoint {at least half} [50% or more] of the directors, trustees, or office holders, as the case may be; and (b) includes--- (i) a company that is a subsidiary of a subcompany; and (ii) a company, trust, or entity over which the subcompany has effective control[, as provided for in paragraph (a)] subsidiary has the meaning given to it in section 5 of the Companies Act 1993 Te Kawai Taumata means the {body} [members of the group (or their alternate members)] established in accordance with section 39 Te Ohu Kai Moana means the trust established in accordance with section 20 New (majority) ----------------------------------------------------------------------- Te Ohu Kai Moana Group means Te Ohu Kai Moana Trustee Limited and every subsidiary, trust, or other entity over which it has effective control, including Aotearoa Fisheries Limited and its subcompanies, because in relation to that subsidiary, trust, or other entity, Te Ohu Kai Moana Trustee Limited--- (a) controls, directly or indirectly, 50% or more of the votes; or (b) appoints 50% or more of the directors, trustees, or office holders, as the case may be ----------------------------------------------------------------------- Te Ohu Kai Moana Trustee Limited means the company established in accordance with section 22 Te Putea Whakatupu Trust means the trust established in accordance with section 63 Te Putea Whakatupu Trustee Limited means the company established in accordance with section 64 Te Wai Maori Trust means the trust established in accordance with section 76 Te Wai Maori Trustee Limited means the company established in accordance with section 77 tikanga Maori has the meaning given to it in section 4 of Te Ture Whenua Maori Act 1993 total allowable commercial catch has the meaning given to it in section 2(1) of the Fisheries Act 1996 New (majority) ----------------------------------------------------------------------- Treaty of Waitangi Fisheries Commission means the Commission established under section 4 of the Maori Fisheries Act 1989 ----------------------------------------------------------------------- voting share means a voting share in Aotearoa Fisheries Limited wananga has the meaning given to it in section 159 of the Education Act 1989. 6 Act binds the Crown This Act binds the Crown. Subpart 2---Key concepts Classification of deepwater and inshore quota 7 Classification of new quota (1) If the responsible Minister declares under section 18 of the Fisheries Act 1996 that a stock is subject to the quota management system, Te Ohu Kai Moana Trustee Limited must, within 6 months of the notification of that declaration,--- (a) determine the appropriate classification for the stock in accordance with sections 8 and 9; and (b) [in accordance with section 8,] determine, [for every harbour specified in Schedule 2 that is within the relevant quota management area,] either--- (i) the [quantity of] harbour quota for {a} [the] stock {subject to a declaration referred to in subsection (1) in a harbour specified in Schedule 2 that is within the relevant quota management area}; or (ii) that there is no harbour quota for {a} [the] stock {for a harbour specified in Schedule 2}; and Struck out (majority) ======================================================================= (c) publish the classifications in the Gazette. ======================================================================= New (majority) ----------------------------------------------------------------------- (c) publish in the Gazette--- (i) the classification of the stock; and (ii) whether harbour quota applies to that stock; and (iii) the quantity, if any, of each harbour quota for the stock. ----------------------------------------------------------------------- (2) A Gazette notice under this section applies as if {Schedules 1 and 2} [Part 2 of Schedule 1 and Part 2 of Schedule 2] were amended in accordance with determinations made under this section and sections 8 and 9. 8 Basis for classifying stock under section 7 (1) For the purpose of classifying stock under section 7, a stock for which Te Ohu Kai Moana Trustee Limited determines, on the basis of scientific or anecdotal evidence, that the commercial catch {{for the previous 5 fishing years}} [[during the 5 fishing years prior to the declaration referred to in section 7(1)]] was entirely {caught} [taken]--- (a) at depths greater than 400 m [from the surface], must be classified as deepwater: (b) at depths less than 200 m [from the surface], must be classified as inshore; and (c) in freshwater, must be classified as freshwater. New (majority) ----------------------------------------------------------------------- (2) For each stock, if any commercial catch was taken {{in the previous 5 fishing years}} [[during the 5 fishing years prior to the declaration referred to in section7(1)]] in any of the harbours listed in Schedule 2, Te Ohu Kai Moana Trustee Limited must determine a harbour quota. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- (3) In relation to each harbour listed in Schedule 2, the proportion of the available settlement quota that is to be classified as harbour quota for each stock must be the proportion of the total commercial catch of that stock taken in that harbour in the fishing year with the highest commercial catch in that harbour during the 5 fishing years prior to the declaration referred to in section 7(1). ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- (4) Harbour quota is calculated under subsection (3) in accordance with the following formula: a Harbour quota for the listed harbour = - x c b where--- a is the highest commercial catch of a stock in a listed harbour in a fishing year during the 5 fishing years prior to the declaration referred to in section 7(1) b is the total commercial catch of that stock in that year c is the available settlement quota. ----------------------------------------------------------------------- 9 Alternative basis for classification of new quota (1) This section applies when Te Ohu Kai Moana Trustee Limited is unable to classify a stock under section 8. (2) Te Ohu Kai Moana Trustee Limited must consider the {commercial catch histories} [evidence from the previous 5 fishing years referred to in section 8(1)] for the stock {from the previous 5 fishing years}, and classify the stock as--- (a) deepwater, if at least 75% of the commercial catch {is} [was] taken in depths greater than 300 m [from the surface]; or (b) inshore, if at least 75% of the commercial catch {is} [was] taken in depths of 300 m or less [from the surface]; or (c) freshwater, if at least 90% of the commercial catch {is taken above the mean high-water mark} [was taken in freshwater]. (3) If the classification cannot be determined under subsection (2), Te Ohu Kai Moana Trustee Limited must determine a classification, after taking into account--- (a) the fishing gear used to take the stock; and (b) the location where the stock {is} [was] taken; and (c) any other information that Te Ohu Kai Moana Trustee Limited considers to be relevant. How iwi population and coastlines determined 10 Population of an iwi Struck out (majority) ======================================================================= (1) In this Act, the population of an iwi is the notional iwi population as stated in column 2 of Part 1 of Schedule 3. (2) For the purposes of this Act, the notional iwi population, as stated in column 2 of Part 1 of Schedule 3,--- (a) binds all iwi; and (b) applies irrespective of any multiple iwi affiliations or other census or other data; but (c) does not--- (i) bind the iwi to which it relates or any other iwi in any matter that is before the Waitangi Tribunal, the Maori Land Court, or any other court, other than under this Act; or (ii) bind, compromise, advantage or disadvantage, or operate as a precedent for any other matter between iwi; or (iii) affect any customary rights, aboriginal title rights, or any rights arising under the Treaty of Waitangi in relation to any other matter. ======================================================================= New (majority) ----------------------------------------------------------------------- (1) In this Act,--- (a) the population of an iwi is the notional iwi population as stated in column 2 of Schedule 3; and (b) the notional iwi population--- (i) binds all iwi; and (ii) applies irrespective of any multiple iwi affiliations or other census or other data. (2) However, that notional iwi population does not--- (a) bind the iwi to which it relates or any other iwi in any matter that is before the Waitangi Tribunal, the Maori Land Court, or any other court, other than under this Act; or (b) bind, compromise, advantage or disadvantage, or operate as a precedent for any other matter; or (c) affect any customary rights, aboriginal title rights, or any rights arising under the Treaty of Waitangi in relation to any other matter. ----------------------------------------------------------------------- (3) Column 3 {of Part 1} of Schedule 3 sets out the percentage that the notional population of each iwi bears to the total notional iwi population. 11 Registered coastline entitlements (1) A mandated iwi organisation, in order to obtain allocations of settlement quota [based on coastlines] under this Act, must make {a} coastline claim[s] for {a} coastline entitlement[s] [for its iwi (including any interim and supplementary coastline entitlements)] in accordance with Part 1 of Schedule 5. (2) Coastline entitlements must be--- (a) determined by Te Ohu Kai Moana Trustee Limited in accordance with Schedule 5; and (b) {registered} [recorded] by Te Ohu Kai Moana Trustee Limited on the iwi register. Struck out (majority) ======================================================================= (3) If offshore islands are part of the coastline under clause 12(g) of Schedule 5, Te Ohu Kai Moana Trustee Limited must record that decision on the iwi register in respect of every iwi having coastline within the affected quota management areas. (4) Registered coastline entitlements are created under this Act--- (a) for the sole purpose of calculating the amount of settlement quota to be allocated to iwi under subpart 2 of Part 3; but (b) do not--- (i) bind the iwi to which it relates or any other iwi in any matter that is before the Waitangi Tribunal, the Maori Land Court, or any other court, other than under this Act; or (ii) bind, compromise, advantage or disadvantage, or operate as a precedent for any other matter between iwi; or (iii) affect any customary rights, aboriginal title rights, or any rights arising under the Treaty of Waitangi in relation to any other matter. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) Registered coastline entitlements are created under this Act for the sole purpose of calculating the amount of settlement quota to be allocated to iwi under subpart 2 of Part 3. (4) However, those registered coastline entitlements do not--- (a) bind the iwi to which they relate or any other iwi in any matter that is before the Waitangi Tribunal, the Maori Land Court, or any other court, other than under this Act; or (b) bind, compromise, advantage or disadvantage, or operate as a precedent for any other matter; or (c) affect any customary rights, aboriginal title rights, or any rights arising under the Treaty of Waitangi in relation to any other matter. ----------------------------------------------------------------------- Subpart 3---Iwi organisations Mandated iwi organisations 12 Functions and powers of mandated iwi organisations Struck out (majority) ======================================================================= (1) A mandated iwi organisation must--- (a) act for the benefit of all members of the iwi, irrespective of where those members reside, for the purposes of this Act; and (b) represent its iwi at any meeting convened to appoint a member of Te Kawai Taumata; and (c) establish 1 or more asset-holding entities that are--- (i) either a trust or a company; and (ii) separate from, but responsible to, the mandated iwi organisation; and (d) perform the functions and duties conferred on it by this Act. ======================================================================= New (majority) ----------------------------------------------------------------------- (1) Under this Act, a mandated iwi organisation must--- (a) act for the benefit of all the members of the iwi, irrespective of where those members reside; and (b) perform the functions and duties conferred on it by or under this Act; and (c) [[except as restricted by section 14E(2)]] represent its iwi [[by voting]] at any meeting convened under--- (i) clause 1 or clause 6 of Schedule 7 to appoint or remove a member or alternate member of Te Kawai Taumata: (ii) clause 1 of Schedule 7 to appoint a member of a committee of representatives; and (d) ensure that it has 1 or more asset-holding companies that, in each case,--- (i) {{is separate from, but responsible to,}} [[is wholly owned by]] the mandated iwi organisation; and (ii) performs the functions and complies with the requirements set out in sections 14A to 14AC. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (2) An asset-holding entity referred to in subsection (1)(c) must--- (a) be and remain wholly owned by the mandated iwi organisation that establishes the entity; and (b) receive and hold all settlement quota and income shares allocated to the iwi or otherwise acquired under this Act; and (c) provide any financial return on the use of the settlement assets referred to in paragraph (b) to the mandated iwi organisation that established the entity. ======================================================================= (3) A mandated iwi organisation may--- (a) directly receive and hold, on behalf of its iwi, settlement assets allocated and grants made to that iwi by Te Ohu Kai Moana Trustee Limited, other than assets referred to in {subsection (2)} [section 14A(1)(c)]: (b) receive {grants of assistance} [distributions] from Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited [[as provided for under subparts 4 and 5 of Part 2]]: (c) if relevant, enter into agreements with other mandated iwi organisations in relation to--- (i) coastline claims under section 11: (ii) the allocation of--- (A) harbour quota under section 109: (B) freshwater quota under section 113: (d) establish companies to undertake fishing and fisheries-related activities, including, but not limited to, any activity related to the seafood industry: (e) perform other functions {contemplated by} [provided for by or under] this Act. Struck out ======================================================================= ======================================================================= 13 Recognition of mandated iwi organisations (1) If Te Ohu Kai Moana Trustee Limited is satisfied that the criteria for recognition specified in section 14 are met, it must, by special resolution,--- (a) recognise 1 mandated iwi organisation for each iwi; and (b) record its recognition of that mandated iwi organisation in the iwi register. Struck out (majority) ======================================================================= (2) Another iwi governance authority created by or under any other enactment is not a mandated iwi organisation solely by reason of the status given by that enactment, but may be recognised as a mandated iwi organisation in accordance with this Act. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) For the purposes of Part 3, only 1 mandated iwi organisation may be recognised for--- (a) the iwi of Hauraki listed in note (2) to Schedule 3; and (b) the iwi of Te Arawa listed in note (3) to Schedule 3; and (c) Ngapuhi; and (d) Ngati Kahungunu. ----------------------------------------------------------------------- ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 13 Recognition of mandated iwi organisations (1) As soon as is reasonably practicable after Te Ohu Kai Moana Trustee Limited is satisfied that an iwi or a withdrawing group has established an organisation that meets the criteria specified in section 14 or section 14CA(1), as the case may be, or that an iwi has an iwi governance entity that meets the criteria specified in section 14AA, Te Ohu Kai Moana Trustee Limited must, by special resolution,--- (a) recognise 1 mandated iwi organisation for that iwi or withdrawing group, as the case may be; and (b) record its recognition of that mandated iwi organisation in the iwi register. (2) Te Ohu Kai Moana Trustee Limited must not recognise more than 1 mandated iwi organisation for an iwi. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Struck out (majority) ======================================================================= 14 Criteria for recognition of mandated iwi organisation (1) The criteria for recognition and continuing recognition of a mandated iwi organisation under section 13 are as follows: (a) the organisation must be a company, a trust, a body corporate set up under an enactment, or an incorporated society whose constitutional documents comply with and implement the kaupapa set out in Schedule 6; and (b) the directors, trustees, or office holders, as the case may be, must demonstrate that, for the purposes of their responsibilities under this Act, they have the confidence of the majority of the adult members of the iwi who vote at a properly constituted annual general or special general meeting. (2) The constitutional documents of the organisation are of no effect for the purposes of this Act until they are--- (a) approved by Te Ohu Kai Moana Trustee Limited as complying with the requirements of this Act; and (b) ratified by a properly constituted general meeting of the iwi. (3) A proposal to make any change to the constitutional documents of a mandated iwi organisation or an asset-holding entity--- (a) must not be made earlier than 2 years after the date on which the mandated iwi organisation is recognised by Te Ohu Kai Moana Trustee Limited; and (b) may only be promoted if the mandated iwi organisation resolves that the change is for the benefit of all members of the iwi; and (c) must be included in the agenda for, and considered at, an annual general meeting or special general meeting of the mandated iwi organisation. (4) If a decision is made under subsection (3) to change a constitutional document, it must be notified in the next general communication to all members of the iwi. ======================================================================= New (majority) ----------------------------------------------------------------------- 14 Criteria for recognition of mandated iwi organisation (1) The criteria for recognition and continuing recognition of a mandated iwi organisation under section 13(1) are that--- (a) the organisation is a company, trust, body corporate set up under an enactment, or incorporated society; and (b) the constitutional documents of the organisation comply with section 14AB; and (c) the directors, trustees, or office holders, as the case may be, are able to demonstrate that, for the purposes of their responsibilities under this Act, they have been duly elected or appointed in accordance with the constitutional documents of the organisation; and Struck out ======================================================================= ======================================================================= (d) the organisation has satisfied Te Ohu Kai Moana Trustee Limited that--- (i) it has a register of iwi members that complies with kaupapa 6 of Schedule 6; and (ii) the register of iwi members has no fewer than the minimum number specified in column 4 of Schedule 3. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (d) the organisation has a register of iwi members that--- (i) complies with kaupapa 6 of Schedule 6; and (ii) has no fewer than the minimum number of members specified in column 4 of Schedule 3. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= (2) Despite subsection (1), Te Ohu Kai Moana Trustee Limited must, if requested, recognise an iwi governance entity as a mandated iwi organisation if, before the commencement of this Act, that entity--- (a) has been approved as a governance entity of the iwi for the purposes of the settlement of the historical Treaty of Waitangi claims of that iwi, as perfected through the enactment of legislation; and (b) represents an iwi listed in Schedule 3; and (c) complies with subsection (1)(a); and (d) has established 1 or more asset-holding companies as required by section 12(1)(d); and (e) has directors, trustees, or office holders, as the case may be, who are elected in a manner that complies with the kaupapa of Schedule 6; and (f) complies with kaupapa 8 of Schedule 6. ======================================================================= ======================================================================= ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14AA Recognition of iwi governance entity Te Ohu Kai Moana Trustee Limited must, if requested, recognise an iwi governance entity as a mandated iwi organisation under section 13(1) if, before the commencement of this Act, that entity meets the following criteria: (a) it has been approved as a governance entity of the iwi for the purposes of the settlement of the historical Treaty of Waitangi claims of that iwi, as perfected through the enactment of legislation; and (b) it represents an iwi listed in Schedule 3; and (c) it complies with section 14(1)(a); and (d) it has established 1 or more asset-holding companies as required by section 12(1)(d); and (e) it has directors, trustees, or office holders, as the case may be, who are elected in a manner that complies with the kaupapa of Schedule 6; and (f) it has a dispute resolution mechanism that complies with kaupapa 8 of Schedule 6. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 14A Functions and powers of asset-holding companies (1) An asset-holding company required by section 12(1)(d) must--- (a) be and remain wholly owned by the mandated iwi organisation that established the company; and (b) have constitutional documents that comply with section 14AB; and (c) receive and hold, [[on behalf of the mandated iwi organisation that owns the company,]] for so long as they are to be retained, all settlement quota and income shares allocated by Te Ohu Kai Moana Trustee Limited to, or otherwise acquired by, the iwi under this Act; and (d) provide [[dividends solely]] to the mandated iwi organisation owning the asset-holding company {{a full financial return, net of profits retained, on the use of the settlement assets referred to in paragraph (c)}}; and (e) not undertake fishing or hold a fishing permit. (2) However, an asset-holding company--- (a) must not enter into any transaction relating to or affecting the income shares it holds unless the mandated iwi organisation has complied with its obligations under sections 53 to 56; and (b) in its function of receiving and holding settlement quota and income shares, is bound by all the requirements specified for mandated iwi organisations in relation to those matters. (3) An asset-holding company may--- (a) establish 1 or more subsidiaries to be its subsidiary asset-holding companies; and (b) transfer to a subsidiary some or all of the assets received under subsection (1)(c). (4) A subsidiary established under subsection (3)(a) must--- (a) be and remain wholly owned by the asset-holding company that established it; and (b) receive and hold, on behalf of the asset-holding company, settlement quota and income shares transferred to it by the asset-holding company under subsection (3)(b); and (c) provide [[dividends solely]] to the mandated iwi organisation owning the asset-holding company that established the subsidiary {{a full financial return, net of profits retained, on the use of the settlement assets transferred under subsection (3)(b)}}; and (d) comply with subsection (2); and (e) not undertake fishing or hold a fishing permit. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 14AB Constitutional documents (1) Every mandated iwi organisation, asset-holding company, and subsidiary of an asset-holding company must have 1 or more constitutional documents that comply with, and implement, the kaupapa set out in Schedule 6. (2) The constitutional documents referred to in subsection (1) are of no effect under this Act until--- (a) they are approved as complying with the requirements of this Act,--- (i) in the case of a mandated iwi organisation, by Te Ohu Kai Moana Trustee Limited; and (ii) in the case of each asset-holding company and subsidiary of an asset-holding company, by the mandated iwi organisation that owns the asset- holding company; and (b) they are ratified,--- (i) in the case of a mandated iwi organisation, by not less than 75% of the adult members of the iwi who vote--- (A) in person at a general meeting called for the purpose of adopting a constitution; or (B) by postal ballot; and (ii) in the case of each asset-holding company and subsidiary of an asset-holding company, by not less than 75% of the directors, trustees, or office holders of the mandated iwi organisation that owns the asset-holding company. (3) Notice of the meeting referred to in subsection (2)(b)(i)(A) must comply with kaupapa 3A(2) of Schedule 6. (4) As soon as is reasonably practicable after the constitutional documents of an asset-holding company or subsidiary of an asset-holding company have been approved in accordance with subsection (2)(a)(ii) and ratified in accordance with subsection (2)(b)(ii), the mandated iwi organisation that owns the asset- holding company must--- (a) advise Te Ohu Kai Moana Trustee Limited that the constitutional documents have been approved and ratified; and (b) provide documentation to Te Ohu Kai Moana Trustee Limited, supported by a statutory declaration if Te Ohu Kai Moana Trustee Limited so requests, as may be necessary to establish that the constitutional documents of its asset- holding company, and any subsidiary of the asset-holding company, comply with the requirements of subsection (2)(a)(ii) and (b)(ii), and, in the case of amendments to a constitutional document, with the requirements of section 14AC. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (5) This section does not apply to an iwi governance entity recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation because it meets the criteria set out in section 14AA. (6) However, this section does apply to--- (a) an asset-holding company of a mandated iwi organisation referred to in subsection (5); and (b) any subsidiary of that asset-holding company. ----------------------------------------------------------------------- ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 14AC Changes to constitutional documents (1) To the extent that the constitutional documents of a mandated iwi organisation, asset-holding company, or subsidiary of an asset-holding company relate to matters provided for by or under this Act, a proposal to change those documents--- (a) must not be inconsistent with this Act; and (b) unless the change is required as a consequence of a rule made or amended under section 15,--- (i) must not be made earlier than 2 years after the date on which the mandated iwi organisation is recognised by Te Ohu Kai Moana Trustee Limited under section 13; and (ii) may only be promoted if the iwi resolves at a general meeting of the mandated iwi organisation that the change is for the collective benefit of all members of the iwi. (2) Section 14AB(2) and (3) applies, with the necessary modifications, to changes proposed under this section for constitutional documents or required as a consequence of rules made or amended in accordance with section 15. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Provisions allowing for reorganisation of [[specified]] mandated iwi organisations ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- 14B Interpretation In sections 14C to 14E,--- mandated iwi organisation of a group means the first mandated iwi organisation recognised in accordance with section 13(2) for--- (a) the iwi of Hauraki: (b) the iwi of Te Arawa: (c) Ngapuhi: (d) Ngati Kahungunu withdrawing iwi means--- (a) in the case of the iwi of Hauraki or the iwi of Te Arawa, any iwi of the group that withdraws from the mandated iwi organisation of the group, as provided for by the constitutional documents of the mandated iwi organisation of the group in accordance with section 14C; and (b) in the case of Ngapuhi, Ngati Hine if it withdraws as provided for by the constitutional documents of the mandated iwi organisation of Ngapuhi in accordance with section 14C; and (c) in the case of Ngati Kahungunu, Rongomaiwahine if it withdraws as provided for by the constitutional documents of the mandated iwi organisation of Ngati Kahungunu in accordance with section 14C. ----------------------------------------------------------------------- ======================================================================= ======================================================================= Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- 14C Withdrawal from mandated iwi organisation (1) In addition to the matters required for the constitutional documents of a mandated iwi organisation under section 14AB, the constitutional documents of the mandated iwi organisation of a group must provide,--- (a) in the case of the iwi of Hauraki or the iwi of Te Arawa, for any iwi of the group to withdraw, if it chooses, from the mandated iwi organisation of the group; and (b) in the case of Ngapuhi, for Ngati Hine, if it so chooses, to withdraw from the mandated iwi organisation of Ngapuhi; and (c) in the case of Ngati Kahungunu, for Rongomaiwahine, if it so chooses, to withdraw from the mandated iwi organisation of Ngati Kahungunu. (2) The constitutional documents of the mandated iwi organisation of each group must also provide--- (a) the process for a withdrawing iwi to undertake in order to withdraw, including notification to Te Ohu Kai Moana Trustee Limited of its intention to withdraw; and (b) consistently with the provisions of Part 3, the process by which the matters set out in subsection (3) must be determined; and (c) the criteria that must be met by the withdrawing iwi to complete the process of withdrawal, including having a mandated iwi organisation recognised by Te Ohu Kai Moana Trustee Limited, as provided for by section 14F(1). (3) The matters that are required to be stated by subsection 2(b) are--- (a) in the case of the iwi of Hauraki and of Te Arawa, the amount of the notional iwi population specified in column 2 of Schedule 3 for the relevant iwi that must be attributed to the withdrawing iwi; and (b) in the cases of Ngapuhi and Ngati Kahungunu, the amount of the notional iwi population specified in column 2 of Schedule 3 for each iwi that must, in each case, be attributed to the withdrawing iwi, based on the census data of 2001 or 2006, whichever is the later, when the withdrawing iwi exercises the right to withdraw provided for under subsection (1); and (c) the distribution that must be made to a withdrawing iwi, including the proportion of--- (i) the settlement assets of the mandated iwi organisation of the group that the withdrawing iwi is entitled to receive on the date of withdrawal; and (ii) other settlement assets that the mandated iwi organisation of the group is entitled to receive under this Act as follows: (A) the assets distributed as required by sections 25(1)(f)(ii), 68(1)(l), 80(1)(l), and 104(2); and (B) quota shares transferred to Te Ohu Kai Moana Trustee Limited on the introduction of new species to the quota management system, distributed in accordance with subpart 2 of Part 3. (4) A withdrawing iwi must commence the process of withdrawal, in accordance with the process set out under subsection (2)(a), not later than 5 years after the recognition of the mandated iwi organisation of the relevant group under section 13(1). ----------------------------------------------------------------------- ======================================================================= ======================================================================= Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- 14D Limitations on distribution (1) The assets referred to in section 14C(3)(b) must not be transferred to a withdrawing iwi until Te Ohu Kai Moana Trustee Limited--- (a) has recognised a mandated iwi organisation for the withdrawing iwi under section 13; and (b) is satisfied, in determining whether the organisation of the withdrawing iwi has met the criteria for recognition as a mandated iwi organisation, that it has on its register of iwi members no fewer than the minimum number of persons specified in column 4 of Schedule 3, in the proportion that the population specified in section 14C(3)(a) represents of the notional iwi population specified in column 2 of Schedule 3, calculated in accordance with the formula--- a - x c b a is the population specified under section 14C(3)(a) b is the total notional population for the iwi set out in column 2 of Schedule 3 c is the minimum number of members specified in column 4 of Schedule 3. (2) Before Te Ohu Kai Moana Trustee Limited may recognise a mandated iwi organisation for a withdrawing iwi, it must be satisfied that the organisation has an asset-holding company as required by section 12(1)(d). (3) A transfer of assets referred to in subsection (1) must be--- (a) transferred free of charge to the receiving iwi, other than reasonable administrative costs; and (b) treated as if it were a transfer between wholly-owned asset-holding companies of the mandated iwi organisation of the group. ----------------------------------------------------------------------- ======================================================================= ======================================================================= Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- 14E Voting rights (1) The mandated iwi organisation of an iwi that has withdrawn from the mandated iwi organisation of a group--- (a) has all the voting rights of a mandated iwi organisation under this Act; and (b) may exercise those rights as soon as the mandated iwi organisation is recognised by Te Ohu Kai Moana Trustee Limited under section 13. (2) However, a mandated iwi organisation referred to in subsection (1) does not have separate voting rights--- (a) to appoint or remove a member or alternate member of Te Kawai Taumata; or (b) to appoint a member of a committee of representatives. (3) For the purposes of sections 99(2), 100K(3), 103(3)(b), and 104(3)(b),--- (a) the notional iwi population represented by the mandated iwi of the withdrawing iwi is the amount specified under section 14C(3)(a); and (b) the notional iwi population represented by the mandated iwi organisation of the group is the number stated in column 2 of Schedule 3, after subtracting the amount specified under section 14C(3)(a) for the withdrawing iwi. ----------------------------------------------------------------------- ======================================================================= ======================================================================= Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- 14F Status of Ngati Hine and Rongomaiwahine (1) Despite section 13(1), if Ngati Hine or Rongomaiwahine, as the case may be, notifies Te Ohu Kai Moana Trustee Limited of an intention to withdraw in accordance with section 14C, Te Ohu Kai Moana Trustee Limited must, by special resolution, recognise a mandated iwi organisation for the withdrawing iwi, so long as it is satisfied that the criteria specified in section 14 are met by the withdrawing iwi. (2) If Ngati Hine withdraws from the mandated iwi organisation of Ngapuhi in accordance with the constitutional documents of Ngapuhi, Ngati Hine becomes, upon completion of its withdrawal, an iwi for the purposes of this Act as if it were listed in Schedule 3. (3) If Rongomaiwahine withdraws from the mandated iwi organisation of Ngati Kahungunu in accordance with the constitutional documents of Ngati Kahungunu, Rongomaiwahine becomes, upon completion of its withdrawal, an iwi for the purposes of this Act as if it were listed in Schedule 3. (4) However, subsections (2) and (3) do not override section 13(2). ----------------------------------------------------------------------- ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14B Interpretation In this Act,--- joint mandated iwi organisation means the first mandated iwi organisation recognised under section 13(1) for--- (a) the iwi of Hauraki listed in note (2) to Schedule 3: (b) the iwi of Te Arawa listed in note (3) to Schedule 3: (c) Ngapuhi (including Ngati Hine): (d) Ngati Kahungunu (including Rongomaiwahine) withdrawing group means--- (a) in the case of the iwi of Hauraki or the iwi of Te Arawa, any iwi that withdraws from the joint mandated iwi organisation in accordance with the constitutional documents of the joint mandated iwi organisation as provided for under section 14C; and (b) in the case of Ngapuhi, Ngati Hine if it withdraws from Ngapuhi in accordance with the constitutional documents of the joint mandated iwi organisation of Ngapuhi as provided for under section 14C; and (c) in the case of Ngati Kahungunu, Rongomaiwahine if it withdraws from Ngati Kahungunu in accordance with the constitutional documents of the joint mandated iwi organisation of Ngati Kahungunu as provided for under section 14C. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14C Withdrawal of group from joint mandated iwi organisation (1) In addition to the matters required for the constitutional documents of a mandated iwi organisation under section 14AB, the constitutional documents of a joint mandated iwi organisation must provide,--- (a) in the cases of the iwi of Hauraki and the iwi of Te Arawa, for any iwi to withdraw, if it so chooses, from the relevant joint mandated iwi organisation; and (b) in the case of Ngapuhi, for Ngati Hine, if it so chooses, to withdraw from the joint mandated iwi organisation of Ngapuhi; and (c) in the case of Ngati Kahungunu, for Rongomaiwahine, if it so chooses, to withdraw from the joint mandated iwi organisation of Ngati Kahungunu. (2) The constitutional documents of each joint mandated iwi organisation must also provide--- (a) the process that a withdrawing group must undertake in order to withdraw, including giving notice of its intention to withdraw to--- (i) Te Ohu Kai Moana Trustee Limited; and (ii) the relevant joint mandated iwi organisation; and (b) the process for determining, consistently with the provisions of Part 3, the matters set out in subsection (3); and (c) the criteria that must be met by the withdrawing group in order to complete the process of withdrawal, including having a mandated iwi organisation recognised by Te Ohu Kai Moana Trustee Limited in accordance with section 13(1). (3) The matters that must be determined by the process provided for under subsection (2)(b) are--- (a) the amount of the notional iwi population specified in column 2 of Schedule 3 for an iwi that must, in each case, be attributed to any withdrawing group; and (b) the division of settlement assets that must be made between the joint mandated iwi organisation and a withdrawing group, including the proportion that the withdrawing group is entitled to receive of--- (i) the settlement assets of the joint mandated iwi organisation, on the date when the withdrawal is complete; and (ii) other settlement assets that the joint mandated iwi organisation receives--- (A) under sections 25(1)(f)(ii), 27C, 68(1)(l), and 80(1)(l); and (B) as a consequence of the allocation and transfer of settlement assets under subparts 1 and 2 of Part 3, including quota shares in respect of new species introduced into the quota management system and transferred to Te Ohu Kai Moana Trustee Limited under section 44 of the Fisheries Act 1996. (4) In determining the amount of the notional iwi population to be attributed to a withdrawing group under subsection (3)(a) and the proportion of the settlement assets that a withdrawing group must receive under subsection (3)(b), a joint mandated iwi organisation and a withdrawing group may use any relevant information, including the relevant data from the census of 2001 or 2006 (but no other census data). (5) If a withdrawing group chooses to withdraw from its joint mandated iwi organisation, it must commence the process of withdrawal, in accordance with the process provided for under subsection (2)(a), not later than 5 years after the recognition of the relevant joint mandated iwi organisation under section 13(1). ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14CA Recognition of mandated iwi organisation of withdrawing group (1) Despite section 13(2), if a withdrawing group notifies in accordance with section 14C(2)(a) its intention to withdraw from a joint mandated iwi organisation, Te Ohu Kai Moana Trustee Limited must recognise under section 13(1) a mandated iwi organisation for the withdrawing group if the withdrawing group has set up an organisation that meets--- (a) the criteria of section 14 (other than section 14(1)(d)(ii)); and (b) the following further criteria: (i) it has on its register of iwi members no fewer than the minimum number of persons specified in column 4 of Schedule 3, in the proportion that the amount attributed to the withdrawing group under section 14C(3)(a) represents of the notional iwi population specified in column 2 of Schedule 3, calculated in accordance with the formula--- a - x c b where--- a is the amount attributed to the withdrawing group under section 14C(3)(a) b is the total notional population for the iwi set out in column 2 of Schedule 3 c is the minimum number of members specified in column 4 of Schedule 3; and (ii) it has an asset-holding company, as required by section 12(1)(d). (2) Despite subsection (1), if a group has withdrawn from a joint mandated iwi organisation as provided for under section 14C, settlement assets must be distributed under section 25(1)(f)(ii), allocated and transferred under section 27C or Part 3, or payments must be made under section 68(1)(l) or section 80(1)(l), as the case may be, to the relevant joint mandated iwi organisation as if no group had withdrawn from that joint mandated iwi organisation. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14D Transfer of assets (1) A joint mandated iwi organisation must not transfer to a withdrawing group the assets referred to in section 14C(3)(b) until the withdrawing group has completed the process of withdrawal in accordance with the criteria provided for under section 14C(2)(c). (2) A transfer of assets referred to in subsection (1) must be--- (a) free of charge to the withdrawing group, other than reasonable administrative costs; and (b) treated as if it were between wholly-owned asset-holding companies of the joint mandated iwi organisation. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14E Voting rights (1) The mandated iwi organisation of a withdrawing group, after it has completed the process of withdrawal provided for under section 14C(2)(c),--- (a) has all the voting rights of a mandated iwi organisation under this Act; and (b) may exercise those rights from the date when it has completed the process of withdrawal. (2) However, only the joint mandated iwi organisation may exercise voting rights in respect of an appointment or removal at a meeting convened under--- (a) clause 1 or clause 6 of Schedule 7 to appoint or remove a member or alternate member of Te Kawai Taumata; or (b) clause 1 of Schedule 7 to appoint a member of a committee of representatives, as provided for by section 100A(1). (3) For the purposes of sections 99(2), 100K(3), 103(3)(b), and 104(3)(b),--- (a) the notional iwi population represented by the mandated iwi organisation of any withdrawing group is the amount attributed to the withdrawing group under section 14C(3)(a); and (b) the notional iwi population represented by the joint mandated iwi organisation is the number stated in column 2 of Schedule 3, after subtracting the amount attributed, under section 14C(3)(a), to the withdrawing group. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 14F Status of Ngati Hine and Rongomaiwahine (1) If Ngati Hine withdraws from the joint mandated iwi organisation of Ngapuhi in accordance with the constitutional documents of Ngapuhi, Ngati Hine becomes, upon completion of its withdrawal, an iwi for the purposes of this Act as if it were listed in Group B---NGAPUHI of Schedule 3. (2) If Rongomaiwahine withdraws from the joint mandated iwi organisation of Ngati Kahungunu in accordance with the constitutional documents of Ngati Kahungunu, Rongomaiwahine becomes, upon completion of its withdrawal, an iwi for the purposes of this Act as if it were listed in Group G---TAKITIMU of Schedule 3. (3) Subsections (1) and (2) do not override section 14CA(2). ----------------------------------------------------------------------- ----------------------------------------------------------------------- Struck out (majority) ======================================================================= 15 Further criteria may be prescribed For the purpose of recognising and continuing to recognise mandated iwi organisations under section 13, Te Ohu Kai Moana Trustee Limited may make or amend rules in accordance with section 38 in respect of the criteria or requirements that apply to mandated iwi organisations and their constitutional documents, provided the rules are not in conflict with Schedule 6 or the other requirements of this subpart. ======================================================================= New (majority) ----------------------------------------------------------------------- 15 Further criteria may be prescribed For the purpose of recognising and continuing to recognise mandated iwi organisations under section 13, Te Ohu Kai Moana Trustee Limited may make or amend rules in accordance with section 38 in respect of the criteria or requirements that apply to mandated iwi organisations and their constitutional documents. ----------------------------------------------------------------------- 16 Benefit to persons who are not members of iwi (1) The constitutional documents of a mandated iwi organisation may permit the organisation to benefit--- (a) {individuals} [Maori] who are not members of the iwi: (b) the community generally. (2) If the constitutional documents of a mandated iwi organisation make provision as contemplated by subsection (1), that does not disqualify the organisation from being recognised as a mandated iwi organisation or affect the validity of its {constitution} [constitutional documents, to the extent that they relate to matters provided for by or under this Act]. Recognised iwi organisations Struck out (majority) ======================================================================= 17 Recognised iwi organisations (1) This section and section 18 apply if Te Ohu Kai Moana Trustee Limited considers that an iwi without a mandated iwi organisation should have a recognised iwi organisation. (2) Te Ohu Kai Moana Trustee Limited may recognise a company, trust, or any other entity as a recognised iwi organisation for all specified purposes. (3) In relation to a recognised iwi organisation, a specified purpose means--- (a) the functions and powers of a mandated iwi organisation under this Act; and (b) includes the right--- (i) to participate in the process for resolving a dispute referred to in section 139(1)(b) or(c) or (e); and (ii) to represent the iwi in consultation, negotiation, and proceedings relating to a specified purpose; but (c) does not include the right--- (i) to receive settlement quota; or (ii) to receive money under section 114 or section 115; or (iii) to purchase settlement quota; or (iv) to receive or purchase income shares, or to receive distributions relating to income shares; or (v) to enter into binding agreements with other iwi over coastline claims; or (vi) to submit coastline claims to Te Ohu Kai Moana Trustee Limited for determination under section 11; or (vii) to enter into agreements for freshwater quota or harbour quota; or (viii) to nominate an entity with charitable status to receive distributions on--- (A) the termination of Te Ohu Kai Moana, Te Putea Whakatupu Trust, or Te Wai Maori Trust; or (B) the liquidation of Te Ohu Kai Moana Trustee Limited. ======================================================================= New (majority) ----------------------------------------------------------------------- 17 Functions and powers of recognised iwi organisations (1) This section and section 18 apply to the organisations listed in Schedule 3A, each of which is a recognised iwi organisation for the matters listed in subsection (3), but only until there is a mandated iwi organisation for the iwi. (2) In addition to the recognised iwi organisations listed in Schedule 3A, Te Ohu Kai Moana Trustee Limited may recognise other organisations as recognised iwi organisations for the matters listed in subsection (3), so long as there is only 1 recognised iwi organisation for an iwi. (3) A recognised iwi organisation has the functions and powers of a mandated iwi organisation, including the right--- (a) to receive all documents, reports, and notices that must be provided to mandated iwi organisations under Part 2; and (b) to participate in the process for {{the sale of}} [[offering]] annual catch entitlement provided for in section 117; and (c) to participate in the process for resolving a dispute referred to in section 139(1)(b), (c), {{or (f)}} [[(d), (e), (f), (g), (i), or (j)]]; and (d) to represent the iwi in consultation, negotiation, and proceedings relating to a matter listed in this subsection[[; and]] New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (e) to represent its iwi by voting at any meeting convened under clause 1 or clause 6 of Schedule 7 to appoint or remove a member or alternate member of Te Kawai Taumata. ----------------------------------------------------------------------- ----------------------------------------------------------------------- (4) However, a recognised iwi organisation does not have the right--- (a) to receive settlement quota; or (b) to receive money under section 114 or section 115; or (c) to purchase settlement quota; or (d) to receive or purchase income shares, or to receive {{distributions}} [[dividends]] relating to income shares; or (e) to enter into binding agreements with other iwi over coastline claims; or (f) to submit coastline claims to Te Ohu Kai Moana Trustee Limited for determination under section 11; or (g) to enter into agreements for freshwater quota or harbour quota; or (h) to nominate an entity with charitable status to receive distributions on the termination of--- (i) Te Ohu Kai Moana, as provided for under section 25(1)(f)(ii): (ii) Te Putea Whakatupu Trust, as provided for under section 68(1)(l): (iii) Te Wai Maori Trust, as provided for under section 80(1)(l). ----------------------------------------------------------------------- 18 {Duties, functions, and powers of} [Status of] recognised iwi organisation[s] Struck out (majority) ======================================================================= (1) A recognised iwi organisation--- (a) represents its iwi for the specified purposes as if it were a mandated iwi organisation; and (b) has the duties, functions, powers, and rights of a mandated iwi organisation for all specified purposes. ======================================================================= (2) {For all specified purposes,} Te Ohu Kai Moana Trustee Limited, mandated iwi organisations, and recognised iwi organisations must recognise and deal with a recognised iwi organisation as if it were a mandated iwi organisation[[, including]] [for the matters listed in section 17(3)], until there is a mandated iwi organisation for the iwi. (3) Despite the constitutional documents of a recognised iwi organisation, Te Ohu Kai Moana Trustee Limited may, if it considers in the circumstances [that] it is reasonably necessary, require the directors, trustees, or office holders of a recognised iwi organisation to demonstrate that, [in relation to their functions under this Act,] they have the confidence of the majority of the adult members of the iwi who vote at a properly constituted {annual general or special} general meeting to act on their behalf. 19 Representative Maori organisations (1) The organisations specified in Schedule 4 are representative Maori organisations {for the purposes of} [under] this Act. Struck out (majority) ======================================================================= (2) A representative Maori organisation is entitled to participate in the appointment and removal of 1 member of Te Kawai Taumata as provided for in subpart 2 of Part 2. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) A representative Maori organisation is entitled to participate in the procedures--- (a) to appoint or remove a member or alternate member of Te Kawai Taumata as provided for in Schedule 7; and (b) to appoint a member of any committee of representatives established under section 100. ----------------------------------------------------------------------- Part 2 Establishment and review of new entities New (majority) ----------------------------------------------------------------------- 20AA Outline of this Part This Part provides, in 6 subparts, for the establishment, audit, and review of the following new entities: (a) Te Ohu Kai Moana and Te Ohu Kai Moana Trustee Limited; and (b) Te Kawai Taumata; and (c) Aotearoa Fisheries Limited; and (d) Te Putea Whakatupu Trust and Te Putea Whakatupu Trustee Limited; and (e) Te Wai Maori Trust and Te Wai Maori Trustee Limited. ----------------------------------------------------------------------- Subpart 1---Te Ohu Kai Moana and Te Ohu Kai Moana Trustee Limited Establishment of trust and trustee 20 Te Ohu Kai Moana to be established (1) The [Treaty of Waitangi Fisheries] Commission must, before the appointed day, establish by trust deed a trust called Te Ohu Kai Moana. (2) Neither the rule against perpetuities nor any relevant provisions of the Perpetuities Act 1964--- (a) prescribe or restrict the period during which Te Ohu Kai Moana may exist in law; or (b) apply to a document entered into to give effect to the Deed of Settlement (including the trust deed required to be entered into under subsection (1)) if the application of that rule or the provisions of that Act would otherwise make the document, or a right or obligation conferred by that document, invalid or ineffective. 21 Purpose of Te Ohu Kai Moana The purpose of Te Ohu Kai Moana is to advance the interests of iwi individually and collectively, primarily in the development of fisheries, fishing, and fisheries-related activities, in order to--- (a) ultimately benefit the members of iwi and Maori generally; and (b) further the agreements made in the Deed of Settlement; and (c) assist the Crown to discharge its obligations under the Deed of Settlement and the Treaty of Waitangi; and (d) contribute to the achievement of an enduring settlement of the claims and grievances referred to in the Deed of Settlement. 22 Trustee of Te Ohu Kai Moana (1) Te Ohu Kai Moana must have only 1 trustee. (2) The trustee of Te Ohu Kai Moana must be a company formed under the Companies Act 1993 with the name Te Ohu Kai Moana Trustee Limited. Duties and functions of trustee 23 Duties of Te Ohu Kai Moana Trustee Limited {In achieving the purpose of Te Ohu Kai Moana,} Te Ohu Kai Moana Trustee Limited must administer the settlement assets in accordance with [the purposes of] this Act [and the purpose of Te Ohu Kai Moana], including performing the following duties: New (majority) ----------------------------------------------------------------------- (aa) as required by sections 7 and 149A, to determine the appropriate classification of quota shares; and ----------------------------------------------------------------------- (a) as required by section 121, [to] apply to register settlement quota interests against--- (i) the quota shares listed in Schedule 1; and (ii) any quota shares allocated under section 44 of the Fisheries Act 1996; and (b) to allocate and transfer the settlement assets; and (c) to manage on a transitional basis[, collectively or separately as Te Ohu Kai Moana Trustee Limited considers appropriate,] the [settlement] assets to be allocated to an iwi, until they are transferred to the mandated iwi organisation of the iwi; and (d) to determine the coastline entitlements {for mandated iwi organisations} [of iwi] under section 11 and Schedule 5; and (e) to maintain the iwi register required by section 27 [and] to record the matters relating to mandated iwi organisations {as} required by [or under] this Act; and (f) [if Te Ohu Kai Moana Trustee Limited is satisfied that each commercial fisher is wholly owned by 1 or more mandated iwi organisations,] to advise the chief executive of the Ministry of Fisheries as to those commercial fishers who are approved entities for the purposes of section 74{(2)(a)} [(2A)] of the Fisheries Act 1996{, if Te Ohu Kai Moana Trustee Limited is satisfied that each commercial fisher is wholly owned by 1 or more mandated iwi organisations}; and (g) to make extracts of the iwi register available, on request {from} [, to] mandated iwi organisations or members of iwi, in accordance with any policy prepared under section 37; and (h) to assist {mandated} [recognised] iwi organisations to establish a register of iwi members that includes the contact details and date of birth for every {member} [person] included in {the membership} [that] register; and (i) to assist iwi to meet the requirements of {section 14 or section 101(4)} [sections 14, 14AB, and 101(4)]; and New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (iaa) where the lack of a mandated iwi organisation for an iwi prevents the mandated iwi organisation of another iwi from making its coastline claims under clause 3 of Schedule 5, Te Ohu Kai Moana Trustee Limited must give priority to assisting the iwi that does not have a mandated iwi organisation, as provided for in paragraph (i); and ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- (ia) to the extent that they relate to matters provided for by or under this Act, to approve constitutional documents under section 14AB and any changes made under section 14AC or required under section 15; and (ib) to appoint the directors of Aotearoa Fisheries Limited; and ----------------------------------------------------------------------- (j) to establish Te Putea Whakatupu Trust, {and Te Wai Maori Trust and} appoint the directors of Te Putea Whakatupu Trustee Limited, and {Te Wai Maori Trustee Limited} [make the payments required by section 74(1) and (3)]; and New (majority) ----------------------------------------------------------------------- (ja) to establish Te Wai Maori Trust, appoint the directors of Te Wai Maori Trustee Limited, and make the payments required by section 87(1), (3), and (4); and ----------------------------------------------------------------------- (k) to consider and, if satisfied, approve the annual plans of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and Struck out (majority) ======================================================================= (l) to perform the duties of the voting shareholder of Aotearoa Fisheries Limited, including appointing its directors; and ======================================================================= New (majority) ----------------------------------------------------------------------- (l) to prepare the final financial statements of the Treaty of Waitangi Fisheries Commission, as provided for in section 149B; and ----------------------------------------------------------------------- (m) to perform any other duties prescribed by or under this Act or any other enactment. 24 Functions of Te Ohu Kai Moana Trustee Limited (1) As a means to further the purpose of Te Ohu Kai Moana, Te Ohu Kai Moana Trustee Limited may--- (a) foster, promote, commission, or fund research into the [sustainable] management {and conservation} of fisheries: Struck out (majority) ======================================================================= (b) in relation to fisheries, fishing, and fisheries-related activities,--- (i) act to protect and enhance the interests of iwi and Maori in those activities: (ii) approve other activities, so long as that does not significantly change the nature of the business activities, taken as a whole, of Te Ohu Kai Moana Trustee Limited and its subsidiaries from their primary focus on fisheries, fishing, or fisheries-related activities, including, but not limited to, activities related to the seafood industry: (iii) give prior approvals to specific companies to conduct other activities in accordance with subparagraph (ii), up to thresholds specified by Te Ohu Kai Moana Trustee Limited: ======================================================================= New (majority) ----------------------------------------------------------------------- (b) in relation to fisheries, fishing, and fisheries-related activities, act to protect and enhance the interests of iwi and Maori in those activities: (ba) in relation to other activities, so long as the nature of the business activities of Te Ohu Kai Moana Group, taken as a whole, are not significantly changed from their primary focus on fisheries, fishing, or fisheries-related activities,--- (i) approve other activities, including, but not limited to, activities related to the seafood industry: (ii) give prior approvals to specified entities of Te Ohu Kai Moana Group to conduct other activities up to thresholds specified by Te Ohu Kai Moana Trustee Limited: ----------------------------------------------------------------------- (c) require mandated iwi organisations to demonstrate their progress in meeting the criteria [and requirements] set out in section 14[, 14AB,] or section 101(4)(b), as the case may be, before granting assistance under section 23{(1)}(h) or (i): (d) [in accordance with the provisions of Part 4,] acquire or dispose of income shares, [settlement quota,] and quota [other than settlement quota,] and sell annual catch entitlement [generated by settlement quota or by quota other than settlement quota]: New (majority) ----------------------------------------------------------------------- (da) perform the functions of the voting shareholder of Aotearoa Fisheries Limited: ----------------------------------------------------------------------- (e) apply the funds of the trust by way of {distributions} [payments] to--- (i) mandated iwi organisations: (ii) Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited [as specified in sections 74(5) and 87(6) respectively]: (f) {make grants of} [grant] assistance, as permitted [by or] under this Act, to--- (i) mandated iwi organisations: (ii) individual Maori and groups of Maori: (g) maintain reserve funds to the extent that it considers prudent: New (majority) ----------------------------------------------------------------------- (h) perform any other functions permitted by or under this Act or any other enactment. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (2) This section and section 23 do not limit the activities that Te Ohu Kai Moana Trustee Limited may undertake to further the purpose of Te Ohu Kai Moana. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) Te Ohu Kai Moana Trustee Limited must not undertake fishing or hold a fishing permit. (3) This section and section 23 do not limit the activities [[(other than fishing or holding a fishing permit)]] that Te Ohu Kai Moana Trustee Limited may undertake to further the purpose of Te Ohu Kai Moana. ----------------------------------------------------------------------- Trust deed 25 Trust deed of Te Ohu Kai Moana (1) The trust deed of Te Ohu Kai Moana must--- (a) specify the purpose of Te Ohu Kai Moana as stated in section 21; and (b) require Te Ohu Kai Moana Trustee Limited to develop--- (i) {a draft} [an] annual plan; and (ii) a 5-year strategic plan that is updated annually; and (c) require Te Ohu Kai Moana Trustee Limited to circulate [drafts of] the plans referred to in paragraph (b) for comment, prior to their adoption by {the trustee} [Te Ohu Kai Moana Trustee Limited], to--- (i) mandated iwi organisations; and Struck out (majority) ======================================================================= (ii) recognised iwi organisations; and ======================================================================= (iii) representative Maori organisations; and (d) provide for the manner in which the trust deed may be varied and any restrictions on its variation; and Struck out (majority) ======================================================================= (e) require Te Ohu Kai Moana Trustee Limited to include in its annual plan the matters referred to in section 117(4)(a) for the year to which the plan applies, unless these matters have been included in a panui; and ======================================================================= New (majority) ----------------------------------------------------------------------- (e) provide for fees or remuneration for attendance at meetings, as the case may be, and reimbursing allowances or actual and reasonable expenses to be paid, in accordance with the provisions included in the annual plan of Te Ohu Kai Moana Trustee Limited under section 25A(d) to (g), to--- (i) the directors of Te Ohu Kai Moana Trustee Limited; and (ii) the directors of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and (iii) the members and alternate members of Te Kawai Taumata; and (iv) the members of a committee of representatives; and ----------------------------------------------------------------------- (f) provide for--- (i) the termination of {{the trust}} [[Te Ohu Kai Moana]]; and (ii) on termination of that Trust, the distribution of the assets of the Trust, including capital and accumulated income, in the percentages specified in column 3 {of Part 1} of Schedule 3,--- (A) to each mandated iwi organisation that has charitable status; or (B) in the case of a mandated iwi organisation that does not have charitable status, to an entity with charitable status nominated by the mandated iwi organisation to benefit the relevant iwi and its members; or (C) if no mandated iwi organisation exists or no nomination is made under subsubparagraph (B), to an entity with charitable status nominated by Te Ohu Kai Moana Trustee Limited to benefit the relevant iwi and its members. (2) The trust deed may--- (a) include any other matter that is not inconsistent with this Act; and (b) be amended, subject to--- (i) the purpose of Te Ohu Kai Moana; and (ii) any restrictions specified by the trust deed on the way it may be varied; and (iii) the provisions of this Act. Struck out (majority) ======================================================================= (3) To the extent that any other matter in, or amendment to, the trust deed is inconsistent with this Act, it has no effect. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) A provision of the trust deed or an amendment to it has no effect to the extent that it is inconsistent with this Act {{or another enactment or rule of law}}. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 25A Matters to be included in annual plan The trust deed of Te Ohu Kai Moana must require Te Ohu Kai Moana Trustee Limited to include in its annual plan for the relevant year--- (a) whether Te Ohu Kai Moana Trustee Limited will hold and account separately or collectively for--- (i) the net proceeds of sales referred to in section 117(3); and (ii) income shares and dividends referred to in section 118(1); and (b) the matters referred to in section 117(4)(a) (which relates to the sale of annual catch entitlement) for the year to which the plan applies, unless those matters have been included in a panui; and (c) the budget for Te Ohu Kai Moana Trustee Limited; and (d) the budget [[to be paid by Te Ohu Kai Moana Trustee Limited]] for Te Kawai Taumata, as provided for under clause 18 of Schedule 7, including the daily rate for meetings payable to the members and alternate members of Te Kawai Taumata under clause 17 of Schedule 7; and (e) when relevant, the budget for--- (i) a review under section 98(2) and (3)(a); and (ii) a committee of representatives, as provided for under section 99(1), including the daily rate for meetings payable to the members of a committee under section 100D(4); and (f) the scale of fees (expressed in bands of $10,000) that applies for--- Struck out ======================================================================= ======================================================================= (i) the directors of Te Ohu Kai Moana Trustee Limited; and (ii) the directors of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (i) the directors of Te Ohu Kai Moana Trustee Limited, to be paid by Te Ohu Kai Moana Trustee Limited; and (ii) the directors of Te Putea Whakatupu Trustee Limited, to be paid by Te Putea Whakatupu Trustee Limited; and (iii) the directors of Te Wai Maori Trustee Limited, to be paid by Te Wai Maori Trustee Limited; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= (g) the policy that must apply to the payment of reimbursing allowances to, or actual and reasonable expenses of, the directors, members, and alternate members referred to in paragraphs (d), (e), and (f). ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (g) the policy that must apply to the payments referred to in paragraphs (d), (e), and (f) of reimbursing allowances to, or actual and reasonable expenses of, the directors, members, and alternate members, as the case may be. ----------------------------------------------------------------------- ----------------------------------------------------------------------- ----------------------------------------------------------------------- Struck out (majority) ======================================================================= 26 Reporting obligations of Te Ohu Kai Moana Trustee Limited (1) The trust deed of Te Ohu Kai Moana must set out the following reporting and consultation obligations of Te Ohu Kai Moana Trustee Limited: (a) Te Ohu Kai Moana Trustee Limited must, in measuring its performance against the annual plan and strategic plan, report annually within 5 months after the end of each financial year to mandated iwi organisations, representative Maori organisations, and recognised iwi organisations, giving notice of the public availability of the report; and (b) Te Ohu Kai Moana Trustee Limited, in each annual report, must--- (i) describe any amendments made to the trust deed; and (ii) describe the key activities undertaken by--- (A) Te Ohu Kai Moana Trustee Limited; and (B) any subsidiary set up by Te Ohu Kai Moana Trustee Limited, including Aotearoa Fisheries Limited and its subcompanies (if any); and (C) Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and (iii) separately describe each sale of income shares sold under section 55; and (iv) separately describe each of the funds it has reserved under section 24(1)(g), the reason why each reserve fund is held, and any proposed applications of those reserves; and (v) describe how the revenue from annual catch entitlements was used; and (vi) describe any special resolution passed during that year in respect of the matters referred to in section 24(1)(b)(ii) and (iii); and (vii) include--- (A) the audited financial statements; and (B) distributions made under section 24(1)(e); and (C) the remuneration and reimbursing allowances paid to members of Te Kawai Taumata under clause 17 of Schedule 7; and (c) Te Ohu Kai Moana Trustee Limited must hold an annual general meeting within 8 months after the end of each financial year to discuss and address issues arising from the annual report. (2) This section does not limit any reporting obligations arising under any enactment or rule of law. ======================================================================= New (majority) ----------------------------------------------------------------------- 26 Annual report of Te Ohu Kai Moana Trustee Limited (1) The trust deed of Te Ohu Kai Moana must set out the reporting obligations of Te Ohu Kai Moana Trustee Limited, as provided for in this section and section 26A. (2) In measuring its performance against the annual plan and strategic plan referred to in section 25(1)(b), Te Ohu Kai Moana Trustee Limited must report annually, not later than 5 months after the end of each financial year, to--- (a) mandated iwi organisations and representative Maori organisations; and (b) the members and alternate members of Te Kawai Taumata. (3) In each annual report required by subsection (2), Te Ohu Kai Moana Trustee Limited must--- (a) describe any amendments made to the trust deed of Te Ohu Kai Moana; and (b) describe the key activities undertaken by--- (i) Te Ohu Kai Moana Trustee Limited; and (ii) any subsidiary set up by Te Ohu Kai Moana Trustee Limited, including Aotearoa Fisheries Limited {{and each of its subcompanies (if any)}}; and (iii) Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and (c) describe any special resolution passed or approval granted during that year in respect of the matters referred to in section 24(1)(ba); and (d) separately describe each of the funds it has reserved under section 24(1)(g), the reason why each reserve fund is held, and any proposed applications of those reserves; and (e) separately describe each sale of income shares sold under section 55; and (f) describe how the revenue from annual catch entitlements sold in the previous year was used; and (g) describe separately or collectively, as provided for in the annual plan, the income shares and dividends held under section 118(1); and New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (ga) describe separately, in relation to any loan referred to in section 59(4)(db),--- (i) the capital sum of the loans; and (ii) the money received, in each case by way of capital repayments or interest; and (iii) loans written off or discharged; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- (h) list any appointments made by Te Ohu Kai Moana Trustee Limited to the board of directors of Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited; and Te Wai Maori Trustee Limited. (4) The annual report must include--- (a) the audited financial statements of Te Ohu Kai Moana {{Trust}} and Te Ohu Kai Moana Trustee Limited; and (b) a statement of--- (i) the payments made under section 24(1)(e); and (ii) the fees (expressed in bands of $10,000) and the reimbursing allowances or actual and reasonable expenses paid to each of the directors of Te Ohu Kai Moana Trustee Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited; and (iii) the remuneration and reimbursing allowances or actual and reasonable expenses paid, collectively, to--- (A) the members and alternate members of Te Kawai Taumata; and (B) the members of a committee of representatives. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 26A Consultation and other reporting obligations (1) The trust deed must require Te Ohu Kai Moana Trustee Limited--- (a) to hold a general meeting, not later than 8 months after the end of each financial year, to discuss and address issues arising from the annual report; and (b) to provide, in a timely manner, to mandated iwi organisations, representative Maori organisations, and the members and alternate members of Te Kawai Taumata--- (i) the minutes of every general meeting; and (ii) the annual report required by section 26, together with information on where the report is publicly available; and (iii) the annual and strategic plans referred to in section 25(1)(b). (2) This section does not limit any reporting obligations arising under any other enactment or rule of law. ----------------------------------------------------------------------- 27 Obligation to establish and maintain iwi register (1) The trust deed of Te Ohu Kai Moana must include an obligation on Te Ohu Kai Moana Trustee Limited to establish and maintain an iwi register. (2) The purpose of the iwi register is to provide a record {of the decisions made by Te Ohu Kai Moana Trustee Limited}, in respect of each iwi {in relation to} [, of] the matters set out in subsection (3). (3) Without limiting the scope of the iwi register, Te Ohu Kai Moana Trustee Limited must record in the [iwi] register {its decisions regarding}--- (a) [its] recognition of mandated iwi organisations {and recognised iwi organisations}; and Struck out (majority) ======================================================================= (b) approval of--- (i) the constitutional documents of mandated iwi organisations; and (ii) amendments to those constitutional documents; and ======================================================================= New (majority) ----------------------------------------------------------------------- (b) to the extent that the constitutional documents (and any amendments to them) relate to the matters provided for by or under this Act,--- (i) its approval of the documents of mandated iwi organisations; and (ii) the approval by mandated iwi organisations of the documents of their asset-holding companies and of any subsidiaries of those asset-holding companies; and ----------------------------------------------------------------------- (c) changes to the criteria or requirements that apply to mandated iwi organisations and their constitutional documents {as notified in the Gazette} [made] in accordance with section {15} [14AC]; and Struck out (majority) ======================================================================= (d) determination of coastline entitlements; and ======================================================================= New (majority) ----------------------------------------------------------------------- (d) its determinations on coastline entitlements or interim coastline entitlements made under clause 9 of Schedule 5; and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (e) if the coastlines of offshore islands are part of the coastline of an iwi, as contemplated by section 11(3); and ======================================================================= (f) {allocations and transfer} [the allocation] of settlement assets to {mandated} [each] iwi {organisations}; and New (majority) ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= (fa) the transfer of those settlement assets to the asset-holding company of the relevant mandated iwi organisation; and ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (fa) the transfer of those settlement assets to the mandated iwi organisation of the iwi or to an asset-holding company of the mandated iwi organisation, as appropriate; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- ----------------------------------------------------------------------- (g) {allowing, in accordance with Part 4,} any transfer of settlement quota [made in accordance with Part 4] that results from a sale or exchange. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 27A Review of revenue requirements (1) In this section and sections 27B and 27C,--- loan funds means the funds identified in section 27B(1)(c) revenue review means the review conducted in accordance with those sections. (2) The trust deed of Te Ohu Kai Moana must include an obligation on Te Ohu Kai Moana Trustee Limited to commence and complete, during the 12th year after the commencement of this Act, a review of the revenue requirements of Te Ohu Kai Moana Trustee Limited. (3) Te Ohu Kai Moana Trustee Limited must include, in the next annual report after the completion of the revenue review, a report on the findings and conclusions of the review. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 27B Scope of revenue review (1) The revenue review conducted under section 27A must consider and report on the following matters: (a) the activities that Te Ohu Kai Moana Trustee Limited must undertake in carrying out its duties and functions under this Act; and (b) the revenue that is necessary to enable Te Ohu Kai Moana Trustee Limited to carry out the activities identified under paragraph (a); and (c) whether, in order to meet the revenue requirements identified under paragraph (b), it is necessary for Te Ohu Kai Moana Trustee Limited to continue to hold and receive any of the funds relating to the loans referred to in clause 59(4)(db), as follows: (i) the capital funds of the loans: (ii) the income from the capital funds: (iii) the accumulated income from the loans. (2) If Te Ohu Kai Moana Trustee Limited determines under subsection (1)(c) that it is necessary that it continue to hold and receive some or all of the loan funds, it must--- (a) state the period of time for which it will continue to do so; and (b) complete a further revenue review before the expiry of the period of time provided for under paragraph (a). (3) In conducting the revenue review, Te Ohu Kai Moana Trustee Limited must--- (a) consult with mandated iwi organisations and representative Maori organisations; and (b) take their views into account. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 27C Allocation and transfer of surplus loan funds If Te Ohu Kai Moana Trustee Limited determines, in the revenue review conducted under section 27A, that some or all of the loan funds are not necessary to meet its revenue requirements identified under section 27B(1)(b), Te Ohu Kai Moana Trustee Limited must allocate and transfer the surplus loan funds to mandated iwi organisations in the percentage specified for each iwi in column 3 of Schedule 3. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Te Ohu Kai Moana Trustee Limited 28 Constitution of Te Ohu Kai Moana Trustee Limited Struck out (majority) ======================================================================= (1) The company must have--- (a) only 1 share that--- (i) has no voting or distribution rights; and (ii) is held by the chairperson of the board of the company; and (b) a constitution that provides--- (i) that the company's capacity is restricted to acting as the trustee of Te Ohu Kai Moana; and (ii) that the company must have at least 6, and not more than 7, directors; and (iii) that Te Kawai Taumata must appoint, and may remove, the directors of the company; and (iv) that the company may be put into voluntary liquidation only if Te Ohu Kai Moana is terminated; and (v) that all its directors must be Maori; and (vi) that, having regard to the purpose of Te Ohu Kai Moana, the directors collectively must have commercial expertise and business skills, and be well versed in matters of tikanga Maori; and (vii) a procedure--- (A) for amending its constitution; and (B) for putting the company into liquidation. ======================================================================= New (majority) ----------------------------------------------------------------------- (1) Te Ohu Kai Moana Trustee Limited must have--- (a) only 1 share that--- Struck out ======================================================================= ======================================================================= (i) has no voting rights, except in relation to changes to the constitution; and ======================================================================= ======================================================================= (ii) has no distribution rights; and (iii) is held {{by}} [[jointly by the members of]] the board of Te Ohu Kai Moana Trustee Limited; and (b) a constitution that is consistent with this Act. (1A) The constitution must provide--- (a) that the role of Te Ohu Kai Moana Trustee Limited is restricted to acting as the trustee of Te Ohu Kai Moana; and (b) that Te Ohu Kai Moana Trustee Limited must have a board that consists of at least 6, and not more than 7, directors; and (c) that an extraordinary vacancy of a director does not create a breach of the constitution, so long as--- (i) there is an alternate for that director; and (ii) a new director is appointed within 6 months of the vacancy arising; and (d) that, in accordance with sections 30 to 33, Te Kawai Taumata--- (i) must appoint the directors (except the first directors) of Te Ohu Kai Moana Trustee Limited; and (ii) may remove any director; and (e) that each of the directors of Te Ohu Kai Moana Trustee Limited must be a Maori; and (f) that, having regard to the purpose of Te Ohu Kai Moana, the directors of Te Ohu Kai Moana Trustee Limited collectively must have commercial expertise and business skills, and be well versed in matters of tikanga Maori; and (g) a procedure for the appointment of an alternate for a director to attend and vote at meetings on behalf of that director; and (h) a method by which the board of Te Ohu Kai Moana Trustee Limited must address conflicts of interest for its directors; and (i) that no director of Te Ohu Kai Moana Trustee Limited may undertake any contract for services for Te Ohu Kai Moana Group; and (j) the restrictions that apply to the chairperson and deputy chairperson of Te Ohu Kai Moana Trustee Limited in relation to any other appointment under this Act; and (k) the criteria that must be taken into account when an alternate director is appointed and any restrictions on eligibility that apply to the appointment of an alternate; and (l) a procedure for amending the constitution of Te Ohu Kai Moana Trustee Limited; and (m) that Te Ohu Kai Moana Trustee Limited must convene at least 1 general meeting each financial year; and (n) that Te Ohu Kai Moana Trustee Limited must give public notice of not less than 20 working days that a general meeting is to be held and the agenda for that meeting, with separate written notice to--- (i) each mandated iwi organisation and representative Maori organisation; and (ii) each member and alternate member of Te Kawai Taumata; and (o) that Te Ohu Kai Moana Trustee Limited must put any written motion to a non-binding vote at a general meeting, provided the motion is supported by not less than 20% of the total number of mandated iwi organisations; and (p) that Te Ohu Kai Moana Trustee Limited may be put into voluntary liquidation only if Te Ohu Kai Moana is terminated; and (q) a process for putting Te Ohu Kai Moana Trustee Limited into voluntary liquidation. ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= (2) The constitution may provide for a special resolution to be passed giving a general power of sale, as contemplated by sections 55(1)(a) and 129(2)(a), together with any terms and conditions as to the exercise of the general power of sale. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (2) The constitution must provide for a specific power of sale of income shares or settlement quota or both and may provide for a general power of sale of income shares or settlement quota or both, including in each case any terms and conditions as to the exercise of the power. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- (2A) A provision of the constitution of Te Ohu Kai Moana Trustee Limited is of no effect to the extent that it is inconsistent with this Act {{or another enactment or rule of law}}. ----------------------------------------------------------------------- (3) Te Ohu Kai Moana Trustee Limited has full powers to act in its {capacity} [role] as the trustee of Te Ohu Kai Moana. Appointment of directors {of trustee} 29 First directors of Te Ohu Kai Moana Trustee Limited (1) The Minister of Maori Affairs must appoint the first directors of Te Ohu Kai Moana Trustee Limited. Struck out (majority) ======================================================================= (2) The appointments referred to in subsection (1) take effect on the appointed day. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) The directors appointed under subsection (1) {{may}} [[must]] not exercise any powers or functions as directors or take any other action before the appointed day. ----------------------------------------------------------------------- (3) Each director appointed by the Minister under subsection (1) must, immediately before the appointed day, be a member of the [Treaty of Waitangi Fisheries] Commission. (4) Despite section 31(1), 3 of the directors appointed under subsection (1) {as specified by the Minister, must hold office} [must be appointed] for a term not exceeding 2 years[, as specified by the Minister]. (5) Before appointing the first directors, the Minister may consult any person he or she considers appropriate. 30 Subsequent appointments (1) Te Kawai Taumata must, in accordance with this Act and the constitution of Te Ohu Kai Moana Trustee Limited, appoint to the board of Te Ohu Kai Moana Trustee Limited--- (a) 3 directors to replace the directors {retiring} [whose terms expire] under section 29(4); and (b) all other directors. (2) If at any time Te Kawai Taumata cannot make all the appointments necessary to fill the board of Te Ohu Kai Moana Trustee Limited, {it} [the members of Te Kawai Taumata (or their alternates)] must nominate which of the directors will not be replaced for the time being. 31 Term of office of directors (1) A director is appointed under section 29(1) or section 30(1) for a term not exceeding 4 years. (2) However, a director--- (a) who has held office for 2 consecutive full terms (disregarding any appointment to fill a vacancy arising during the term of another director) is not eligible to be reappointed as a director within 2 years after ceasing to hold office; and (b) whose term of office expires, continues in office until his or her successor is appointed in accordance with this Act and the constitution of Te Ohu Kai Moana Trustee Limited. 32 Eligibility for office of director (1) A person who is, or who has been within the previous 2 years, a member {or alternate member} [[or alternate member]] of Te Kawai Taumata is not eligible for appointment as a director [or alternate director] of Te Ohu Kai Moana Trustee Limited or of a subsidiary of Te Ohu Kai Moana Trustee Limited. (2) {However, if} [If] a director of Te Ohu Kai Moana Trustee Limited or of a subsidiary of Te Ohu Kai Moana Trustee Limited becomes a member {or alternate member} [[or alternate member]] of Te Kawai Taumata, he or she {must be treated as having resigned} [must, within 5 working days, resign] as a director [or alternate director] of Te Ohu Kai Moana Trustee Limited or of the subsidiary, as the case may be. 33 Removal of directors (1) A director appointed under section 29(1) may be removed from office by the Minister of Maori Affairs, without compensation, for disability affecting the performance of duty, neglect of duty, or misconduct, proved to the satisfaction of the Minister. (2) A director appointed under section 30(1) may be removed from office, without compensation, at any time by Te Kawai Taumata in accordance with the constitution of Te Ohu Kai Moana Trustee Limited and Schedule 7. 34 Effect of vacancy in membership of Te Ohu Kai Moana Trustee Limited The functions and powers of Te Ohu Kai Moana Trustee Limited are not affected by a vacancy in the membership of the board. Iwi register 35 Documentation relating to iwi register (1) Te Ohu Kai Moana Trustee Limited must preserve, for not less than 12 years from the date when the document {came} [comes] into existence, every document relevant to the iwi register, in respect of--- (a) iwi constitutional documents; and (b) documents submitted in making a coastline claim under section 11; and (c) records of the process by which coastline entitlements are determined by Te Ohu Kai Moana Trustee Limited; and (d) other documents that Te Ohu Kai Moana Trustee Limited considers relevant to the matters set out in section 27(3). (2) {In addition to the full record required by subsection (1),} Te Ohu Kai Moana Trustee Limited may create {summary documents} [summaries of the records listed in subsection (1)] for the purpose of section 36. 36 Access to iwi register (1) The iwi register must be available for access upon request by--- (a) a mandated iwi organisation: (b) a member of an iwi: New (majority) ----------------------------------------------------------------------- (c) the members and alternate members of Te Kawai Taumata. ----------------------------------------------------------------------- (2) {Subsection (1) applies unless access is} [However, access to the iwi register may be] restricted under a policy of Te Ohu Kai Moana Trustee Limited prepared under section 37. 37 Policy on iwi register (1) Te Ohu Kai Moana Trustee Limited may prepare a policy on the iwi register that includes--- (a) rules on access to--- (i) information on the register: (ii) documents {preserved in} [that are relevant to, and included with, information on] the register: (b) criteria that apply to--- (i) protect the confidentiality of information in the iwi register: (ii) restrict access to the register: (c) [the circumstances] when only a summary of information [on the iwi register] will be accessible, and [those] when the full documentation will be accessible: (d) when and where the iwi register may be accessed: (e) fees and charges that apply for supplying information requested from the iwi register. (2) In preparing a policy on the iwi register, Te Ohu Kai Moana Trustee Limited must comply with the procedures set out in section 38. Rule-making procedure 38 Procedures for making or amending rules (1) Te Ohu Kai Moana Trustee Limited may make or amend rules {in respect of}--- (a) {changing} [that change] the procedures {that apply} [applying] to the sale [or exchange] of settlement quota under Part 4: (b) [that affect the criteria or other requirements applying to] the constitutional documents of mandated iwi organisations {under} [in accordance with] section 15: (c) {the provision of} [that restrict] access to the iwi register under section 36. (2) Te Ohu Kai Moana Trustee Limited must give notice in the Gazette of rules made or amended under subsection (1). (3) Before notifying a rule or an amendment under subsection (2), Te Ohu Kai Moana Trustee Limited must, in respect of the proposed rule or amendment,--- (a) identify the mandated iwi organisations that will be affected by the proposal; and (b) inform {the affected mandated iwi organisations} [them] of the proposal; and (c) if Te Ohu Kai Moana Trustee Limited will be a party affected by the proposal, inform the affected mandated iwi organisations of that fact; and (d) allow not less than 20 working days for affected mandated iwi organisations to make [written] submissions to Te Ohu Kai Moana Trustee Limited on the proposal; and (e) take into account submissions made by mandated iwi organisations under paragraph (d); and (f) notify the affected mandated iwi organisations of significant issues raised by the submissions and how those issues were taken into account. New (majority) ----------------------------------------------------------------------- (4) Rules must not be inconsistent with this Act or any other enactment or rule of law. ----------------------------------------------------------------------- Subpart 2---Te Kawai Taumata 39 Establishment of Te Kawai Taumata (1) The chairperson of the board of Te Ohu Kai Moana Trustee Limited must [by written notice] request those with responsibility under clause 1 of Schedule 7 to commence the process {to establish} [to appoint the members and alternate members of] Te Kawai Taumata. (2) The duty under subsection (1) must be completed not later than 6 months before the term of office {of 3 directors of Te Ohu Kai Moana Trustee Limited} expires under section 29(4) [for 3 directors of Te Ohu Kai Moana Trustee Limited]. (3) Schedule 7 applies to [the members and alternate members of] Te Kawai Taumata {and its members}. 40 Sole function of Te Kawai Taumata (1) The sole function of [the members and alternate members of] Te Kawai Taumata is to appoint and remove directors of Te Ohu Kai Moana Trustee Limited in accordance with--- (a) the requirements of this Act; and (b) the constitution of Te Ohu Kai Moana Trustee Limited. Struck out (majority) ======================================================================= (2) In appointing or removing directors, Te Kawai Taumata--- (a) must act collegially; and (b) is not subject to directions from the board of Te Ohu Kai Moana Trustee Limited or any of its directors; and (c) may seek advice from any source it considers appropriate in reaching a decision on the appointment or removal of a director. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) In carrying out their function under subsection (1), the members and alternate members of Te Kawai Taumata,--- (a) are not subject to directions from the board of Te Ohu Kai Moana Trustee Limited or any of its directors; and (b) may collectively seek advice from any source they consider appropriate; and (c) must act in a manner that is consistent with achieving the purpose of Te Ohu Kai Moana; and (d) must receive audit reports under section 97 and review reports under section 100I, and may comment on the review reports as provided for by section 100K(1), to the extent that the review reports are concerned with the role, activities, or performance of Te Kawai Taumata. ----------------------------------------------------------------------- 41 Membership of Te Kawai Taumata (1) Te Kawai Taumata must have not more than 11 [members], and not fewer than 6, {members,} together with an alternate member for each member. (2) One member of Te Kawai Taumata, and an alternate for that member, may be appointed, in accordance with clauses 1 to 3 of Schedule 7, by--- (a) each of the groups of iwi set out in column 1 {of Part 1} of Schedule 3; and (b) the group of representative Maori organisations listed in Schedule 4. (3) All members of Te Kawai Taumata and their alternates must be Maori. 42 Alternate members of Te Kawai Taumata (1) An alternate member may act in place of the member[, but only] if the member is unable by illness, absence, or other reason to act as a member. (2) The death, resignation, or removal from office of a member does not cause the removal from office of that member's alternate member[, until the new member and his or her alternate member are appointed, which must not be later than 6 months after the death, resignation, or removal from office of the member]. Struck out (majority) ======================================================================= (3) However, an alternate member is not permitted to carry out functions under this subpart if the member corresponding to the alternate member has not been appointed under section 41(2). ======================================================================= 43 Eligibility for membership of Te Kawai Taumata (1) Any Maori is eligible for appointment as a member or alternate member of Te Kawai Taumata if,--- (a) in the case of a person appointed by mandated iwi organisations, a majority of the mandated iwi organisations in the group have voted for that person; or (b) in the case of a person appointed by the representative Maori organisations, a majority of those organisations have voted for that person; or (c) in the case of the person appointed by Ngapuhi, a majority of the directors, trustees, or office holders of the Ngapuhi mandated iwi organisation [have] voted for that person. (2) A person is not eligible {for appointment as} [to be] a member or alternate member of Te Kawai Taumata at the same time as he or she is a director of--- (a) Te Ohu Kai Moana Trustee Limited; or (b) Aotearoa Fisheries Limited or any other subsidiary of Te Ohu Kai Moana Trustee Limited; or (c) a subcompany {of Aotearoa Fisheries Limited}; or (d) Te Putea Whakatupu Trustee Limited; or (e) Te Wai Maori Trustee Limited. Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- (3) If subsection (2) is breached, the member or alternate member must resign from 1 of the positions within 5 working days. ----------------------------------------------------------------------- ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (3) If subsection (2) is breached, the member or alternate member of Te Kawai Taumata must, within 5 working days, resign as a director of any company listed in that subsection. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Subpart 3---Aotearoa Fisheries Limited Establishment 44 Establishment of Aotearoa Fisheries Limited (1) {The} [Before the appointed day, unless it has {{already}} done so [[before the commencement of this Act,]] the Treaty of Waitangi Fisheries] Commission must{, before the appointed day,} form a company under the Companies Act 1993 with the name Aotearoa Fisheries Limited. Struck out (majority) ======================================================================= (2) Aotearoa Fisheries Limited must have income shares and voting shares. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) Aotearoa Fisheries Limited must have--- (a) voting shares that have--- (i) all the rights to vote under the Companies Act 1993, except those under section 196 of that Act, subject to the decisions taken by income shareholders using their rights under the constitution of Aotearoa Fisheries Limited; but (ii) No rights to distributions from Aotearoa Fisheries Limited; and (b) income shares that have--- (i) equal distribution rights; and (ii) sole rights to vote under section 196 of the Companies Act 1993. ----------------------------------------------------------------------- (3) To avoid doubt, Aotearoa Fisheries Limited is not the company of the same name referred to in section 12 of the Maori Fisheries Act 1989. {Function and powers} [Duty of Aotearoa Fisheries Limited] 45 {Function and powers} [Duty] of Aotearoa Fisheries Limited (1) {The function of} Aotearoa Fisheries Limited {is to} [must] manage its assets in a commercial manner. Struck out (majority) ======================================================================= (2) In carrying out its function, Aotearoa Fisheries Limited and its subcompanies may undertake--- (a) fishing and fisheries-related activities: (b) other activities including, but not limited to, activities related to the seafood industry. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) [[Despite section 24(2),]] in carrying out its duty under subsection (1), Aotearoa Fisheries Limited and its subcompanies may undertake--- (a) fishing and fisheries-related activities: (b) other activities including, but not limited to, activities related to the seafood industry. ----------------------------------------------------------------------- (3) However, Aotearoa Fisheries Limited and its subcompanies must not undertake activities referred to in subsection (2)(b) unless they do so in a manner consistent with the terms and conditions of an approval given under section 24(1){(b)(ii) or (iii)} [(ba)]. Constitution of Aotearoa Fisheries Limited Struck out (majority) ======================================================================= 46 Requirements for constitution (1) The constitution of Aotearoa Fisheries Limited must provide--- (a) that a special resolution must not be passed by Aotearoa Fisheries Limited for the purposes of section 129(1) of the Companies Act 1993 or for any other purpose unless Te Ohu Kai Moana Trustee Limited is satisfied that the transaction that is the subject of the resolution will not create a breach of section 24(1)(b)(ii) or (iii); and (b) procedures for meetings of the directors; and (c) a procedure for the appointment of an alternate for a director to attend and vote at meetings on behalf of that director; and (d) that Aotearoa Fisheries Limited must report through Te Ohu Kai Moana Trustee Limited to income shareholders with--- (i) formal unaudited half-yearly financial statements; and (ii) audited yearly financial statements; and (iii) an accompanying annual report; and (e) a process for the sale of income shares in accordance with the provisions of sections 53 to 56, including--- (i) notification to the adult members of the iwi of a proposed sale in accordance with the constitutional documents of the mandated iwi organisation; and (ii) a requirement that all the income shares that a mandated iwi organisation proposes to sell must be offered to--- (A) Te Ohu Kai Moana Trustee Limited; and (B) every other mandated iwi organisation; and (f) that Aotearoa Fisheries Limited may issue additional income shares; and (g) that Aotearoa Fisheries Limited may establish subcompanies; and (h) that Aotearoa Fisheries Limited must--- (i) maintain a register that records--- (A) all income shareholders; and (B) all transfers of income shares; and (ii) record transfers of shares in the register if, and only if, the transfers comply with all the requirements of sections 53 to 56; and (i) that on Aotearoa Fisheries Limited being put into liquidation, distributions must be made to the income shareholders in proportion to their shareholding at the time of liquidation; and (j) that the constitution must not be amended in a way that affects the rights or entitlements of the income shareholders, unless the shareholders of at least 75% of the income shares approve; and (k) for any other matter that is required by this Act. (2) To the extent that a provision of the constitution of Aotearoa Fisheries Limited is inconsistent with this Act, it has no effect. ======================================================================= New (majority) ----------------------------------------------------------------------- 46 Requirements for constitution (1) Aotearoa Fisheries Limited must have a constitution that includes--- (a) a provision that prevents Aotearoa Fisheries Limited from passing a special resolution for the purpose of approving any transaction that {{could}} [[would be likely to]] have the effect of breaching section 24(1)(ba); and (b) a procedure for the appointment of an alternate for a director to attend and vote at meetings on behalf of that director; and (c) the criteria that must be taken into account when an alternate is appointed, and any restrictions on eligibility that apply to an appointment; and (d) a method by which the board of Aotearoa Fisheries Limited must address conflicts of interest that may arise for its directors; and (e) a provision enabling income shareholders to pass non-binding resolutions relating to the management of the company; and (f) a requirement that Aotearoa Fisheries Limited report to income shareholders with--- (i) formal unaudited half-yearly financial statements; and (ii) audited yearly financial statements; and (iii) an annual report that includes a statement of any change in the value of the company for the financial year, together with a statement of the method by which that value was determined; and (iv) a business plan for the next financial year, including a summary of the key activities {{and major transactions or projects}} to be undertaken in that year; and (v) the minutes of the annual general meeting and any special general meeting; and (g) a requirement that Aotearoa Fisheries Limited [[use its best endeavours to]] work co-operatively with iwi on commercial matters; and (h) requirements that Aotearoa Fisheries Limited--- (i) establish a process for the disposal of income shares in accordance with the provisions of sections 53 to 56; and (ii) maintain a register that records--- (A) all income shareholders; and (B) all transfers of income shares; and (iii) record transfers of shares in the register if, and only if, the transfers comply with the requirements of sections 53 to 56; and (i) a requirement that if Aotearoa Fisheries Limited is put into liquidation, distributions must be made to the income shareholders in proportion to their shareholding at the time of liquidation; and (j) a provision that the constitution must not be amended in a way that affects the rights or entitlements of the income shareholders, unless the shareholders of at least 75% of the income shares approve; and (k) a provision enabling Aotearoa Fisheries Limited--- (i) to issue additional income shares; and (ii) to establish subcompanies; and (l) provisions for any other matters that are required by this Act. (2) This section does not limit any reporting obligations arising under another enactment or rule of law. (3) To the extent that a provision of the constitution of Aotearoa Fisheries Limited or an amendment to it is inconsistent with this Act {{or another enactment or rule of law}}, that provision has no effect. ----------------------------------------------------------------------- Directors 47 Directors of Aotearoa Fisheries Limited (1) Te Ohu Kai Moana Trustee Limited must appoint[[, and may remove,]] the directors of Aotearoa Fisheries Limited. (2) Aotearoa Fisheries Limited must have [not fewer than] 5[, and not more than 8,] directors. New (majority) ----------------------------------------------------------------------- (3) An extraordinary vacancy of a director does not create a breach of this section if the vacancy is filled within 3 months. ----------------------------------------------------------------------- 48 Restrictions on appointment of directors (1) Not more than {40%} [2] of the directors of Aotearoa Fisheries Limited may be directors or employees of Te Ohu Kai Moana Trustee Limited. New (majority) ----------------------------------------------------------------------- (1A) Neither the chairperson nor the deputy chairperson of either Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited may, at the same time, be the chairperson or deputy chairperson of the other. ----------------------------------------------------------------------- (2) If subsection (1) is breached, the most recently appointed director of Aotearoa Fisheries Limited who is also a director or employee of Te Ohu Kai Moana Trustee Limited must resign[, within 5 working days,]--- (a) {his or her directorship} [as a director] of Aotearoa Fisheries Limited; or (b) as a director or employee of Te Ohu Kai Moana Trustee Limited[, as the case may be]. (3) A breach of subsection (1) does not--- (a) invalidate an action or decision of Aotearoa Fisheries Limited: (b) occur in the case of an extraordinary vacancy of a director, if the vacancy is filled {in a timely manner} [within 3 months]. (4) To avoid doubt, subsection (1) does not apply to the appointment of an alternate for a director, as provided for in the constitution of Aotearoa Fisheries Limited under section 46(1)(b). (5) A person who is, or who has been within the previous 2 years, a member or alternate member of Te Kawai Taumata is not eligible for appointment as a director of Aotearoa Fisheries Limited. (6) A director of Aotearoa Fisheries Limited is not eligible to be, at the same time, a director of Te Putea Whakatupu Trustee Limited or of Te Wai Maori Trustee Limited. 49 Directors of subcompanies (1) In this section, if a subcompany of Aotearoa Fisheries Limited is a trust or an entity other than a company, a reference to a director of a subcompany is a reference to a trustee or office holder of the entity. (2) Not more than {40%} [2] of the directors of a subcompany of Aotearoa Fisheries Limited may be directors or employees of Te Ohu Kai Moana Trustee Limited. (3) If subsection (2) is breached, the most recently appointed director of the subcompany who is also a director or employee of Te Ohu Kai Moana Trustee Limited must {resign} [, within 5 working days, resign, as the case may be,]--- (a) {his or her directorship} [as a director] of the subcompany; or (b) as a director or employee of Te Ohu Kai Moana Trustee Limited. (4) A breach of subsection (2) does not--- (a) invalidate an action or decision of the subcompany; or (b) occur in the case of an extraordinary vacancy of a director of the subcompany if the vacancy is filled {in a timely manner} [within 3 months]. (5) A person who is, or who has been within the previous 2 years, a member [or alternate member] of Te Kawai Taumata is not eligible for appointment as a director of a subcompany of Aotearoa Fisheries Limited. (6) A director of a subcompany {of Aotearoa Fisheries Limited} is not eligible to be, at the same time, a director of Te Putea Whakatupu Trustee Limited or of Te Wai Maori Trustee Limited. Voting shares 50 Voting shares (1) On the appointed day, Aotearoa Fisheries Limited must have{, or issue to Te Ohu Kai Moana Trustee Limited 125 000 voting shares} [125 000 voting shares, all of which it must issue to Te Ohu Kai Moana Trustee Limited, unless it has already done so]. (2) Te Ohu Kai Moana Trustee Limited must retain control of all the voting shares in Aotearoa Fisheries Limited. (3) However, if a {review under section 89 or section 90} [resolution that is supported under section 100K(3)] requires the transfer or issue of voting shares to mandated iwi organisations, that requirement must be implemented in accordance with {section 99(4)} [the resolution]. Income shares Struck out (majority) ======================================================================= 51 Income shares (1) On the appointed day, Aotearoa Fisheries Limited must have, or issue to Te Ohu Kai Moana Trustee Limited, the initial 125 000 income shares. (2) Income shares in Aotearoa Fisheries Limited may be held only by Te Ohu Kai Moana Trustee Limited and mandated iwi organisations. (3) Te Ohu Kai Moana Trustee Limited must--- (a) retain 20% of all the income shares issued at any time by Aotearoa Fisheries Limited; and (b) hold the other 80% of income shares in trust for iwi; and (c) allocate the shares referred to in paragraph (b) to mandated iwi organisations in accordance with section 105. ======================================================================= New (majority) ----------------------------------------------------------------------- 51 Income shares (1) On the appointed day, Aotearoa Fisheries Limited must have 125 000 income shares, all of which it must issue to Te Ohu Kai Moana Trustee Limited, unless it has already done so. (2) Income shares in Aotearoa Fisheries Limited must be held only by--- (a) Te Ohu Kai Moana Trustee Limited, either as an owner or trustee; and (b) mandated iwi organisations, through their asset-holding companies. (3) Te Ohu Kai Moana Trustee Limited must--- (a) retain ownership of 20% of all the income shares issued at any time by Aotearoa Fisheries Limited; and (b) until they are allocated in accordance with section 105, hold the other 80% of income shares issued under subsection (1) in trust for iwi. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= 52 Additional income shares If Aotearoa Fisheries Limited issues additional income shares, they must be issued to income shareholders in proportion to the income shares they hold at the date of issue, including income shares held in trust under section 51(3)(b). ======================================================================= New (majority) ----------------------------------------------------------------------- 52 Additional income shares If Aotearoa Fisheries Limited issues additional income shares,--- (a) they must be offered to income shareholders in proportion to the income shares they hold at the date of issue, including income shares held in trust under section 51(3)(b); and (b) in the case of any unsubscribed shares, they must be offered or withdrawn in accordance with the constitution of Aotearoa Fisheries Limited. ----------------------------------------------------------------------- 53 Disposal of income shares by mandated iwi organisations (1) A mandated iwi organisation may sell its income shares, but only--- (a) to Te Ohu Kai Moana Trustee Limited; or (b) to another mandated iwi organisation; and (c) in accordance with section 54 [and] [[the process established in]] the constitution of Aotearoa Fisheries Limited. (2) Despite subsection (1), a mandated iwi organisation must not sell income shares allocated to it under section 105 within 2 years after the date on which those shares are transferred to it under section 101 or section 102. Struck out (majority) ======================================================================= (3) Income shares must not be gifted. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) Income shares--- (a) must not be gifted; and (b) may be exchanged or otherwise disposed of, but only in accordance with this Act and [[the process established in]] the constitution of Aotearoa Fisheries Limited. ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (4) An exchange or other disposal of income shares must be treated as a sale under sections 53 to 57. ----------------------------------------------------------------------- ----------------------------------------------------------------------- 54 Process for disposal of income shares [by mandated iwi organisations] (1) Before a mandated iwi organisation may sell its income shares, it must--- (a) {notify adult members of the iwi} [notify] {of} its proposal to sell income shares, in accordance with the constitutional documents of the mandated iwi organisation; and (b) obtain the prior approval of at least 75% of the adult members of the iwi who {participate} [vote]--- (i) {by voting at an annual} [at a] general meeting {or a special general meeting}; or (ii) in a process prescribed in the constitutional documents of the mandated iwi organisation. Struck out (majority) ======================================================================= (2) A notice given under subsection (1)(a) must specify a reasonable estimate of the net present value or likely sale price of the shares and the number of shares for which approval to sell is sought. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) A notice given under subsection (1)(a) must specify,--- (a) in a public notice,--- (i) the approximate proportion of the total value of the income shares of the mandated iwi organisation affected by the proposal; and (ii) the date on which any approval expires; and (b) in a private notice, if required under kaupapa 3A of Schedule 6,--- (i) the number of income shares affected by the proposal; and (ii) a reasonable estimate of the net present value or likely sale price of those shares. (2A) If approval to sell income shares is obtained under subsection (1)(b), the mandated iwi organisation must--- (a) offer the income shares to--- (i) every mandated iwi organisation; and (ii) Te Ohu Kai Moana Trustee Limited; and (b) accept the best price reasonably obtainable at the time of the sale, unless the offer permits the mandated iwi organisation to withdraw the income shares from sale. ----------------------------------------------------------------------- (3) Approval obtained under subsection (1)(b) to sell income shares is valid for not more than 15 months from the date on which it is given. (4) As soon as is reasonably practicable after a mandated iwi organisation has sold any income shares under section 53, it must--- (a) notify Aotearoa Fisheries Limited of the sale; and (b) provide {evidence} [documentation to Aotearoa Fisheries Limited, supported by a statutory declaration if Aotearoa Fisheries Limited so requires, to establish] that the sale complied with all the requirements of sections 53 {to} [, 54, and] 56. 55 Disposal of income shares by Te Ohu Kai Moana Trustee Limited (1) Te Ohu Kai Moana Trustee Limited may sell income shares acquired under section 53 to a mandated iwi organisation[[, but]] {if it has} [only if]--- (a) [it has] passed a special resolution giving it a specific power of sale of income shares, or the sale meets the terms and conditions of a general power of sale; and (b) {if} the shares are offered to every mandated iwi organisation; and New (majority) ----------------------------------------------------------------------- (c) it accepts the best price reasonably obtainable at the time of the sale, unless the offer permits Te Ohu Kai Moana Trustee Limited to withdraw the income shares from sale; and (d) it acts in accordance with the constitution of Aotearoa Fisheries Limited. ----------------------------------------------------------------------- (2) Te Ohu Kai Moana Trustee Limited must not sell income shares held under section 51(3). New (majority) ----------------------------------------------------------------------- (3) As soon as is reasonably practicable after Te Ohu Kai Moana Trustee Limited has sold any income shares under subsection (1), it must--- (a) notify Aotearoa Fisheries Limited of the sale; and (b) provide documentation to Aotearoa Fisheries Limited, supported by a statutory declaration if Aotearoa Fisheries Limited so requires, to establish that the sale complied with all the requirements of this section. ----------------------------------------------------------------------- 56 Other constraints on disposal of income shares (1) Section 54(1) to (3) applies[, with the necessary modifications,] if a mandated iwi organisation proposes to enter into a transaction [with a third party] ({{including}} [[for example,]] an option, security, or guarantee) or series of transactions that could result in--- (a) the sale of its income shares; or (b) the iwi being disentitled to the income from the income shares for a period of more than 5 years. (2) If a [third] party to a transaction or series of transactions referred to in subsection (1) exercises a right to sell or requires the sale of income shares,--- (a) section 53(1)(a) and (b) applies as if the vendor were a mandated iwi organisation; and (b) the [third] party proposing to sell must notify the proposal to--- (i) Te Ohu Kai Moana Trustee Limited; and (ii) all mandated iwi organisations. (3) As soon {is} as [is] reasonably practicable after a [third] party has sold {{its}} income shares [under subsection (2)], it must--- (a) notify Aotearoa Fisheries Limited; and (b) provide {evidence} [documentation to Aotearoa Fisheries Limited, supported by a statutory declaration if Aotearoa Fisheries Limited so requires, to establish] that the sale complied with subsection (2). New (majority) ----------------------------------------------------------------------- (4) In this section, third party means a party that is not entitled to hold settlement quota or income shares. ----------------------------------------------------------------------- 57 Remedy for breach of sections 53 to 56 (1) If a contract for the sale of income shares, including a transaction or series of transactions referred to in section 56(1), is in breach of section 51 or sections 53 to 56, the Court may make orders{, including} [that]--- (a) {an order cancelling} [cancel] the contract or transaction: (b) {an order vesting in the owner} [vest in the vendor] the income shares that were the subject of the contract or transaction: (c) {an order vesting} [vest] in the buyer the consideration for the contract or transaction: (d) [the Court thinks fit,] if the buyer has on-sold, or has granted any interest in, or security over, the income shares{, an order that the Court thinks fit}: (e) {an order that} the costs of the applicant be met by the parties to the sale or transaction. (2) Orders made under subsection (1) may be made--- (a) on the application of--- (i) a party; or (ii) {a} [an adult] member of an iwi whose mandated iwi organisation is a party; or (iii) a mandated iwi organisation; or (iv) Te Ohu Kai Moana Trustee Limited; and Struck out (majority) ======================================================================= (b) on the terms and conditions that the Court thinks fit, provided that the income shares are not vested other than in a mandated iwi organisation or in Te Ohu Kai Moana Trustee Limited. ======================================================================= New (majority) ----------------------------------------------------------------------- (b) on the terms and conditions that the Court thinks fit, so long as the income shares are not vested other than in--- (i) a mandated iwi organisation, to be held in trust by an asset-holding company of the mandated iwi organisation; or (ii) Te Ohu Kai Moana Trustee Limited. ----------------------------------------------------------------------- (3) In the case of a breach of section 51(2) or sections 53 to 56, the Illegal Contracts Act 1970 does not apply. Struck out (majority) ======================================================================= 58 Exceptions to restrictions on disposal of income shares (1) Sections 53 to 57 do not apply to transfers of income shares between asset-holding entities owned by the same mandated iwi organisation. (2) If an asset-holding entity ceases to be wholly owned or controlled by its mandated iwi organisation, its income shares are deemed to revert to the ownership of the mandated iwi organisation. ======================================================================= New (majority) ----------------------------------------------------------------------- 58 Exceptions to restrictions on disposal of income shares (1) Sections 53 to 57 do not apply to transfers of income shares between or among--- (a) asset-holding companies wholly owned by the same mandated iwi organisation; or (b) subsidiaries of asset-holding companies that are wholly owned by the same mandated iwi organisation. (2) If an asset-holding company or a subsidiary of an asset-holding company ceases to be wholly owned by its mandated iwi organisation, its income shares must be--- (a) treated as the property of the mandated iwi organisation; and (b) held by another asset-holding company of the mandated iwi organisation, as required by section 14A(1)(c). ----------------------------------------------------------------------- {Distribution} [Transfer] of assets 59 {Distribution} [Transfer] of assets to Aotearoa Fisheries Limited Struck out (majority) ======================================================================= (1) In this section, assets means any interests in companies or other commercial entities held by the Commission before the appointed day. ======================================================================= New (majority) ----------------------------------------------------------------------- (1) In this section, assets includes any assets, whether in the form of quota shares, interests, rights, or liabilities, that, immediately before the appointed day, are owned, controlled, or held by--- (a) the Treaty of Waitangi Fisheries Commission; or (b) any company or other commercial entity, to the extent that it is owned or controlled by the Treaty of Waitangi Fisheries Commission. ----------------------------------------------------------------------- (2) Before the appointed day, the [Treaty of Waitangi Fisheries] Commission may{, without charge, distribute} [transfer some or all of its assets] to Aotearoa Fisheries Limited or to any of its subcompanies{, some or all of the assets}. (3) On the appointed day, Te Ohu Kai Moana Trustee Limited must {without charge, distribute} [transfer] to Aotearoa Fisheries Limited, or to any of its subcompanies, all of the assets that have not been {distributed} [transferred] under subsection (2). (4) However, subsections (2) and (3) do not apply to--- (a) quota shares listed in Schedule 1; or (b) assets described in section 103(1); or (c) any entities in which Te Ohu Kai Moana Trustee Limited has a {financial} [controlling] interest that hold any of the quota listed in Schedule 1; or Struck out (majority) ======================================================================= (d) shares in a subcompany of Te Ohu Kai Moana Trustee Limited that owns any of the quota listed in Schedule 1; or ======================================================================= New (majority) ----------------------------------------------------------------------- (d) shares in a subsidiary of, or a trust controlled by, Te Ohu Kai Moana Trustee Limited that owns any of the quota shares listed in Schedule 1; or ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (da) the shares in ACE Trader Limited, SafeAce Limited, Whangape Mussels Limited, and Southern Abalone Limited; or (db) any loans issued by the Treaty of Waitangi Fisheries Commission at any time to a company transferred to Aotearoa Fisheries Limited under this Act; or ----------------------------------------------------------------------- ----------------------------------------------------------------------- (e) other assets that continue to be held by Te Ohu Kai Moana Trustee Limited, including administrative and research assets and information that it reasonably needs in order to perform its functions and exercise its powers. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (4AA) To avoid doubt, subsection (3) does not limit section 50(2) or section 51(3). ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- (4A) A transfer made by the Treaty of Waitangi Fisheries Commission under subsection (2) or subsection (3) must be without charge to Aotearoa Fisheries Limited in respect of--- (a) the value of the assets; or (b) the costs associated with the transfer. ----------------------------------------------------------------------- (5) {Distributions} [The transfer] of assets by the [Treaty of Waitangi Fisheries] Commission or by Te Ohu Kai Moana Trustee Limited to Aotearoa Fisheries Limited or to a subcompany in accordance with subsections (2) and (3) are not subject to income tax, goods and services tax, gift duty, or a tax, levy, duty, or other charge imposed or provided for under the Inland Revenue Acts or any other enactment. (6) For the purposes of the Inland Revenue Acts, the value of the assets transferred under subsections (2) and (3) is included in the available subscribed capital of Aotearoa Fisheries Limited or its subcompanies. 60 {Distributions} {{[Payments] of income}} [[Payment of dividends]] by Aotearoa Fisheries Limited (1) Aotearoa Fisheries Limited may {make distributions of} [pay] {{income}} [[dividends]] only to income shareholders. (2) Aotearoa Fisheries Limited must ensure that not less than 40% of its consolidated group net profit after tax, as determined in accordance with generally accepted accounting {{principles}} [[practice]], is {distributed} [paid] annually to its income shareholders. Struck out (majority) ======================================================================= (3) Aotearoa Fisheries Limited must use its best endeavours to ensure that--- (a) the constitution of every subcompany requires distributions that will provide Aotearoa Fisheries Limited with sufficient money to enable Aotearoa Fisheries Limited to comply with subsection (2); or (b) Aotearoa Fisheries Limited is able to meet its obligations under subsection (2) by other means. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) Aotearoa Fisheries Limited must use its best endeavours to ensure that the constitution of every subcompany requires the subcompany to make payments that provide Aotearoa Fisheries Limited with sufficient money to enable Aotearoa Fisheries Limited to comply with subsection (2). (3A) If the payments from its subcompanies are insufficient to allow Aotearoa Fisheries Limited to comply with subsection (2), Aotearoa Fisheries Limited may meet its obligations under subsection (2) by other means. ----------------------------------------------------------------------- (4) In subsection (2),--- consolidated group means Aotearoa Fisheries Limited and its subcompanies consolidated group net profit after tax does not include--- (a) asset revaluations; or (b) unrealised capital gains or losses; or (c) unrealised gains or losses from financial instruments {arising from the recognition of instruments at commitment rather than at settlement date}. 61 Circumstances when {distributions} [payments] not required Section 60(2) does not apply--- (a) until Te Ohu Kai Moana Trustee Limited has made payments--- (i) under section 103(1)(a) to Te Putea Whakatupu Trustee Limited; and (ii) under section 103(1)(b) to Te Wai Maori Trustee Limited; or (b) to the extent that compliance would put Aotearoa Fisheries Limited, a subcompany, or any directors of either, in breach of any obligation under the Companies Act 1993. Subpart 4---Te Putea Whakatupu Trust and Te Putea Whakatupu Trustee Limited Establishment 62 Interpretation In this subpart and in subpart 5,--- New (majority) ----------------------------------------------------------------------- distribution means, in relation to trust income, the annual distributions made by--- (a) Te Putea Whakatupu {{Trust}} [[Trustee Limited]] under section 67(b): (b) Te Wai Maori {{Trust}} [[Trustee Limited]] under section 79(b) ----------------------------------------------------------------------- {assistance} [distribution] policy means the statement of objectives, priorities, and criteria that must be used to guide the annual distribution of trust {funds} [income] in order to meet the purpose of {{the trust}} [[Te Putea Whakatupu Trust or Te Wai Maori Trust, as the case may be]] investment plan means the proposed investment of the [trust] capital {component of trust funds} New (majority) ----------------------------------------------------------------------- trust capital means,--- (a) in the case of Te Putea Whakatupu Trust--- (i) settlement asset money transferred by Te Ohu Kai Moana Trustee Limited in accordance with section 103(1)(a); and (ii) any further payments made under section 74(5); and (b) in the case of Te Wai Maori Trust--- (i) settlement asset money transferred by Te Ohu Kai Moana Trustee Limited in accordance with sections 87(3) and 103(1)(b); and (ii) any further payments made under section 87(6) trust funds means trust capital and accumulated trust income trust income means--- (a) in the case of Te Putea Whakatupu Trust,--- (i) funds transferred under section 103(1)(e)(ii); and (ii) earnings derived from the trust capital; and (b) in the case of Te Wai Maori Trust--- (i) funds transferred under section 103(1)(e)(iii); and (ii) earnings derived from trust capital. ----------------------------------------------------------------------- 63 Establishment of Te Putea Whakatupu Trust (1) Te Ohu Kai Moana Trustee Limited must, not later than 60 [working] days after the appointed day, establish by trust deed a trust called Te Putea Whakatupu Trust. (2) Neither the rule against perpetuities nor any relevant provisions of the Perpetuities Act 1964--- (a) prescribe or restrict the period during which Te Putea Whakatupu Trust may exist in law; or (b) apply to a document entered into to give effect to the Deed of Settlement (including the trust deed required to be entered into under subsection (1)) if the application of that rule or the provisions of that Act would otherwise make a document, or a right or obligation conferred by that document, invalid or ineffective. 64 Trustee of Te Putea Whakatupu Trust (1) Te Putea Whakatupu Trust must have only 1 trustee. (2) The trustee of Te Putea Whakatupu Trust must be a company formed under the Companies Act 1993 with the name of Te Putea Whakatupu Trustee Limited. 65 Purpose of Te Putea Whakatupu Trust The purpose of Te Putea Whakatupu Trust {are} [is] to hold {settlement assets} [and manage the trust funds] on trust for and on behalf of the beneficiaries under the Deed of Settlement, in order to promote education, training, and research {{in relation to matters that include}} [[, including matters that relate to]] fisheries, fishing, and fisheries-related activities, but not in a manner that could adversely affect the charitable status (if any) of the Trust. 66 Benefits of Trust The benefits of Te Putea Whakatupu Trust must be made available as widely as possible to all Maori, having regard to--- (a) the extent to which mandated iwi organisations are providing, or are able to provide, benefits for members of their iwi that are the same or similar to those that are able to be provided by Te Putea Whakatupu Trustee Limited; and (b) the interests of Maori who--- (i) do not associate with their iwi; or (ii) do not receive benefits from a mandated iwi organisation. Struck out (majority) ======================================================================= 67 Functions of Te Putea Whakatupu Trustee Limited In achieving the purposes of Te Putea Whakatupu Trust, Te Putea Whakatupu Trustee Limited must manage settlement assets, and in doing so may undertake activities that include--- (a) promoting educational and training programmes, courses, and schemes within New Zealand for Maori, with a view to providing educational and training opportunities, including those that have application to the fishing industry: (b) funding the development of skills, including those relevant to the fishing industry for Maori: (c) promoting the advancement of Maori by--- (i) offering or funding scholarships and grants to enable Maori students to meet the entry requirements of wananga, universities, or other tertiary institutions in New Zealand or overseas; and (ii) establishing scholarships and grants, or funding wananga, universities, or other tertiary institutions in New Zealand to offer scholarships and grants, with a view to encouraging Maori to develop their education and skills: (d) promoting research and development by wananga, universities, or other tertiary institutions in New Zealand or overseas into (but not limited to)--- (i) the involvement of Maori in fishing and fisheries-related activities; and (ii) matters affecting Maori fishing: (e) facilitating access of Maori working in, or wishing to work in industry (including the fishing industry), to--- (i) education and training courses: (ii) conferences, presentations, and other learning experiences: (f) other activities that are necessary to foster or promote the activities set out in paragraphs (a) to (e). ======================================================================= New (majority) ----------------------------------------------------------------------- 67 Functions of Te Putea Whakatupu Trustee Limited In achieving the purpose of Te Putea Whakatupu Trust, Te Putea Whakatupu Trustee Limited must--- (a) manage the trust funds; and (b) distribute the annual trust income for activities that include--- (i) promoting educational and training programmes, courses, and schemes within New Zealand for Maori, with a view to providing educational and training opportunities, including those that have application to the fishing industry: (ii) funding the development of the skills of Maori, including those relevant to the fishing industry: (iii) promoting the advancement of Maori by--- (A) offering or funding scholarships and grants to enable Maori students to meet the entry requirements of wananga, universities, or other tertiary institutions in New Zealand or overseas; and (B) establishing scholarships and grants, or funding wananga, universities, or other tertiary institutions in New Zealand to offer scholarships and grants, with a view to encouraging Maori to develop their education and skills: (iv) promoting research and development by wananga, universities, or other tertiary institutions in New Zealand or overseas into (but not limited to)--- (A) the involvement of Maori in fishing and fisheries-related activities; and (B) matters affecting Maori fishing: (v) facilitating access of Maori working in, or wishing to work in industry (including the fishing industry), to--- (A) education and training courses: (B) conferences, presentations, and other learning experiences: (vi) other activities that are necessary to foster or promote the activities set out in subparagraphs (i) to (v). ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= Trust deed of Te Putea Whakatupu Trust ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Requirements for trust deed ----------------------------------------------------------------------- ----------------------------------------------------------------------- 68 Contents of trust deed of Te Putea Whakatupu Trust (1) To enable Te Putea Whakatupu Trustee Limited to carry out the purpose of Te Putea Whakatupu Trust, the trust deed must provide--- Struck out (majority) ======================================================================= (a) that Te Putea Whakatupu Trustee Limited must have 3 directors; and (b) that Te Ohu Kai Moana Trustee Limited must appoint, in accordance with the requirements specified in section 69, and may remove, the directors of Te Putea Whakatupu Trustee Limited; and (c) that a director--- (i) is appointed for a term not exceeding 4 years; and (ii) may be reappointed for 1 further term; and (iii) continues in office after the expiry of his or her term until his or her successor is appointed; and (d) for the remuneration of the directors of Te Putea Whakatupu Trustee Limited; and ======================================================================= New (majority) ----------------------------------------------------------------------- (d) that the directors of Te Putea Whakatupu Trustee Limited are entitled to be paid fees and reimbursing allowances or actual and reasonable expenses in accordance with the provisions included in the annual plan of Te Ohu Kai Moana Trustee Limited under section 25A(f) and (g); and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (e) arrangements for the administrative services to be available for the board of Te Putea Whakatupu Trustee Limited; and ======================================================================= New (majority) ----------------------------------------------------------------------- (e) for the powers of investment of the directors of Te Putea Whakatupu Trustee Limited (and any prohibited investments); and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (f) for the directors of Te Putea Whakatupu Trustee Limited to prepare, and obtain the approval of Te Ohu Kai Moana Trustee Limited for, an annual plan that includes the assistance policy; and any investment plan of Te Putea Whakatupu Trustee Limited; and ======================================================================= (g) for the manner in which the trust deed may be varied and any restrictions on the way it may be varied; and Struck out (majority) ======================================================================= (h) for the powers of investment of the directors of Te Putea Whakatupu Trustee Limited (and any prohibited investments); and ======================================================================= (i) that the directors of Te Putea Whakatupu Trustee Limited may--- (i) make {grants of assistance} [distributions] to Maori, {recognised iwi organisations,} mandated iwi organisations, and {representative} [other] Maori organisations for the purpose{s} of {the} [Te Putea Whakatupu] Trust, subject to any conditions stated in the trust deed or specified by the directors; and (ii) decline to make {grants of assistance} [distributions] if they consider that, in a particular case, the iwi concerned can or should be able to provide similar benefits to its members from income derived from settlement assets; and New (majority) ----------------------------------------------------------------------- (iii) in relation to any trust income not distributed in a financial year, determine a policy for capitalising, carrying forward, or creating reserves from, that income; and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (j) that the directors of Te Putea Whakatupu Trustee Limited must--- (i) arrange for an independent interim assessment of Te Putea Whakatupu Trust in accordance with section 73; and (ii) specify a procedure for the assessment; and ======================================================================= New (majority) ----------------------------------------------------------------------- (j) for the directors to commission an audit of Te Putea Whakatupu Trustee Limited under section 89; and ----------------------------------------------------------------------- (k) for the circumstances when Te Putea Whakatupu Trust may be terminated; and (l) on termination of that Trust, for the {distribution of the assets of the trust, including capital and accumulated income,} [payment of the trust funds,] in the percentages specified in column 3 {of Part 1} of Schedule 3,--- (i) to each mandated iwi organisation that has charitable status; or (ii) in the case of a mandated iwi organisation that does not have charitable status, to an entity with charitable status nominated by the mandated iwi organisation to benefit the relevant iwi and its members; or (iii) if no mandated iwi organisation exists or no nomination is made under subparagraph (ii), to an entity with charitable status nominated by Te Ohu Kai Moana Trustee Limited to benefit the relevant iwi and its members. (2) The trust deed must prohibit Te Putea Whakatupu Trustee Limited from--- (a) undertaking any business other than what is necessary for the purpose of the Trust; and (b) from expending or distributing [trust] capital[, except on termination of the trust]. (3) The trust deed may--- (a) include any other matter that is not inconsistent with this Act or the constitution of Te Putea Whakatupu Trustee Limited; and (b) be amended subject to--- (i) the purpose of Te Putea Whakatupu Trust: (ii) the manner of its variation and any restrictions specified in the trust deed: (iii) the constitution of Te Putea Whakatupu Trustee Limited: (iv) this Act. New (majority) ----------------------------------------------------------------------- (4) A provision of the trust deed or an amendment to it has no effect to the extent that it is inconsistent with this Act {{or another enactment or rule of law}}. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 68A Annual plan of Te Putea Whakatupu Trustee Limited The trust deed of Te Putea Whakatupu Trust must require Te Putea Whakatupu Trustee Limited to prepare, and obtain the approval of Te Ohu Kai Moana Trustee Limited for, an annual plan that includes--- (a) the distribution policy of Te Putea Whakatupu Trustee Limited; and (b) any investment plan of Te Putea Whakatupu Trustee Limited; and (c) the budget for Te Putea Whakatupu Trustee Limited; and (d) the administrative services available to Te Putea Whakatupu Trustee Limited. ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= 69 Requirements for appointment of directors (1) The trust deed of Te Putea Whakatupu Trust must specify that the directors of Te Putea Whakatupu Trustee Limited must all be Maori who, collectively,--- (a) are well versed in matters of tikanga Maori; and (b) are experienced in working with Maori and Maori organisations; and (c) have expertise and experience in human resource development, education, and training. (2) In appointing the directors of Te Putea Whakatupu Trustee Limited, Te Ohu Kai Moana Trustee Limited must consult with the National Urban Maori Authority in order to ensure that the directors have knowledge of, and are able to represent, the interests of Maori who reside in urban areas [of New Zealand]. New (majority) ----------------------------------------------------------------------- (3) Subsection (2) does not limit the power of Te Ohu Kai Moana Trustee Limited to consider the views of any other person or organisation that it considers appropriate. ----------------------------------------------------------------------- ======================================================================= ======================================================================= 70 Reporting obligations of Te Putea Whakatupu Trustee Limited (1) The trust deed of Te Putea Whakatupu Trust must set out the following reporting, accounting, and auditing obligations of Te Putea Whakatupu Trustee Limited: (a) the directors of Te Putea Whakatupu Trustee Limited must report to Te Ohu Kai Moana Trustee Limited within 4 months after the end of each financial year on--- (i) the performance of Te Putea Whakatupu Trustee Limited, assessed against its approved annual plan; and (ii) {assistance funding granted} [distributions made] by Te Putea Whakatupu Trustee Limited, assessed against its {approved assistance} [distribution] policy; and (iii) investments made (if any) and returns on investments (if any); and (iv) any matter required by Te Ohu Kai Moana Trustee Limited in order to meet its reporting obligations; and (b) the directors of Te Putea Whakatupu Trustee Limited must keep separate accounts for[, and report separately on]--- (i) the {payment of grants of assistance} [distributions made by Te Putea Whakatupu Trustee Limited]; and (ii) the cost of administering Te Putea Whakatupu Trust; and (iii) the cost of administering the {grants of assistance} [distributions;] and (iv) {remuneration} [the fees (in bands of $10,000)] and reimbursing allowances [or actual and reasonable expenses] paid to [the] directors [of Te Putea Whakatupu Trustee Limited]; and New (majority) ----------------------------------------------------------------------- (v) contracts for service entered into by Te Putea Whakatupu Trustee Limited or any of its directors; and ----------------------------------------------------------------------- (c) the directors must ensure that the accounts [of Te Putea Whakatupu Trust] are audited annually. (2) This section does not limit any reporting obligations of Te Putea Whakatupu Trustee Limited arising under any enactment or rule of law. Struck out ======================================================================= ======================================================================= [Constitution of] Te Putea Whakatupu Trustee Limited ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Requirements for constitution ----------------------------------------------------------------------- ----------------------------------------------------------------------- 71 Constitution of Te Putea Whakatupu Trustee Limited (1) Te Putea Whakatupu Trustee Limited must have--- (a) only 1 share that--- (i) has no distribution rights; and (ii) must be held by {the chairperson of} the board of Te Ohu Kai Moana Trustee Limited; and (b) a constitution that is consistent with this Act. (2) The constitution must provide--- (a) that the {company's capacity} [role of Te Putea Whakatupu Trustee Limited] is restricted to acting as the trustee of Te Putea Whakatupu Trust; and New (majority) ----------------------------------------------------------------------- (ab) that Te Putea Whakatupu Trustee Limited must have 3 directors; and (ac) that Te Ohu Kai Moana Trustee Limited must appoint, in accordance with the criteria specified in section 69, and may remove, the directors of Te Putea Whakatupu Trustee Limited; and (ad) that a director--- (i) is appointed for a term not exceeding 4 years; and (ii) may be reappointed for 1 further term; and (iii) continues in office after the expiry of his or her term until his successor is appointed; and (ae) that an extraordinary vacancy of a director does not create a breach of the constitution, so long as Te Ohu Kai Moana Trustee Limited appoints a new director within 3 months of the vacancy arising; and ----------------------------------------------------------------------- (b) a method by which the board of Te Putea Whakatupu Trustee Limited must address conflicts of interest that may arise for its directors; and Struck out (majority) ======================================================================= (c) procedures for meetings of the directors, including a procedure for the appointment of an alternate for a director to attend and vote at meetings on behalf of that director; and ======================================================================= New (majority) ----------------------------------------------------------------------- (c) that Te Putea Whakatupu Trustee Limited may regulate its own procedure, so long as it provides that--- (i) the quorum is 3 for the purpose of transacting any business; and (ii) a meeting may be conducted by teleconference or by any means of communication that allows each director to participate effectively in the proceedings; and (ca) a procedure for amending the constitution; and ----------------------------------------------------------------------- (d) that {the company} [Te Putea Whakatupu Trustee Limited] may be put into voluntary liquidation only if Te Putea Whakatupu Trust is terminated. New (majority) ----------------------------------------------------------------------- (3) A provision of the constitution of Te Putea Whakatupu Trustee Limited or an amendment to it has no effect to the extent that it is inconsistent with this Act or another enactment or rule of law. ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Directors 71A Requirements for appointment of directors (1) The constitution of Te Putea Whakatupu Trustee Limited must specify that the directors of Te Putea Whakatupu Trustee Limited must all be Maori who, collectively,--- (a) are well versed in matters of tikanga Maori; and (b) are experienced in working with Maori and Maori organisations; and (c) have expertise and experience in human resource development, education, and training. (2) In appointing the directors of Te Putea Whakatupu Trustee Limited, Te Ohu Kai Moana Trustee Limited must consult with the National Urban Maori Authority in order to ensure that the directors have knowledge of, and are able to represent, the interests of Maori who reside in urban areas of New Zealand. (3) Subsection (2) does not limit the power of Te Ohu Kai Moana Trustee Limited to consider the views of any other person or organisation that it considers has knowledge that is relevant to the interests of Maori who live in urban areas. ----------------------------------------------------------------------- ----------------------------------------------------------------------- 72 Eligibility for office of director (1) Not more than 1 director of Te Ohu Kai Moana Trustee Limited may [also] be a director of Te Putea Whakatupu Trustee Limited. New (majority) ----------------------------------------------------------------------- (1A) However, if a director of Te Putea Whakatupu Trustee Limited is a director of Te Ohu Kai Moana Trustee Limited, then that director's alternate may also be a director of Te Ohu Kai Moana Trustee Limited. ----------------------------------------------------------------------- (2) A person who is a director of Te Putea Whakatupu Trustee Limited is not eligible to be, at the same time, a director of--- (a) Aotearoa Fisheries Limited; or (b) a subcompany {of Aotearoa Fisheries Limited}; or (c) Te Wai Maori Trustee Limited. New (majority) ----------------------------------------------------------------------- (2A) A person who is a director of an entity listed in subsection (2) must resign as a director of that entity within 5 working days if he or she becomes a director of Te Putea Whakatupu Trustee Limited. ----------------------------------------------------------------------- (3) A person who is, or who has been within the previous 2 years, a member or alternate member of Te Kawai Taumata is not eligible for appointment as a director of Te Putea Whakatupu Trustee Limited. New (majority) ----------------------------------------------------------------------- (4) Neither the chairperson nor the deputy chairperson of Te Ohu Kai Moana Trustee Limited or Te Putea Whakatupu Trustee Limited may, at the same time, be the chairperson or deputy chairperson of the other. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= Interim assessment 73 Interim assessment of Te Putea Whakatupu Trust (1) Not later than 6 years after the establishment of Te Putea Whakatupu Trust, Te Putea Whakatupu Trustee Limited must arrange for an independent interim assessment of the performance of Te Putea Whakatupu Trust to determine whether the purposes of the Trust could be better achieved by changes to operational processes or by other means. (2) In conducting an assessment under subsection (1), the assessor must consider--- (a) the nature and extent of grants made by Te Putea Whakatupu Trustee Limited; and (b) the success or otherwise of Te Putea Whakatupu Trustee Limited in working co-operatively with mandated iwi organisations, recognised Maori organisations, and other Maori organisations to enhance the benefits of the assistance policy and of particular grants made under it. (3) Te Putea Whakatupu Trustee Limited must provide the assessor's final report to Te Ohu Kai Moana Trustee Limited, together with the recommendations of Te Putea Whakatupu Trustee Limited on the issues raised in the report. (4) Te Ohu Kai Moana Trustee Limited must--- (a) consider the report and decide what changes (if any) are necessary to the recommendations of Te Putea Whakatupu Trustee Limited; and (b) inform Te Putea Whakatupu Trustee Limited of its decision; and (c) after taking into account any response from Te Putea Whakatupu Trustee Limited, make available a report on its decisions to the parties that Te Ohu Kai Moana Trustee Limited considers are likely to be affected by the decision; and (d) direct Te Putea Whakatupu Trustee Limited to make changes to its trust deed necessary to implement the decisions of Te Ohu Kai Moana Trustee Limited. (5) Information sought by or on behalf of the assessor for the purpose of an interim assessment must be provided promptly by the person or entity that has or controls the information, or to which that person or entity is contractually entitled, or which can be obtained by the person or entity by reasonable effort. ======================================================================= Payments 74 Payments to Te Putea Whakatupu Trustee Limited (1) Te Ohu Kai Moana Trustee Limited must pay the settlement asset money to Te Putea Whakatupu Trustee Limited, as provided for by section 103(1)(a), to be held on trust for the {purposes specified in section 65} [purpose of Te Putea Whakatupu Trust]. (2) Te Ohu Kai Moana Trustee Limited must comply with the obligation under subsection (1) on a date to be determined by Te Ohu Kai Moana Trustee Limited in its discretion, but not later than 31 October 2009. Struck out (majority) ======================================================================= (3) Before the date of payment referred to in subsection (2), Te Ohu Kai Moana Trustee Limited must fund, to a maximum of $1 million in each financial year, the activities undertaken by Te Putea Whakatupu Trustee Limited in accordance with the annual plan approved by Te Ohu Kai Moana Trustee Limited, including the sum required to cover directors' fees and administrative costs. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) Subject to the limit specified in section 103(1)(e)(ii), Te Ohu Kai Moana Trustee Limited must, before the date of payment referred to in subsection (2), fund the activities undertaken by Te Putea Whakatupu Trustee Limited, to a maximum of $1 million in each financial year (including directors' fees provided for under section 68(1)(d) and administrative costs provided for under section 68A(c) and (d)), in accordance with the annual plan of Te Putea Whakatupu Trustee Limited approved by Te Ohu Kai Moana Trustee Limited. ----------------------------------------------------------------------- (4) After the date of the payment referred to in subsection (2), no further amounts are payable by Te Ohu Kai Moana Trustee Limited under subsection (3). (5) Te Ohu Kai Moana Trustee Limited may {distribute} [make payments of] other money as [trust] capital to Te Putea Whakatupu Trustee Limited, {in accordance with section 103(3), to the extent that that provision applies} [subject to the conditions specified in section 103(3) (if that provision applies)]. (6) Te Putea Whakatupu Trustee Limited is not entitled to [receive] allocations of settlement quota or income shares from Te Ohu Kai Moana Trustee Limited. Subpart 5---Te Wai Maori Trust and Te Wai Maori Trustee Limited Establishment 75 Interpretation In this subpart,--- freshwater fisheries means any fishery {that is associated with any} [in] freshwater {species that is indigenous to} [in] New Zealand, [excluding any sports fishery or unwanted aquatic life or activities conducted under the Freshwater Fish Farming Regulations 1983] freshwater fishing means fishing activity in relation to {a} freshwater {fishery.} [fisheries] New (majority) ----------------------------------------------------------------------- sports fish has the meaning given to it in section 2(1) of the Conservation Act 1987 unwanted aquatic life has the meaning given to it in section 2(1) of the Fisheries Act 1996. ----------------------------------------------------------------------- 76 Establishment of Te Wai Maori Trust (1) Te Ohu Kai Moana Trustee Limited must, not later than 60 [working] days after the appointed day, establish by trust deed a trust called Te Wai Maori Trust. (2) Neither the rule against perpetuities nor any relevant provisions of the Perpetuities Act 1964--- (a) prescribe or restrict the period during which Te Wai Maori Trust may exist in law; or (b) apply to a document entered into to give effect to the Deed of Settlement (including the trust deed required to be entered into under subsection (1)) if the application of that rule or the provisions of that Act would otherwise make a document, or a right or obligation conferred by that document, invalid or ineffective. 77 Trustee of Te Wai Maori Trust (1) Te Wai Maori Trust must have only 1 trustee. (2) The trustee of Te Wai Maori Trust must be a company formed under the Companies Act 1993 with the name of Te Wai Maori Trustee Limited. 78 Purpose of Te Wai Maori Trust The purpose of Te Wai Maori Trust {are} [is] to hold {settlement assets} [and manage the trust funds] on trust for and on behalf of the beneficiaries under the Deed of Settlement, in order to advance Maori interests in freshwater fisheries, but not in a manner that could adversely affect the charitable status (if any) of the Trust. Struck out (majority) ======================================================================= 79 Functions of Te Wai Maori Trustee Limited (1) In achieving the purposes of Te Wai Maori Trust, Te Wai Maori Trustee Limited must manage settlement assets, and in doing so may undertake activities that include--- (a) undertaking or funding research, development, and education related to Maori interests in freshwater fishing; and (b) promoting the protection and enhancement of freshwater fisheries habitat in lakes, rivers, and other water bodies, particularly those which have traditionally supported iwi and been the location for marae of iwi; and (c) using its resources to bring direct or indirect benefit to Maori in respect of their freshwater fishing interests. (2) Te Wai Maori Trustee Limited may make grants of assistance to Maori, mandated iwi organisations, or other Maori organisations in accordance with the provisions of the trust deed of Te Wai Maori Trust and as provided for by section 81. ======================================================================= New (majority) ----------------------------------------------------------------------- 79 Functions of Te Wai Maori Trustee Limited In achieving the purpose of Te Wai Maori Trust, Te Wai Maori Trustee Limited must--- (a) manage the trust funds; and (b) distribute the annual trust income for activities that include--- (i) undertaking or funding research, development, and education related to Maori interests in freshwater fishing; and (ii) promoting the protection and enhancement of freshwater fisheries habitat in lakes, rivers, and other water bodies, particularly those that have traditionally supported iwi and {{have been the location for}} [[whose shores have been the location of]] their marae; and (iii) promoting the establishment of freshwater fisheries; and (iv) using its resources to bring direct or indirect benefit to Maori in respect of their freshwater fishing interests. ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= Trust deed of Te Wai Maori Trust ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Requirements for trust deed ----------------------------------------------------------------------- ----------------------------------------------------------------------- 80 Contents of trust deed [of Te Wai Maori Trust] (1) To enable Te Wai Maori Trustee Limited to carry out the purpose of Te Wai Maori Trust, the trust deed must provide--- Struck out (majority) ======================================================================= (a) that Te Wai Maori Trustee Limited must have 3 directors; and (b) that Te Ohu Kai Moana Trustee Limited must appoint, in accordance with the criteria specified in section 82, and may remove the directors of Te Wai Maori Trustee Limited; and (c) that a director--- (i) is appointed for a term not exceeding 4 years; and (ii) may be reappointed for 1 further term; and (iii) continues in office after the expiry of his or her term until his or her successor is appointed; and (d) for the remuneration of the directors of Te Wai Maori Trustee Limited; and ======================================================================= New (majority) ----------------------------------------------------------------------- (d) that the directors of Te Wai Maori Trustee Limited are entitled to be paid fees and reimbursing allowances or actual and reasonable expenses in accordance with the provisions included in the annual plan of Te Ohu Kai Moana Trustee Limited under section 25A(f) and (g); and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (e) arrangements for the administrative services to be available for the board of Te Wai Maori Trustee Limited; and ======================================================================= New (majority) ----------------------------------------------------------------------- (e) for the powers of investment of the directors of Te Wai Maori Trustee Limited (and any prohibited investments); and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (f) for the directors of Te Wai Maori Trustee Limited to prepare, and obtain the approval of Te Ohu Kai Moana Trustee Limited for, an annual plan that includes the assistance policy and any investment plan of Te Wai Maori Trustee Limited; and ======================================================================= (g) for the manner in which the trust deed may be varied and any restrictions on the way it may be varied; and Struck out (majority) ======================================================================= (h) for the powers of investment of the directors of Te Wai Maori Trustee Limited (and any prohibited investments); and (i) that the directors of Te Wai Maori Trustee Limited must--- (i) arrange for an independent interim assessment of the Trust in accordance with section 84; and (ii) specify a procedure for the assessment; and ======================================================================= New (majority) ----------------------------------------------------------------------- (i) for the directors to commission an audit of Te Wai Maori Trustee Limited under section 89; and ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (j) for the circumstances when grants of assistance may be made in accordance with section 81; and ======================================================================= New (majority) ----------------------------------------------------------------------- (j) for the directors to determine--- (i) the circumstances when distributions may be made in accordance with section 81; and (ii) in relation to any trust income not distributed in a financial year, a policy for capitalising, carrying forward, or creating reserves from that income; and ----------------------------------------------------------------------- (k) for the circumstances when {the} [Te Wai Maori] Trust may be terminated; and (l) on termination of that Trust, for the {distribution of the assets of the Trust, including capital and accumulated income,} [payment of the trust funds,] in the percentages specified in column 3 {of Part 1} of Schedule 3,--- (i) to each mandated iwi organisation that has charitable status; or (ii) in the case of a mandated iwi organisation that does not have charitable status, to an entity with charitable status nominated by the mandated iwi organisation, for the benefit of the relevant iwi and its members; or (iii) if no mandated iwi organisation exists or no nomination is made under subparagraph (ii), to an entity with charitable status nominated by Te Ohu Kai Moana Trustee Limited to benefit the relevant iwi and its members. (2) The trust deed must prohibit Te Wai Maori Trustee Limited from--- (a) undertaking any business other than what is necessary for the purpose of the Trust; and (b) from expending or distributing [trust] capital[, except on termination of the trust]. (3) The trust deed may--- (a) include any other matter that is not inconsistent with this Act or the constitution of Te Wai Maori Trustee Limited; and (b) be amended, subject to--- (i) the purpose of {the} [Te Wai Maori] Trust: (ii) the manner of its variation and any restrictions specified in the trust deed: (iii) the constitution of Te Wai Maori Trustee Limited: (iv) this Act. New (majority) ----------------------------------------------------------------------- (4) A provision of the trust deed or an amendment to it has no effect to the extent that it is inconsistent with this Act {{or another enactment or rule of law}}. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 80A Annual plan of Te Wai Maori Trustee Limited The trust deed of Te Wai Maori Trust must require Te Wai Maori Trustee Limited to prepare, and obtain the approval of Te Ohu Kai Moana Trustee Limited for, an annual plan that includes--- (a) the distribution policy of Te Wai Maori Trustee Limited; and (b) any investment plan of Te Wai Maori Trustee Limited; and (c) the budget for Te Wai Maori Trustee Limited; and (d) the administrative services available to Te Wai Maori Trustee Limited. ----------------------------------------------------------------------- 81 {Grants of assistance} [Distributions of trust income] (1) The directors of Te Wai Maori Trustee Limited may make {grants of assistance} [distributions] to Maori, mandated iwi organisations, and other Maori organisations for the purpose of {the} [Te Wai Maori] Trust, subject to any conditions {stated in} [provided for by] the trust deed {or specified by the directors}. (2) Before making a {grant of assistance,} [distribution,] the directors must take into account the extent to which--- (a) a proposal will assist in co-ordinating and consolidating the activities of {mandated iwi organisations, Maori, or agencies involved in freshwater fisheries and habitat management} [the recipients with the activities of agencies involved in freshwater fisheries and habitat management;] and (b) a proposal provides a model that is able to be applied by the groups referred to in subsection (1); and Struck out (majority) ======================================================================= (c) mandated iwi organisations provide, or are able to provide, from income derived from settlement assets, benefits that are the same as or similar to those provided by Te Wai Maori Trustee Limited for their members; and ======================================================================= New (majority) ----------------------------------------------------------------------- (c) the activities proposed to be undertaken with the distribution are being undertaken by other mandated iwi organisations or agencies; and ----------------------------------------------------------------------- (d) the functions of Te Wai Maori Trustee Limited are being undertaken by other agencies. Struck out (majority) ======================================================================= 82 Criteria for appointment of directors The trust deed of Te Wai Maori Trust must specify that the following criteria apply to the appointment of the directors of Te Wai Maori Trustee Limited: (a) the directors must all be Maori who, collectively,--- (i) are well versed in matters of tikanga Maori; and (ii) are experienced in working with Maori and Maori organisations; and (iii) are experienced in fisheries management, enhancement, and development; and (iv) have expertise and experience in matters relevant to freshwater fisheries; and (b) the directors must be appointed having regard to the need to appoint directors who represent iwi that have a special interest in freshwater fisheries. ======================================================================= 83 Reporting obligations of Te Wai Maori Trustee Limited (1) The trust deed of Te Wai Maori Trust must set out the following reporting, accounting, and auditing obligations of Te Wai Maori Trustee Limited: (a) the directors of Te Wai Maori Trustee Limited must report to Te Ohu Kai Moana Trustee Limited within 4 months after the end of each financial year on--- (i) the performance of Te Wai Maori Trustee Limited, assessed against its approved annual plan; and (ii) {assistance funding granted} [distributions made] by Te Wai Maori Trustee Limited, assessed against {its approved assistance} [the distribution] policy; and (iii) investments made (if any) and returns on investments (if any); and (iv) any matter required by Te Ohu Kai Moana Trustee Limited in order to meet its reporting obligations; and (b) the directors of Te Wai Maori Trustee Limited must keep separate accounts for, [and report separately on,]--- (i) the {payment of grants of assistance} [distributions made by Te Wai Maori Trustee Limited]; and (ii) the cost of administering {the} [Te Wai Maori] Trust; and (iii) the cost of administering the {grants of assistance} [distributions;] and (iv) the {remuneration} [fees (in bands of $10,000)] and reimbursing allowances [or actual and reasonable expenses] paid to [the] directors [of Te Wai Maori Trustee Limited]; and New (majority) ----------------------------------------------------------------------- (v) contracts for service entered into by Te Wai Maori Trustee Limited or any of its directors; and ----------------------------------------------------------------------- (c) the directors must ensure that the accounts [of Te Wai Maori Trust] are audited annually. (2) This section does not limit any reporting obligations of Te Wai Maori Trustee Limited arising under any enactment or rule of law. Struck out (majority) ======================================================================= Interim assessment 84 Interim assessment of Te Wai Maori Trust Section 73 applies to an independent interim assessment of Te Wai Maori Trust as if the references in that section--- (a) to Te Putea Whakatupu Trust were references to Te Wai Maori Trust; and (b) to Te Putea Whakatupu Trustee Limited were references to Te Wai Maori Trustee Limited. ======================================================================= Struck out ======================================================================= ======================================================================= [Constitution of] Te Wai Maori Trustee Limited ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Requirements for constitution ----------------------------------------------------------------------- ----------------------------------------------------------------------- 85 Constitution of Te Wai Maori Trustee Limited (1) Te Wai Maori Trustee Limited must have--- (a) only 1 share that--- (i) has no distribution rights; and (ii) must be held by {the chairperson of} the board of Te Ohu Kai Moana Trustee Limited; and (b) a constitution that is consistent with this Act. (2) The constitution must provide--- (a) that the {company's capacity} [role of Te Wai Maori Trustee Limited] is restricted to acting as the trustee of Te Wai Maori Trust; and New (majority) ----------------------------------------------------------------------- (ab) that Te Wai Maori Trustee Limited must have 3 directors; and (ac) that Te Ohu Kai Moana Trustee Limited must appoint, in accordance with the criteria specified in section 85A, and may remove the directors of Te Wai Maori Trustee Limited; and (ad) that a director--- (i) is appointed for a term not exceeding 4 years; and (ii) may be reappointed for 1 further term; and (iii) continues in office after the expiry of his or her term until his successor is appointed; and (ae) that an extraordinary vacancy of a director does not create a breach of the constitution, so long as Te Ohu Kai Moana Trustee Limited appoints a new director within 3 months of the vacancy arising; and ----------------------------------------------------------------------- (b) a method by which the board of Te Wai Maori Trustee Limited must address conflicts of interest that may arise for its directors; and Struck out (majority) ======================================================================= (c) procedures for meetings of the directors, including a procedure for the appointment of an alternate for a director to attend and vote at meetings on behalf of that director; and ======================================================================= New (majority) ----------------------------------------------------------------------- (c) that Te Wai Maori Trustee Limited may regulate its own procedure, so long as it provides that--- (i) the quorum is 3 for the purpose of transacting any business; and (ii) a meeting may be conducted by teleconference or by any means of communication that allows each director to participate effectively in the proceedings; and (ca) a procedure for amending the constitution; and ----------------------------------------------------------------------- (d) that {the company} [Te Wai Maori Trustee Limited] may be put into [voluntary] liquidation only if Te {Wai Maori} [Putea Whakatupu] Trust is terminated. New (majority) ----------------------------------------------------------------------- (3) A provision of the constitution of Te Wai Maori Trustee Limited or an amendment to it has no effect to the extent that it is inconsistent with this Act or another enactment or rule of law. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Directors ----------------------------------------------------------------------- ----------------------------------------------------------------------- 85A Criteria for appointment of directors The constitution of Te Wai Maori Trustee Limited must specify that the directors of Te Wai Maori Trustee Limited must all be Maori who, collectively,--- (a) are well versed in matters of tikanga Maori; and (b) are experienced in working with Maori and Maori organisations; and (c) are experienced in fisheries management, enhancement, and development; and (d) have expertise and experience in matters relevant to freshwater fisheries; and (e) have knowledge of the special interest of iwi in freshwater fisheries. ----------------------------------------------------------------------- 86 Eligibility for office of director (1) Not more than 1 director of Te Ohu Kai Moana Trustee Limited may [also] be a director of Te Wai Maori Trustee Limited. New (majority) ----------------------------------------------------------------------- (1A) However, if a director of Te Wai Maori Trustee Limited is a director of Te Ohu Kai Moana Trustee Limited, that director's alternate may also be a director of Te Ohu Kai Moana Trustee Limited. ----------------------------------------------------------------------- (2) A person who is a director of Te Wai Maori Trustee Limited is not eligible to be, at the same time, a director of--- (a) Aotearoa Fisheries Limited; or (b) a subcompany {of Aotearoa Fisheries Limited}; or (c) Te Putea Whakatupu Trustee Limited. New (majority) ----------------------------------------------------------------------- (2A) A person who is a director of an entity listed in subsection (2) must resign as a director of that entity within 5 working days if he or she becomes a director of Te Wai Maori Trustee Limited. ----------------------------------------------------------------------- (3) A person who is, or who has been within the previous 2 years, a member or alternate member of Te Kawai Taumata is not eligible for appointment as a director of Te Wai Maori Trustee Limited. New (majority) ----------------------------------------------------------------------- (4) Neither the chairperson nor the deputy chairperson of Te Ohu Kai Moana Trustee Limited or Te Wai Maori Trustee Limited may, at the same time, be the chairperson or deputy chairperson of the other. ----------------------------------------------------------------------- Payments 87 Payments to Te Wai Maori Trustee Limited (1) Te Ohu Kai Moana Trustee Limited must pay to Te Wai Maori Trustee Limited the settlement asset money, as provided for by section 103(1)(b), to be held on trust for the {purposes specified in section 78} [purpose of Te Wai Maori Trust]. (2) Te Ohu Kai Moana Trustee Limited must comply with the obligation under subsection (1) on a date to be determined by Te Ohu Kai Moana Trustee Limited in its discretion, but not later than 31 October 2009. Struck out (majority) ======================================================================= (3) Te Ohu Kai Moana Trustee Limited must pay not less than $1 million per year after the date referred to in subsection (2), until Te Wai Maori Trustee Limited has received a total of $20 million from Te Ohu Kai Moana Trustee Limited (excluding sums referred to in subsection (4)). ======================================================================= New (majority) ----------------------------------------------------------------------- (3) After the date of payment referred to in subsection (2), Te Ohu Kai Moana Trustee Limited must pay not less than $1 million per year, until Te Wai Maori Trustee Limited has received in total the sum of $20 million (including the sum referred to in subsection (1)) from Te Ohu Kai Moana Trustee Limited (but excluding the sums referred to in subsection (4)). ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (4) Before the date of payment referred to in subsection (2), Te Ohu Kai Moana Trustee Limited must fund the activities undertaken by Te Wai Maori Trustee Limited in accordance with the annual plan approved by Te Ohu Kai Moana Trustee Limited, including the sum required to cover directors' fees and administrative costs. ======================================================================= New (majority) ----------------------------------------------------------------------- (4) Subject to the limit specified in section 103(1)(e)(iii), Te Ohu Kai Moana Trustee Limited must, before the date of payment referred to in subsection (2), fund the activities undertaken by Te Wai Maori Trustee Limited (including directors' fees provided for under section 80(1)(d) and administrative costs provided for under section 80A(c) and (d)), in accordance with the annual plan of Te Wai Maori Trustee Limited approved by Te Ohu Kai Moana Trustee Limited. ----------------------------------------------------------------------- (5) After the date of payment referred to in subsection (2), no further amounts are payable by Te Ohu Kai Moana Trustee Limited under subsection (4). (6) {However,} Te Ohu Kai Moana Limited may {distribute} [make payments of] other money as [trust] capital to Te Wai Maori Trustee Limited, {in accordance with section 103(3), to the extent that that provision applies} [subject to the conditions specified in section 103(3) (if that provision applies)]. (7) Te Wai Maori Trustee Limited is not entitled to [receive] allocations of settlement quota or income shares from Te Ohu Kai Moana Trustee Limited. Subpart 6---[Audits and] reviews Struck out (majority) ======================================================================= 88 Purpose of this subpart The purpose of this subpart is to provide for--- (a) independent reviews to be conducted of certain entities set up under this Act, including review of the rules and processes regulating those entities; and (b) the process for conducting the reviews. ======================================================================= Struck out (majority) ======================================================================= Requirement for reviews 89 Initial review As soon as is reasonably practicable after the date that is 12 years from the commencement of this Act, Te Ohu Kai Moana Trustee Limited must commission an independent review to be conducted--- (a) for the purposes set out in section 91; and (b) in accordance with this subpart. ======================================================================= Struck out (majority) ======================================================================= 90 Subsequent reviews (1) After the review provided for in section 89, Te Ohu Kai Moana Trustee Limited must commission subsequent independent reviews to be conducted--- (a) for the purposes set out in section 91, unless it has been decided, following a recommendation under section 98(e), to conduct a restricted review; and (b) at intervals of not less than 5 years and not more than 10 years after the date of the previous review. (2) In subsection (1)(a), restricted review means a review involving 1 or more of the entities referred to in section 91, conducted for the purposes set out in that section. ======================================================================= Struck out (majority) ======================================================================= Purpose and scope of reviews 91 Purpose of reviews The purpose of reviews conducted under section 89 or under section 90 is to review--- (a) the governance of Te Ohu Kai Moana, Te Kawai Taumata, and Aotearoa Fisheries Limited, to ascertain whether the governance arrangements of Te Ohu Kai Moana Trustee Limited (including Te Kawai Taumata), as they affect Aotearoa Fisheries Limited, reasonably serve the interests of the beneficiaries of the Deed of Settlement; and (b) the governance arrangements of Te Ohu Kai Moana Trustee Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited, to ascertain whether those arrangements, as they affect Te Ohu Kai Moana Trustee Limited and Te Kawai Taumata in relation to the trusts, reasonably serve the interests of the beneficiaries of the Deed of Settlement; and (c) the role and performance of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited, to ascertain whether the purposes of Te Putea Whakatupu Trust and Te Wai Maori Trust are being achieved, or would be better achieved, by other means. ======================================================================= Struck out (majority) ======================================================================= 92 Scope of reviews A review conducted under section 89 or section 90 must,--- (a) in the case of Aotearoa Fisheries Limited, determine--- (i) the extent to which its commercial performance has been affected by its governance, including the shareholding structure of the company; and (ii) if the governance of Aotearoa Fisheries Limited has detrimentally affected the commercial performance of the company, whether an alternative governance arrangement would be more effective; and (b) in the case of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited, determine whether--- (i) they are reasonably serving the interests of the beneficiaries of the Deed of Settlement; and (ii) their purposes and functions would be better achieved by other means. ======================================================================= Struck out (majority) ======================================================================= 93 Review of Aotearoa Fisheries Limited In conducting a review of Aotearoa Fisheries Limited in accordance with this subpart, the reviewer must consider--- (a) the process and criteria for, and the associated costs of, appointing--- (i) the directors of Aotearoa Fisheries Limited and Te Ohu Kai Moana Trustee Limited; and (ii) the members of Te Kawai Taumata; and (b) the quality and effectiveness of the decision making processes of Te Ohu Kai Moana Trustee Limited in relation to matters affecting Aotearoa Fisheries Limited; and (c) the commercial performance of Aotearoa Fisheries Limited relative to other participants in the fishing industry, including--- (i) its dividend performance; and (ii) changes in shareholder value; and (d) the quality of reporting by Aotearoa Fisheries Limited to its income shareholders; and (e) other matters included by Te Ohu Kai Moana Trustee Limited in the terms of reference for the review. ======================================================================= Struck out (majority) ======================================================================= 94 Review of Te Putea Whakatupu Trust and Te Wai Maori Trust In conducting a review of the performance and governance of Te Putea Whakatupu Trust and Te Wai Maori Trust in accordance with this subpart, the reviewer must consider--- (a) the effect (if any) of their governance (including the process and criteria for appointing the directors of each trustee company) on the performance of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and (b) the nature and extent of the grants made by Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and (c) the success or otherwise of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited in working co-operatively with mandated iwi organisations and representative Maori organisations to enhance the benefits of the Trusts' assistance policies and particular grants made under them; and (d) in the case of Te Putea Whakatupu Trust, the extent to which the level of skilled Maori participation across all aspects of fishing and fisheries-related activities has increased; and (e) in the case of Te Wai Maori Trust, the extent to which support and encouragement for the interests of iwi and Maori in freshwater fisheries and fishing has improved; and (f) whether each Trust continues to be required for achieving the purpose of the Act, taking into account the effectiveness of mandated iwi organisations in performing the same activities; and (g) other matters included by Te Ohu Kai Moana Trustee Limited in the terms of reference for the review. ======================================================================= Struck out (majority) ======================================================================= 95 Performance of mandated iwi organisations To assist the reviewer to consider possible changes for the governance of Aotearoa Fisheries Limited, Te Putea Whakatupu Trust, and Te Wai Maori Trust, the reviewer must consider--- (a) relative to other participants in the fishing industry, the commercial performance of a sample of asset-holding entities of mandated iwi organisations and their wholly-owned fishing companies, including--- (i) their dividend performance; and (ii) changes in their shareholder value or in the net worth of the Trust; and (b) the quality of the reporting by mandated iwi organisations to iwi members, including their annual audited financial statements; and (c) the nature and level of commercial interactions, such as joint ventures or management contracts--- (i) among mandated iwi organisations; and (ii) between 1 or more mandated iwi organisations and Aotearoa Fisheries Limited; and (iii) between mandated iwi organisations and other participants in the fishing industry; and (d) the effect of restrictions on the sale of settlement quota on the commercial performance of the asset-holding entities of mandated iwi organisations; and (e) the extent to which mandated iwi organisations are taking responsibility for promoting the training and education of iwi members to increase their participation in fishing and fisheries-related activities; and (f) the extent to which relevant mandated iwi organisations are taking responsibility for supporting and encouraging the interests of iwi in freshwater fisheries and fishing. ======================================================================= Struck out (majority) ======================================================================= Procedure 96 Procedure for reviews (1) The procedure for a review conducted under section 89 or section 90 must include the following steps: (a) Te Ohu Kai Moana Trustee Limited must provide draft terms of reference to mandated iwi organisations; and (b) Te Ohu Kai Moana Trustee Limited must give mandated iwi organisations an opportunity to provide comment to Te Ohu Kai Moana Trustee Limited not later than 20 working days after receiving the draft of terms of reference; and (c) following consideration of any comments from mandated iwi organisations, Te Ohu Kai Moana Trustee Limited must, as soon as reasonably practicable, settle the terms of reference; and (d) Te Ohu Kai Moana Trustee Limited must appoint an independent reviewer after--- (i) calling for expressions of interest from appropriately qualified individuals or organisations and notifying mandated iwi organisations accordingly; and (ii) taking into account any proposals from mandated iwi organisations as to who should or should not be appointed; and (e) the reviewer must provide an opportunity, for those with an interest in the review, including mandated iwi organisations, representative Maori organisations, Te Ohu Kai Moana Trustee Limited, Te Kawai Taumata, Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited,--- (i) to discuss matters relevant to the review; and (ii) to supply the reviewer with information relevant to the review; and (f) the reviewer must provide the draft report, including recommendations, to Te Ohu Kai Moana Trustee Limited; and (g) Te Ohu Kai Moana Trustee Limited must provide comment (if any) within 20 working days; and (h) not later than 40 working days after receiving the final report (including any recommendations) from the reviewer, Te Ohu Kai Moana Trustee Limited must distribute to all mandated iwi organisations and representative Maori organisations--- (i) the reviewer's final report; and (ii) any options proposed by Te Ohu Kai Moana Trustee Limited to address the issues raised by the review; and (i) mandated iwi organisations and representative Maori organisations may, not later than 40 working days after receiving the information under paragraph (h), provide comments to Te Ohu Kai Moana Trustee Limited; and (j) Te Ohu Kai Moana Trustee Limited must, not later than 40 working days after the end of the period provided for in paragraph (i), distribute to mandated iwi organisations, representative Maori organisations, Te Kawai Taumata, Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited--- (i) its recommendations; and (ii) an implementation plan for any proposed changes; and (k) Te Ohu Kai Moana Trustee Limited must, not later than 60 working days after distributing the information required by paragraph (j), convene a meeting of mandated iwi organisations to consider the reviewer's report and any recommendations of Te Ohu Kai Moana Trustee Limited. (2) If a recommendation of the reviewer or of Te Ohu Kai Moana Trustee Limited, considered under subsection (1)(k), is supported in a subsequent postal vote by at least 75% of mandated iwi organisations representing more than 50% of the total notional iwi population specified in column 2 of Part 1 of Schedule 3, Te Ohu Kai Moana Trustee Limited must--- (a) implement that recommendation to the extent that it is consistent with this Act; and (b) if amendments to this Act are required to implement the recommendation, request the Minister to promote the necessary amendments. (3) In carrying out the process under subsection (1), Te Ohu Kai Moana Trustee Limited may seek comments from Te Kawai Taumata, Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited--- (a) on the draft terms of reference; and (b) the report of the reviewer; and (c) the options proposed by Te Ohu Kai Moana Trustee Limited under subsection (1)(h)(ii). (4) Information sought by or on behalf of the reviewer for the purpose of a review under this subpart must be provided promptly by the person or entity that has or controls the information, or to which that person or entity is contractually entitled, or which can be obtained by the person or entity by reasonable effort. ======================================================================= Struck out (majority) ======================================================================= 97 Reviewer (1) Before appointing 1 or more reviewers under section 96(1)(d), Te Ohu Kai Moana Trustee Limited must be satisfied that the candidate has fully disclosed his or her interests in the matters that are the subject of the review. (2) In carrying out a review, a reviewer must--- (a) maintain the appropriate degree of impartiality and independence; and (b) take all reasonable steps to ensure that his or her judgment is not impaired by any relationship with, or interest in, the entities subject to review. (3) In this section, interest means that the reviewer--- (a) is a party to, or will derive a material financial benefit from, a transaction or matter that is subject to review under this subpart; or (b) has a material financial interest in--- (i) an entity that is subject to review; or (ii) a transaction entered into by an entity that is subject to review; or (c) is a director, officer, member, or trustee of another party to, or a person who will or may derive a material financial benefit from, the transaction or matter; or (d) is the parent, child, spouse, or partner of another party to, or a person who will or may derive a material financial benefit from, the transaction or matter; or (e) is otherwise directly or indirectly materially interested in the transaction or matter, including by reason of being or having been a member or beneficiary of an entity that is the subject of review. ======================================================================= Struck out (majority) ======================================================================= Recommendations 98 Scope of recommendations that reviewer may make A review conducted under section 89 or section 90 may make recommendations regarding--- (a) the process and criteria for appointing--- (i) the directors of Te Ohu Kai Moana Trustee Limited, Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited; and (ii) the members of Te Kawai Taumata; and (b) the shareholding structure of Aotearoa Fisheries Limited; and (c) the purposes of Te Putea Whakatupu Trust and Te Wai Maori Trust; and (d) the functions of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited; and (e) the timing and scope of future reviews, including the ability to review only specified entities or particular matters at future reviews. ======================================================================= Struck out (majority) ======================================================================= 99 Restrictions on recommendations that reviewer may make (1) A review conducted under section 89 or section 90 must not recommend that--- (a) the income shares of Aotearoa Fisheries Limited be transferred or issued to anyone other than to--- (i) mandated iwi organisations; or (ii) Te Ohu Kai Moana Trustee Limited; or (b) Aotearoa Fisheries Limited be put into voluntary liquidation by Te Ohu Kai Moana Trustee Limited. (2) A review conducted under section 89 must not recommend changes to the restrictions on the sale of settlement quota under Part 4. (3) A review conducted under section 89 or section 90 must not recommend changes relating to the distribution of assets--- (a) on the termination of Te Ohu Kai Moana, as provided for under section 25(1)(f); or (b) on the termination of Te Putea Whakatupu Trust or Te Wai Maori Trust, as provided for under section 68(1)(l) or section 80(1)(l), as the case may be. (4) Despite subsection (2), if the reviewer finds that the restrictions on sale of quota have a detrimental effect on the performance of asset-holding entities of mandated iwi organisations or of Aotearoa Fisheries Limited, the reviewer may recommend that the restrictions be reviewed in a review to be conducted under section 100. (5) If there is a recommendation, supported in the manner required by section 96(2), that voting shares in Aotearoa Fisheries Limited should be transferred to mandated iwi organisations, the shares must be transferred in proportion to the income shareholding of each mandated iwi organisation at the date of transfer. ======================================================================= Struck out (majority) ======================================================================= 100 Review of restrictions on sale of quota (1) If a review is recommended under section 99(4), it must be conducted in accordance with this subpart. (2) The purposes of a review recommended under section 99(4) are--- (a) to assess the effect, if any, that the restrictions on the sale of settlement quota have had or are likely to have on the durability and economic value of the settlement; and (b) to recommend changes that would better secure the durability and economic value of the settlement. (3) A review recommended under section 99(4) must include--- (a) an analysis of the impact of the restrictions on the sale of settlement quota; and (b) an assessment of whether other options would better secure the durability and economic value of the settlement. ======================================================================= New (majority) ----------------------------------------------------------------------- 88 Interpretation In this subpart, unless the context otherwise requires,--- auditor means a person appointed in accordance with section 91 restrictions on the disposal of settlement assets means either or both, as the case may be,--- (a) restrictions imposed on the disposal of the income shares of Aotearoa Fisheries Limited under subpart 3 of Part 2: (b) restrictions on the disposal of settlement quota restrictions on the disposal of settlement quota means the restrictions imposed under subpart 2 of Part 4 reviewer means a person appointed in accordance with section 100E. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Audit of entities 89 Audits (1) Not later than 4 years after the commencement of this Act,--- (a) Te Ohu Kai Moana Trustee Limited must arrange for an audit of Te Ohu Kai Moana Trustee Limited; and (b) Aotearoa Fisheries Limited must arrange for an audit of Aotearoa Fisheries Limited and its subcompanies; and (c) Te Putea Whakatupu Trustee Limited must arrange for an audit of Te Putea Whakatupu Trustee Limited; and (d) Te Wai Maori Trustee Limited must arrange for an audit of Te Wai Maori Trustee Limited. (2) The cost of an audit conducted under this section or section 90 must be paid by the entity being audited. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 90 Subsequent audits Each of the entities referred to in section 89, or 2 or more jointly, must arrange for subsequent audits to be conducted not later than 4 years after the preceding audit, unless,--- (a) in the case of Te Ohu Kai Moana Trustee Limited, Te Putea Whakatupu Trustee Limited, or Te Wai Maori Trustee Limited, at least 75% of the mandated iwi organisations and representative Maori organisations at a general meeting convened by Te Ohu Kai Moana Trustee Limited, vote not to conduct an audit of 1 or more of the relevant entities; or (b) in the case of Aotearoa Fisheries Limited, the shareholders of at least 75% of the income shares vote at an annual general meeting of Aotearoa Fisheries Limited, not to conduct an audit. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 91 Person to conduct audit (1) Each of the audits referred to in sections 89 and 90 must be carried out by an independent person--- (a) appointed by the entity that is to be audited; and (b) who is appropriately qualified to conduct the audit. (2) A person appointed to conduct an audit is not required to be--- (a) a chartered accountant within the meaning of section 19 of the Institute of Chartered Accountants of New Zealand Act 1996; or (b) qualified to undertake financial audits. (3) In carrying out an audit, the person appointed must--- (a) maintain the appropriate degree of impartiality and independence; and (b) take all reasonable steps to ensure that his or her judgment is not impaired by any relationship with, or interest in, the entity subject to audit. (4) The independence of a person appointed to conduct an audit is not compromised merely because that person {{is Maori}} [[has a beneficial interest under this Act]]. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 92 General scope of audits An audit conducted under section 89 or section 90 must consider and report, in relation to the entity being audited, on--- (a) the objectives established by the board of directors of the entity; and (b) the extent to which those objectives are consistent with the effective implementation of the duties and functions of the entity under this Act or any other enactment; and (c) the progress made by the board of directors towards achieving the objectives; and (d) the policies and strategies established by the board of directors to achieve the objectives and perform the duties and functions of the board and its directors; and (e) the effectiveness of the policies and strategies referred to in paragraph (d); and (f) the quality and timeliness of the reporting documents prepared to meet the reporting obligations under this Act or another enactment. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 93 Audit of Te Ohu Kai Moana Trustee Limited In the case of an audit of Te Ohu Kai Moana Trustee Limited, the audit must consider and report on--- (a) the progress that Te Ohu Kai Moana Trustee Limited has made towards allocating and transferring settlement assets; and (b) the contribution that Te Ohu Kai Moana Trustee Limited has made towards assisting iwi to meet the requirements for recognition as mandated iwi organisations. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 94 Audit of Aotearoa Fisheries Limited (1) In the case of Aotearoa Fisheries Limited, an audit must consider and report on--- (a) the performance of Aotearoa Fisheries Limited in meeting its constitutional requirement to work cooperatively with iwi on commercial matters; and (b) the commercial performance of Aotearoa Fisheries Limited in comparison with other participants in the fishing industry, including its net profit after tax as determined in accordance with generally accepted accounting {{principles}} [[practice]], and changes in the value of the company. (2) In this section a reference to Aotearoa Fisheries Limited includes its subcompanies. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 95 Audits of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited (1) In the case of Te Putea Whakatupu Trustee Limited, an audit must consider and report on the contribution that Te Putea Whakatupu Trustee Limited has made towards promoting education, training, and research in relation to Maori involvement in fisheries, fishing, and fisheries-related activities. (2) In the case of Te Wai Maori Trustee Limited, an audit must consider and report on the contribution that Te Wai Maori Trustee Limited has made in advancing the interests of Maori in freshwater fisheries. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Procedure after completion of audit 96 Procedure for auditor and entity audited (1) As soon as practicable after conducting an audit under section 89 or section 90, the auditor must--- (a) prepare a written audit report that includes--- (i) the findings made in the audit; and (ii) the recommendations of the auditor; and (b) distribute the audit report to--- (i) each entity that is subject to audit; and (ii) to Te Ohu Kai Moana Trustee Limited, in the case of an audit of Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, or Te Wai Maori Trustee Limited. (2) Not later than 40 working days after receiving an audit report under subsection (1), each entity subject to audit must--- (a) prepare a plan specifying the actions that it intends to take to address the findings and recommendations of the audit report; and (b) provide a copy of that plan to Te Ohu Kai Moana Trustee Limited. (3) After an audit has been completed, an entity subject to audit must include in its next annual report a description of the progress it has made in addressing the matters specified in the plan prepared under subsection (2)(a). ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 97 Procedure for Te Ohu Kai Moana Trustee Limited (1) Not later than 60 working days after receiving an audit report under section 96(1), Te Ohu Kai Moana Trustee Limited must distribute to the members and alternate members of Te Kawai Taumata, to all mandated iwi organisations, and to all representative Maori organisations--- (a) the audit report; and (b) the plan prepared under section 96(2) by each entity that is subject to audit; and (c) in the case of an audit of Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, or Te Wai Maori Trustee Limited, any further plan prepared by Te Ohu Kai Moana Trustee Limited to address the findings and recommendations of the audit report. (2) At its next general meeting after it has received an audit report under section 96(1), Te Ohu Kai Moana Trustee Limited must provide for consideration of--- (a) the audit report; and (b) the plans referred to in subsection (1)(b) and (c), as relevant; and (c) any comments from mandated iwi organisations or representative Maori organisations on the audit report or any plans. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Requirement for review of entities 98 Review of entities (1) Independent reviews must be conducted in accordance with this section and sections 99 to 100K. (2) For each of the entities listed in subsection (4), the first review must be completed not later than the end of the 11th year after the commencement of this Act. (3) Subsequent reviews, which may be of 1 of the entities listed in subsection (4) or of 2 or more jointly, must be commenced--- (a) not later than {{5 years}} [[the beginning of the fifth year]] after the date of completion of the review under subsection (2), if the reviewer found, as provided for in section 100H(2), that the interests of the beneficiaries of the Deed of Settlement would be better served by changes to section 125(1) or section 129 (that restrict the disposal of settlement quota to mandated iwi organisations and Te Ohu Kai Moana Group); or (b) not sooner than {{5 years}} [[the beginning of the fifth year]] after the completion of the preceding review, if at least 75% of mandated iwi organisations agree, at a general meeting of Te Ohu Kai Moana Trustee Limited, that a review should be conducted in relation to--- (i) a specified entity or entities; or (ii) the matters set out in section 100F(1)(b). (4) The entities referred to in subsections (2) and (3) are--- (a) Te Ohu Kai Moana Trustee Limited; and (b) Aotearoa Fisheries Limited; and (c) Te Putea Whakatupu Trustee Limited; and (d) Te Wai Maori Trustee Limited. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 99 Funding of reviews (1) Te Ohu Kai Moana Trustee Limited must provide adequate funding for reviews conducted under section 98(2) and (3)(a), including--- (a) the budget for a committee of representatives; and (b) remuneration [[of the members of that committee]] for attendance at meetings and reimbursing allowances or actual and reasonable expenses to be paid to the members in undertaking their functions under this Act. (2) Mandated iwi organisations must fund reviews conducted under section 98(3)(b), in the proportion that each mandated iwi organisation represents of the notional iwi population specified in column 2 of Schedule 3, including--- (a) the budget for a committee of representatives; and (b) remuneration and reimbursing allowances or actual and reasonable expenses for the members of a committee of representatives, in accordance with the provisions included in the annual plan of Te Ohu Kai Moana Trustee Limited under section 25A(e) and (g). ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Committee of representatives 100 Committee of representatives (1) For each review conducted under section 98, a committee of representatives must be appointed. (2) A committee of representatives must consist of not more than 11 and not fewer than 6 members. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100A Appointment procedure (1) Clauses 1 and 3 of Schedule 7 apply, with the necessary modifications, to the appointment of a committee of representatives. (2) Not later than 6 months before the commencement of the {{11th}} year referred to in section 98(2), the chairperson of the board of Te Ohu Kai Moana Trustee Limited must, by written notice,--- (a) request those with responsibility under clause 1 of Schedule 7 to commence the process to appoint the members of a committee of representatives; and (b) specify the date by which the appointment of the committee of representatives must be complete, which must be not later than 60 working days after the notice is given. (3) In the case of subsequent reviews referred to in section 98(3), not later than 6 months before the commencement of a subsequent review, the chairperson of the board of Te Ohu Kai Moana Trustee Limited must give written notice, as required by subsection (2). (4) The appointments to a committee of representatives expire on the day after the date on which the review report is distributed by that committee under section 100I(2). ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100B Functions of committee of representatives (1) The only functions of a committee of representatives are--- (a) to set the terms of reference for the review in respect of which the committee has been appointed; and (b) to appoint the reviewer; and (c) to receive and distribute the review report in accordance with section 100I. (2) The committee of representatives must complete its functions in subsection (1)(a) and (b) not later than 60 working days after the date specified under section 100A(2)(b). ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100C Terms of reference (1) The terms of reference required by section 100B(1) must include--- (a) the date for the commencement of the review (which must be not later than 6 months after the date of the notice given under section 100A(2)(b)); and (b) the date by which the review report must be presented under section 100I(1) (which must be not later than 6 months after the commencement date set under paragraph (a). (2) Before finalising the terms of reference for the review, the committee of representatives must provide, for the purposes of consultation,--- (a) the draft terms of reference to--- (i) all mandated iwi organisations and representative Maori organisations; and (ii) the members of Te Kawai Taumata; and (iii) the entity under review; and (b) allow 20 working days for written comments to be provided to the committee. (3) The terms of reference must be consistent with the requirements of sections 100F to 100H. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100D Procedure and remuneration of committee of representatives (1) A committee of representatives must regulate its own procedure. (2) However,--- (a) a quorum for a meeting of a committee is 6 members; and (b) a committee must not transact business unless the quorum is present at the meeting. (3) A meeting of a committee may be conducted by teleconference or by any means of communication that allows the members of the committee to participate effectively in the proceedings. (4) As provided for in section 99, the members of a committee are entitled to receive from Te Ohu Kai Moana Trustee Limited or from mandated iwi organisations, as the case may be,--- (a) remuneration for attendance at meetings; and (b) reimbursing allowances or actual and reasonable expenses incurred in undertaking the functions of a committee of representatives. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Conduct of review 100E Reviewer (1) Every review conducted under this subpart must be carried out by an independent person--- (a) appointed by the committee of representatives; and (b) appropriately qualified to conduct the review. (2) In carrying out a review, the reviewer must--- (a) maintain the appropriate degree of impartiality and independence; and (b) take all reasonable steps to ensure that his or her judgment is not impaired by any relationship with, or interest in, the entity under review. (3) The independence of a reviewer is not compromised merely because that person has a beneficial interest under this Act. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100F Scope of review (1) Every review conducted under section 98 must consider and report on--- (a) the effect on the entity under review of the governance arrangements provided for by or under this Act as those arrangements relate to--- (i) the performance of that entity in achieving its duties and functions; and (ii) the ability of that entity to deliver benefits to the beneficiaries of the entity; and (iii) the ability of that entity to contribute to achieving the purposes of the Act; and (b) the effect of the restrictions on the disposal of settlement assets as they relate to the ability of--- (i) mandated iwi organisations (and their asset-holding companies and subsidiaries of the asset-holding companies) to deliver benefits to the members of their iwi; and (ii) Aotearoa Fisheries Limited to deliver benefits to its income shareholders; and (c) whether, without creating an inconsistency with the purposes of this Act or with the purpose of Te Ohu Kai Moana, the interests of the beneficiaries of the Deed of Settlement would be better served by changes to--- (i) the governance arrangements of an entity: (ii) the restrictions on the disposal of settlement assets. (2) In this section,--- beneficiary of an entity means--- (a) in the case of Te Ohu Kai Moana Trustee Limited, the beneficiaries of the Deed of Settlement; and (b) in the case of Aotearoa Fisheries Limited, its income shareholders; and (c) in the case of Te Putea Whakatupu Trustee Limited and Te Wai Maori Trustee Limited, those individuals and groups entitled to apply for distributions provided for under the distribution policy of the relevant trust deed governance arrangements include--- (a) the procedures and criteria to appoint--- (i) the directors of Te Ohu Kai Moana Trustee Limited, Aotearoa Fisheries Limited, Te Putea Whakatupu Trustee Limited, and Te Wai Maori Trustee Limited; and (ii) the members and alternate members of Te Kawai Taumata; and (b) the ownership structure of each entity, including the shareholding structure of Aotearoa Fisheries Limited; and (c) the procedural requirements that enable the beneficiaries of an entity to hold directors accountable for management performance; and (d) the provisions required by this Act for the constitution and the trust deed (if any) of an entity. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100G Further relevant considerations Every review conducted under section 98 must take into account--- (a) the findings and reports of relevant audits conducted under section 89 or section 90; and (b) in each case, the plan prepared under section 96(2) by the entity subject to {{the}} audit. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100H Limits to recommendations that may be made (1) A reviewer must not recommend a change to the requirement in the trust deeds of Te Ohu Kai Moana, Te Putea Whakatupu Trust, or Te Wai Maori Trust that, upon termination, the trust assets or funds be distributed to iwi in the percentages specified in column 3 of Schedule 3. (2) If, in conducting a review under section 98(2), a reviewer finds that the interests of the beneficiaries of the Deed of Settlement would be better served by changes to section 125(1) or section 129 (which restrict the disposal of settlement quota to mandated iwi organisations and Te Ohu Kai Moana Group),--- (a) the reviewer must--- (i) include the finding in the review report; but (ii) not recommend that the restrictions be changed; and (b) {{a further review must be carried out}} [[a subsequent review must be carried out, as provided for by section 98(3)(a),]] not later than 5 years after the completion of the review under section 98(2). (3) If, in conducting a review of Te Putea Whakatupu Trustee Limited or Te Wai Maori Trustee Limited under section 98 [[(2) or (3)]], a reviewer finds that the entity continues to fulfil its purpose under this Act, the reviewer must not recommend that the relevant trust be wound up. (4) If a reviewer makes findings of the kind referred to in subsections (2) or (3), mandated iwi organisations must not amend a recommendation to achieve a change to the restriction. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Procedure after completion of review 100I Report on review (1) As soon as practicable after conducting a review under section 98, a reviewer must--- (a) prepare a written report that includes--- (i) the findings made in the review; and (ii) the recommendations of the reviewer; and (b) present the review report to--- (i) the committee of representatives; and (ii) each entity under review. (2) As soon as practicable after receiving the review report, the committee of representatives must distribute the report to--- (a) Te Ohu Kai Moana Trustee Limited; and (b) all mandated iwi organisations and representative Maori organisations; and (c) the members and alternate members of Te Kawai Taumata. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100J Consideration of review report by entity under review (1) Not later than 40 working days after receiving a review report under section 100I(1), the entity under review may prepare a plan specifying the actions that it intends to take to address the findings and recommendations of the reviewer. (2) A plan prepared under subsection (1) must be distributed to--- (a) Te Ohu Kai Moana Trustee Limited; and (b) all mandated iwi organisations and representative Maori organisations; and (c) the members and alternate members of Te Kawai Taumata. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 100K Consideration of review report (1) At a general meeting of Te Ohu Kai Moana Trustee Limited convened not later than 60 working days after the distribution of a review report under section 100I(2), Te Ohu Kai Moana Trustee Limited must make provision on the agenda for consideration of--- (a) the review report; and (b) any plan prepared under section 100J(1) by the entity under review; and (c) any comments from mandated iwi organisations {{or members or alternate members of Te Kawai Taumata}} on the review report or on any plan[[; and]] New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (d) any comments from members or alternate members of Te Kawai Taumata on the review report, as provided for in section 40(2)(d). ----------------------------------------------------------------------- ----------------------------------------------------------------------- (2) At the meeting referred to in subsection (1), the mandated iwi organisations may resolve to--- (a) adopt all or some of the recommendations set out in the review report; or (b) adopt all or part of the plan prepared under section 100J(1); or (c) without creating an inconsistency with the purposes of this Act or the purpose of Te Ohu Kai Moana, amend, and adopt as amended, any of those recommendations. (3) If 75% or more of the mandated iwi organisations, representing over 50% of the total notional iwi population, support a resolution made under subsection (2),--- (a) the entity under review must--- (i) within a reasonable time implement the resolutions to the extent that they are not inconsistent with this Act or any other enactment or rule of law; and (ii) include in {{the}} [[its next]] annual plan {{of the entity under review}} a description of any action required as a result of the resolutions implemented under subparagraph (i); and (b) if amendments to the Act are required, Te Ohu Kai Moana Trustee Limited must request the Minister to promote the necessary amendments. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Requirement to provide information 100L Information requested by auditor or reviewer Information requested by or on behalf of the auditor in relation to an audit conducted under section 89 or section 90, or by or on behalf of the reviewer in relation to a review conducted under section 98, must be provided promptly by the person or entity that--- (a) has or controls the information; or (b) is contractually entitled to the information; or (c) can obtain the information by reasonable effort. ----------------------------------------------------------------------- Part 3 Allocation and transfer of settlement assets New (majority) ----------------------------------------------------------------------- 101AA Outline of this Part (1) The provisions of this Part govern the allocation [[and transfer]] of settlement assets [[(including settlement money and any surplus funds)]] and set out the bases for allocation of--- (a) inshore quota; and (b) deepwater quota; and (c) harbour quota; and (d) freshwater quota; and (e) settlement quota within Specified Fisheries Management Areas; and (f) Chatham Island allocations; and (g) specified cash allocations. (2) It also makes provision for--- (a) the transfer of settlement assets; and (b) the sale of annual catch entitlement; and (c) requirements relating to assets held in trust; and (d) the status of settlement assets under the Inland Revenue Acts. ----------------------------------------------------------------------- Subpart 1---Allocation and transfer of settlement assets {Settlement assets} [Duty] 101 Duty to allocate and transfer settlement assets Struck out (majority) ======================================================================= (1) Te Ohu Kai Moana Trustee Limited must allocate and transfer settlement assets to iwi in accordance with this Part. (2) Te Ohu Kai Moana Trustee Limited must make the transfer referred to in subsection (1) as soon as reasonably practicable after it is satisfied that a mandated iwi organisation has met the criteria specified in subsection (4). ======================================================================= New (majority) ----------------------------------------------------------------------- (1) As soon as is reasonably practicable after Te Ohu Kai Moana Trustee Limited is satisfied that an iwi has met the criteria specified in subsection (4), it must--- (a) allocate settlement assets to that iwi in accordance with this Part; and New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (ab) transfer the allocated cash assets to the mandated iwi organisation of the iwi; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- (b) transfer the settlement quota and income shares to [[1 or more of]] the asset-holding companies of the mandated iwi organisation[[, so long as the asset-holding companies comply with section 14AB(1)]]. ----------------------------------------------------------------------- (3) A transfer of settlement quota under subsection {(2)} [(1)] is subject to section 116. (4) {A mandated} [An] iwi {organisation} must meet the following criteria before settlement assets may be {allocated and} transferred to it: (a) Te Ohu Kai Moana Trustee Limited has recognised {the} [a] mandated iwi organisation [for the iwi] under section 13{(1)}; and Struck out (majority) ======================================================================= (b) the mandated iwi organisation--- (i) holds registered coastline entitlements, as provided for by section 11, for all relevant quota management stocks; and (ii) has satisfied Te Ohu Kai Moana Trustee Limited that it has on its register of iwi members no fewer than the number of members specified in column 4 of Part 1 of Schedule 3; and (iii) has established an asset-holding entity that is a company or a trust, as required by section 12(1)(c). ======================================================================= New (majority) ----------------------------------------------------------------------- (b) the mandated iwi organisation holds, for all relevant quota management stocks, registered coastline entitlements as provided for by section 11[[, including separate entitlements for any relevant harbour quota]]. ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Further circumstance when Te Ohu Kai Moana Trustee Limited must allocate and transfer settlement assets 101A Interpretation In sections 101B to 101D,--- affected iwi has the meaning it is given in clause 2 of Schedule 5 named iwi means an iwi identified in a request made under section 101B(2). ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 101B Application of sections 101C and 101D (1) Sections 101C and 101D apply if an iwi--- (a) has a mandated iwi organisation recognised by Te Ohu Kai Moana Trustee Limited; but (b) cannot finalise all its coastline claims under clause 3 of Schedule 5 solely because 1 or more named iwi do not have a mandated iwi organisation. (2) A mandated iwi organisation may, by written notice,--- (a) request Te Ohu Kai Moana Trustee Limited to exercise its powers under section 101C; and (b) identify any affected iwi that does not have a mandated iwi organisation. (3) Before making a request under subsection (2), a mandated iwi organisation must, in relation to any affected iwi that has a mandated iwi organisation,--- (a) resolve any dispute and conclude all necessary agreements relevant to its coastline claims in accordance with clauses 4 and 5 of Schedule 5; and (b) request Te Ohu Kai Moana Trustee Limited to register the agreements under clause 6 of Schedule 5. (4) A request made under subsection (2) must be accompanied by coastline claims for all quota management stocks and harbour quota relevant to the iwi of the mandated iwi organisation making the request, except to the extent that any coastline entitlements have already been determined for that iwi. ----------------------------------------------------------------------- ----------------------------------------------------------------------- ----------------------------------------------------------------------- ----------------------------------------------------------------------- 101C Procedure if request made under section 101B(2) (1) When Te Ohu Kai Moana Trustee Limited receives a request from a mandated iwi organisation under section 101B(2), it must, in accordance with the process set out in clause 8 of Schedule 5, complete the verification of the data and agreements for the coastline claims as they relate to affected iwi (other than the named iwi). (2) If Te Ohu Kai Moana Trustee Limited is satisfied that the mandated iwi organisation is unable to finalise its coastline claims solely because 1 or more of the named iwi do not have a mandated iwi organisation, Te Ohu Kai Moana Trustee Limited must--- (a) give written notice to the recognised iwi organisation of each relevant named iwi--- (i) that coastline claims have been made by the mandated iwi organisation; and (ii) of the details of the coastline claims that affect the named iwi; and (iii) that the provisions of section 101D may be invoked for the benefit of the mandated iwi organisation that made the request under section 101B(2) on the specified date (which must be 3 years after the date of the notice), if any of the named iwi do not have a mandated iwi organisation on or before that date; and (b) record in the iwi register--- (i) its determination that the finalisation of coastline claims of that mandated iwi organisation is delayed; and (ii) the identity of the relevant named iwi; and (iii) a copy of any notice given under paragraph (a). ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 101D Allocation and transfer after request under section 101B(2) (1) If, before the date specified in the notice issued to a named iwi under section 101C(2)(a)(iii), Te Ohu Kai Moana Trustee Limited recognises a mandated iwi organisation for that iwi, the mandated iwi organisation that made the request under section 101B(2) must--- (a) complete the necessary agreements in accordance with clauses 4 and 5 of Schedule 5; and (b) request Te Ohu Kai Moana Trustee Limited to register those agreements under clause 6 of Schedule 5. (2) If, after the date specified in the notice issued to a named iwi under section 101C(2)(a)(iii), any agreements required under subsection (1) have been completed, but 1 or more named iwi do not have a mandated iwi organisation, Te Ohu Kai Moana Trustee Limited must proceed to determine coastline entitlements for the mandated iwi organisation that made the request under section 101B(2). (3) Coastline entitlements determined under subsection (2) must be made in accordance with--- (a) section 11 and Schedule 5; and (b) the coastline claims made by the mandated iwi organisation, as supported or modified by any agreements registered under clause 6 of Schedule 5. (4) To avoid doubt, the specified points in the coastline claims that would otherwise require the agreement of the named iwi that does not have a mandated iwi organisation must be treated as if they were subject to such an agreement. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Discretionary power {of Te Ohu Kai Moana Trustee Limited} 102 Discretion to allocate and transfer (1) If a mandated iwi organisation does not, 2 years or more after the date when it was recognised by Te Ohu Kai Moana Trustee Limited, hold the registered coastline entitlements required by section 101(4)(b){(i)}, Te Ohu Kai Moana Trustee Limited may allocate and transfer, in accordance with sections {103 and 105 to 107} [101(1) and 116], any or all of the following [settlement assets] to that mandated iwi organisation: (a) non-quota settlement assets: (b) settlement quota for which the mandated iwi organisation holds a registered coastline entitlement: (c) settlement quota for which the mandated iwi organisation does not hold a registered coastline entitlement. (2) However, if {an allocation} [a transfer] is made under subsection (1)(c),--- (a) settlement quota that is to be allocated on the basis of coastline may only be transferred in proportion to the length of coastline of the relevant iwi that Te Ohu Kai Moana Trustee Limited is satisfied is unlikely to be disputed; and (b) in the case of deepwater quota for which a registered coastline entitlement is required, settlement quota that is to be allocated on the basis of population must not be transferred unless a transfer of that quota management stock is made under subsection (2)(a). Struck out (majority) ======================================================================= (3) If settlement quota is allocated and transferred to a mandated iwi organisation under subsection (1)(c), the mandated iwi organisation must--- (a) not sell, exchange, or gift that quota until it holds registered coastline entitlements for the relevant quota management stock; and (b) where another mandated iwi organisation becomes entitled to any amount of that quota as a result of holding a registered coastline entitlement, transfer the relevant amount of that quota to that mandated iwi organisation without consideration or compensation before the start of the next fishing year. (4) Te Ohu Kai Moana Trustee Limited may, subject to any conditions that it considers appropriate, treat a mandated iwi organisation as if it has met the criterion of section 101(4)(b)(ii) if it is satisfied that--- (a) the mandated iwi organisation has made, and is continuing to make, reasonable efforts to meet the criterion; and (b) special reasons exist that make it appropriate to allocate settlement assets to that mandated iwi organisation in the circumstances. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) Assets transferred under subsection (1)(a) or (b) must have been allocated to the iwi in accordance with sections 103 and 105 to 107. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 102A Limitations applying if mandated iwi organisation receives settlement quota under section 102 (1) If settlement quota is transferred to a mandated iwi organisation under section 102(1)(c), the mandated iwi organisation must--- (a) not sell, exchange, or otherwise transfer that quota until it holds registered coastline entitlements for the relevant quota management stock; and (b) where another mandated iwi organisation becomes entitled to any amount of that quota as a result of holding a registered coastline entitlement, transfer the relevant amount of that quota to that mandated iwi organisation without consideration or compensation before the start of the next fishing year. (2) This section applies in addition to, and does not limit, the provisions of Part 4. ----------------------------------------------------------------------- Settlement asset money 103 Transfer of money (1) Te Ohu Kai Moana Trustee Limited must transfer settlement asset money it receives under section 149 as follows: (a) $20 million, without the addition of earnings, to Te Putea Whakatupu Trustee Limited in accordance with section 74(1) and (2); and (b) $10 million, without the addition of earnings, to Te Wai Maori Trustee Limited in accordance with section 87(1) and (2); and (c) $5 million, with the addition of earnings, to Te Ohu Kai Moana Trustee Limited as capital of Te Ohu Kai Moana; and Struck out (majority) ======================================================================= (d) amounts to iwi, without the addition of earnings or other adjustments, under--- (i) section 114; and (ii) section 115; and ======================================================================= New (majority) ----------------------------------------------------------------------- (d) amounts of money to iwi, as set out in sections 114 and 115, without the addition of earnings or other adjustments; and ----------------------------------------------------------------------- (e) $18 million, with the addition of earnings on that amount and on the amounts referred to in paragraphs (a), (b), and (d) until the payments are made under those paragraphs, may be applied by Te Ohu Kai Moana Trustee Limited to fund transitional arrangements, including--- (i) funding to enable Te Ohu Kai Moana Trustee Limited to perform its functions, including {{granting assistance to mandated}} [[assisting iwi and recognised]] iwi organisations under section 23 to meet their obligations under this Act; and (ii) up to $5 million to Te Putea Whakatupu Trustee Limited under section 74(3); and (iii) up to $2 million to Te Wai Maori Trustee Limited, under section 87(4); and (f) $20.7 million, plus earnings, under section 101 or section 102 to mandated iwi organisations in the percentage specified for each iwi in column 3 {of Part 1} of Schedule 3. Struck out (majority) ======================================================================= (2) In subsection (1), earnings means interest and dividends. ======================================================================= (3) Te Ohu Kai Moana Trustee Limited must not make {distributions} [payments] of money under section 74(5) or section 87(6) before any obligation under section 104 has been discharged, unless--- Struck out (majority) ======================================================================= (a) it first submits a proposal to make a distribution of money to an annual general meeting of Te Ohu Kai Moana Trustee Limited; and (b) the proposal is supported in a subsequent postal vote by at least 75% of the mandated iwi organisations representing at least 50% of the notional iwi population specified in column 3 of Part 1 of Schedule 3. ======================================================================= New (majority) ----------------------------------------------------------------------- (a) it first submits to the mandated iwi organisation of each iwi listed in Schedule 3 a written proposal to make such a payment; and (b) at least 75% of mandated iwi organisations representing at least 50% of the total notional iwi population specified in column 2 of Schedule 3 support the proposal in writing to Te Ohu Kai Moana Trustee Limited not later than 20 working days after the date when Te Ohu Kai Moana Trustee Limited submitted the proposal to mandated iwi organisations. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= 104 Allocation of surplus funds (1) This section applies if the annual plan of Te Ohu Kai Moana Trustee Limited, for the year that ends 5 years after the commencement of this Act, forecasts an accumulated net positive cash balance, after taking into account the amounts yet to be paid, as allocated under section 103(1)(a) to (d) and (f). (2) Te Ohu Kai Moana Trustee Limited--- (a) may set aside from the surplus referred to in subsection (1) up to $10 million against its liability to Te Wai Maori Trustee Limited under section 87(3); and (b) must allocate the remainder of that surplus to mandated iwi organisations--- (i) in accordance with sections 101 and 102; and (ii) in the percentage specified for each iwi in column 3 of Part 1 of Schedule 3, unless--- (A) it proposes, to the annual general meeting in that year, that part or all of the funds should be retained to be used collectively for stated purposes or projects on behalf of all iwi; and (B) the proposal is supported in a subsequent postal vote by at least 75% of the mandated iwi organisations, representing at least 50% of the total notional iwi population specified in column 3 of Part 1 of Schedule 3. ======================================================================= New (majority) ----------------------------------------------------------------------- 104 Allocation of surplus funds (1) If the annual plan of Te Ohu Kai Moana Trustee Limited for the year that ends 5 years after the commencement of this Act forecasts an accumulated net positive cash balance, Te Ohu Kai Moana Trustee Limited must comply with subsection (2). (2) The net positive cash balance (if any) that exists at the end of the relevant year must be allocated to mandated iwi organisations--- (a) in accordance with sections 101 and 102; and (b) in the percentage specified for each iwi in column 3 of Schedule 3. (3) However, Te Ohu Kai Moana Trustee Limited may retain all or part of any net positive cash balance to use for specified purposes or projects on behalf of all iwi, so long as it--- (a) submits a written proposal to do so to the mandated iwi organisation of each iwi listed in Schedule 3; and (b) at least 75% of mandated iwi organisations, representing at least 50% of the total notional iwi population specified in column 3 of Schedule 3 support the proposal in writing to Te Ohu Kai Moana Trustee Limited not later than 20 working days after the date when Te Ohu Kai Moana Trustee Limited submitted the proposal to mandated iwi organisations. (4) Despite subsections (2) and (3), Te Ohu Kai Moana Trustee Limited may set aside up to $10 million from the net positive cash balance referred to in subsection (2) against its liability to Te Wai Maori Trustee Limited under section 87(3). (5) In this section the forecast net positive cash balance referred to in subsection (1) must be determined according to generally accepted accounting {{principles}} [[practice]], after taking into account the amounts allocated under section 103(1)(a) to (d) and (f) but yet to be paid. ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Income shares ----------------------------------------------------------------------- ----------------------------------------------------------------------- 105 Allocation of income shares Te Ohu Kai Moana Trustee Limited must allocate the income shares in Aotearoa Fisheries Limited referred to in section 51(3)(b) to {mandated} iwi {organisations}--- (a) in the percentage specified for each iwi in column 3 {of Part 1} of Schedule 3; and (b) in accordance with the requirements of sections 101 and 102. Subpart 2---Bases for allocation of settlement quota Inshore quota 106 Allocation of inshore quota (1) When allocating inshore quota, Te Ohu Kai Moana Trustee Limited must, after setting aside any harbour quota, allocate to each {mandated} iwi {organisation} the same proportion of the settlement quota for each quota management stock that the iwi coastline bears to the total coastline of the quota management area for that stock, as determined in accordance with section 11 and Schedule 5. (2) This section applies unless, in the circumstances, sections 108 to 112 are relevant. Deepwater quota 107 Allocation of deepwater quota When allocating deepwater quota to {mandated} iwi {organisations}, Te Ohu Kai Moana Trustee Limited must--- (a) divide the total settlement quota for each quota management stock into 2 parcels, comprising 25% and 75% of the total amount respectively; and (b) allocate to each {mandated} iwi {organisation} an amount from the 25% parcel on the same basis as the allocation of inshore quota; and Struck out (majority) ======================================================================= (c) allocate to each mandated iwi organisation the same percentage of the 75% parcel that the population of the iwi bears to the total notional iwi population, as specified in column 3 of Part 1 of Schedule 3. ======================================================================= New (majority) ----------------------------------------------------------------------- (c) allocate the 75% parcel to each iwi in accordance with the percentages specified in column 3 of Schedule 3. ----------------------------------------------------------------------- Chatham zone 108 Chatham Island allocations (1) In this section,--- Chatham iwi means [the Moriori iwi and the] Ngati Mutunga (Chathams){, or Moriori, or both} [iwi] Chatham zone--- (a) means the area within 200 nautical miles of the baseline of the territorial sea around the Chatham Islands, as determined under the Territorial Sea, Contiguous Zone, and Exclusive Economic Zone Act 1977; and (b) includes a single and contiguous shared zone that lies--- (i) within the area described in paragraph (a); and (ii) within the area that would be within 200 nautical miles of the baseline of the territorial sea around New Zealand if the Chatham Islands were not part of New Zealand; and (iii) between 2 points at which the boundaries of the areas described in subparagraphs (i) and (ii) intersect, at approximately 40o 20.7'S 177o 58.2'W and 44o 06.5'S 178o 21.2'E. (2) If a quota management area is partly within the Chatham zone, the settlement quota for that quota management stock must be divided for the purpose of allocation into 2 portions in accordance with subsection (3), with--- (a) 1 portion being attributed to the Chatham zone; and (b) the other portion being attributed to the remaining part of the quota management area to be allocated under section 106 or section 107 or section 110, as if it were an allocation for a complete quota management area. (3) If settlement quota for a stock is to be divided under subsection (2), the portion of the quota for the stock attributable to the Chatham zone is given by--- a --- x c b where a = a - a c s --- 2 and a means the amount of stock taken in the Chatham zone c a means the amount of stock taken from the shared zone s a and a are derived from--- c s (i) in the case of stocks introduced into the quota management system before 1 October 1999, the total of all commercial catches for the stock for the fishing years commencing on 1 October 1990 and ending on 30 September 2001 (inclusive): (ii) in the case of stocks introduced into the quota management system after 1 October 1999, the total of all commercial catches of the stock for the most recent 5 [fishing] years of available data b means the total of all commercial catches for the stock for the relevant period described in subparagraphs (i) and (ii) c means the amount of settlement quota for the stock. (4) If a quota management area is wholly within the Chatham zone, all the settlement quota for that stock is attributed to the Chatham zone. (5) When allocating settlement quota attributed to the Chatham zone, Te Ohu Kai Moana Trustee Limited must allocate that quota as follows: (a) for inshore quota, Te Ohu Kai Moana Trustee Limited must allocate, to {the mandated iwi organisation of} each Chatham iwi, the proportion of the settlement quota for each stock, as established in a registered coastline entitlement, either--- (i) as agreed between the mandated iwi organisations of the Chatham iwi; or (ii) in the proportion that the iwi coastline bears to the total coastline of the Chatham Islands for that stock as determined in accordance with section 11 and Schedule 5; and (b) for deepwater quota, Te Ohu Kai Moana Trustee Limited must--- (i) divide the total settlement quota attributed to the Chatham zone for each stock into 2 equal parcels; and (ii) allocate to each {mandated iwi organisation of the} Chatham iwi an amount from 1 parcel on the same basis as inshore quota is allocated under paragraph (a); and (iii) allocate to {every mandated} [each] iwi {organisation} the {same} percentage of the other parcel {as the percentage} specified in column 3 {of Part 1} of Schedule 3. Harbour quota 109 Allocation of quota within harbours (1) Te Ohu Kai Moana Trustee Limited must allocate harbour quota to {mandated iwi organisations of} iwi whose territory abuts a harbour specified in Part 1 of Schedule 2. (2) If more than 1 iwi has its territory abutting a harbour specified in Part 1 of Schedule 2, the mandated iwi organisations of those iwi must take all reasonable steps--- (a) to consult with each other; and Struck out (majority) ======================================================================= (b) to agree on the proportion of the harbour quota for each relevant stock to be attributed to each iwi. ======================================================================= New (majority) ----------------------------------------------------------------------- (b) to agree on the proportion of the harbour quota for each relevant stock that must be--- (i) attributed to each iwi; and (ii) used subsequently by the mandated iwi organisation of each iwi in submitting coastline claims for that harbour quota. ----------------------------------------------------------------------- (3) If, after negotiating in good faith, mandated iwi organisations are unable to reach agreement under subsection (2)(b), they may enter into the dispute resolution process provided for in Part 5. (4) Harbour quota must be deducted from the total settlement quota for each relevant stock before the general allocation of that stock is made under section 106. (5) The classification of settlement quota as harbour quota under section 7 for each quota management stock lapses when all that quota has been allocated. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Allocations in specified Fishery Management Areas ----------------------------------------------------------------------- ----------------------------------------------------------------------- 110 Allocation of settlement quota in quota management areas same as Fishery Management Area 4 (1) This section applies if a quota management area for a quota management stock is exactly the same as Fishery Management Area 4. (2) When allocating settlement quota for a stock referred to in subsection (1), Te Ohu Kai Moana Trustee Limited must allocate to each {mandated} iwi {organisation} that portion of the quota not attributed to the Chatham zone, in accordance with the percentages specified in column 3 {of Part 1} of Schedule 3. 111 Allocation of settlement quota in quota management areas same as Fishery Management Area 6 (1) This section applies if a quota management area for a quota management stock is exactly the same as Fishery Management Area 6. (2) When allocating settlement quota for a stock referred to in subsection (1), Te Ohu Kai Moana Trustee Limited must allocate that quota to each {mandated} iwi {organisation} in accordance with the percentages specified in column 3 {of Part 1} of Schedule 3. 112 Allocation of settlement quota in quota management areas same as Fishery Management Area 10 (1) This section applies if a quota management area for a quota management stock is exactly the same as Fishery Management Area 10. (2) Te Ohu Kai Moana Trustee Limited must not allocate the settlement quota described in Part 3 of Schedule 1 {under this subpart} unless it is satisfied that there is a commercially viable total allowable commercial catch for the relevant quota management stock. (3) When allocating settlement quota under subsection (2), Te Ohu Kai Moana Trustee Limited must allocate that quota to {every mandated} [each] iwi {organisation} in accordance with the percentages specified in column 3 {of Part 1} of Schedule 3. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Highly migratory species 112A Allocation of settlement quota for highly migratory species (1) This section applies if a quota management stock is for a species listed in Schedule 4B of the Fisheries Act 1996. (2) When allocating settlement quota for a stock to which this section applies, Te Ohu Kai Moana Trustee Limited must allocate that quota to each iwi in accordance with the percentages specified in column 3 of Schedule 3. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Freshwater quota ----------------------------------------------------------------------- ----------------------------------------------------------------------- 113 Allocation of freshwater quota (1) When allocating freshwater quota, Te Ohu Kai Moana Trustee Limited must allocate that quota to {each mandated iwi organisation of} each iwi whose territory falls wholly or partly within the quota management area for each quota management stock. (2) If more than 1 iwi has its territory within a quota management area, an allocation of freshwater quota under subsection (1) may be made by Te Ohu Kai Moana Trustee Limited only--- (a) in accordance with an agreement entered into by the mandated iwi organisations of all the iwi whose territory is wholly or partly within the quota management area, that sets out how the settlement quota for the quota management area is to be divided among those {mandated} iwi {organisations}; or (b) if there is no agreement between the mandated iwi organisations of the iwi whose territory is wholly or partly within the quota management area, as identified under subsection (1), in the proportion that the population of each iwi living within the quota management area bears to the combined population of those iwi living within the quota management area. (3) For the purpose of subsection (2)(b), the population of an iwi living within a quota management area must be determined from the 2001 census. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Cash allocations ----------------------------------------------------------------------- ----------------------------------------------------------------------- 114 Additional cash in lieu of shortfall in settlement quota (1) This section applies if there are fewer than 10 000 000 shares for a quota management stock listed in Part 1 of Schedule 1, but only if the value of these shares is greater than $100. (2) When transferring settlement quota for stocks referred to in subsection (1), Te Ohu Kai Moana Trustee Limited must, at the time of transfer, {distribute} [pay] to any mandated iwi organisations [of iwi] that receive an allocation of that quota the amount in cash specified for that stock in column 4 of Part 1 of Schedule 1 in the same proportion that the quota is distributed. 115 Specific cash transfers to certain iwi (1) {At the time when a mandated iwi organisation is entitled to have settlement assets transferred to it under section 101,} Te Ohu Kai Moana Trustee Limited must pay the stated sum of money to the mandated iwi organisation of each of the following iwi [at the time when the iwi is entitled to have settlement assets transferred to it under section 101]: (a) Te Atiawa ki Whakarongotai, the sum of $398,039: (b) Ngai Takoto, the sum of $556,184: (c) Ngati Whare, the sum of $585,234: (d) Ngati Maru, the sum of $463,348: (e) Ngati Hauiti, the sum of $385,247: (f) Ngati Pukenga, the sum of $264,544: (g) Ngati Manawa, the sum of $72,841. (2) The payments under subsection (1) are in addition to any other entitlements of the iwi under this Act. Subpart 3---Transfer of settlement assets 116 Transfer of allocated settlement quota (1) Te Ohu Kai Moana Trustee Limited must transfer settlement quota allocated under section 101 in accordance with this section. (2) If {a} [the] mandated iwi organisation [of an iwi] to which settlement quota has been allocated wishes [and is eligible] to receive ownership of that quota,--- (a) it must, not later than 6 months before the start of the next fishing year applicable to that quota management stock (or a lesser period that Te Ohu Kai Moana Trustee Limited agrees is practicable in the circumstances), make written request to Te Ohu Kai Moana Trustee Limited to transfer some or all of that allocated settlement quota; and (b) Te Ohu Kai Moana Trustee Limited must transfer the quota requested by the mandated iwi organisation to an asset-holding {entity} [company] of that mandated iwi organisation before the start of the next fishing year that applies to each stock. New (majority) ----------------------------------------------------------------------- (3) In relation to settlement quota allocated to an iwi under section 101 but not transferred by Te Ohu Kai Moana Trustee Limited, the mandated iwi organisation must, not later than the end of the year which is 4 years after the commencement of this Act, notify Te Ohu Kai Moana Trustee Limited as to whether the members of that iwi wish the allocated settlement quota--- (a) to continue to be managed by Te Ohu Kai Moana Trustee Limited on behalf of the iwi; or (b) to be transferred to an asset-holding company of the mandated iwi organisation; or (c) to be consolidated with other quota for sale under section 132A. ----------------------------------------------------------------------- Struck out ======================================================================= ======================================================================= 117 Sale of annual catch entitlement (1) {Until settlement quota is transferred under section 116,} Te Ohu Kai Moana Trustee Limited must[, unless 1 or more of the conditions in subsection (2A) apply,] offer to sell the annual catch entitlement derived from {that} [settlement] quota [that has not been transferred under section 101 or section 102]--- (a) to mandated iwi organisations; and (b) in a manner that reflects as closely as possible, based on the available information, the provisions for the allocation of settlement quota under subpart 2. (2) Te Ohu Kai Moana Trustee Limited may[, as it sees fit,]--- (a) offer to sell the annual catch entitlement that would otherwise be offered to a mandated iwi organisation under subsection (1) to Aotearoa Fisheries Limited [or its nominated subcompany] at commercial rates; or ======================================================================= ======================================================================= Struck out (majority) ======================================================================= (b) sell it on the open market if--- (i) there is no mandated iwi organisation for an iwi; or (ii) if the mandated iwi organisation does not demonstrate reasonable progress in meeting the criteria set out in section 14 or section 101(4)(b); or (iii) lack of information prevents the application of the allocation model to sales of annual catch entitlement for particular groups of mandated iwi organisations and these mandated iwi organisations are unable to agree on an interim division of the available annual catch entitlement. ======================================================================= Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- (b) sell that annual catch entitlement on the open market; or (c) in the circumstances referred to in subsection (2A)(c), determine how annual catch entitlement is distributed among the affected iwi. (2A) Subsection (2) applies only if--- (a) there is no mandated iwi organisation or recognised iwi organisation for an iwi; or (b) Te Ohu Kai Moana Trustee Limited considers that the recognised iwi organisation does not demonstrate reasonable progress in meeting the criteria set out in section 14 or section 101(4)(b); or (c) for particular groups of mandated iwi organisations, a lack of information prevents the sale of annual catch entitlement in the manner referred to in subsection (1)(b) and their mandated iwi organisations are unable to agree on an interim division of the annual catch entitlement to be offered to them. ----------------------------------------------------------------------- (3) Te Ohu Kai Moana Trustee Limited must hold {on} [in] trust the net proceeds of a sale under subsection (2) (after deducting its reasonable costs and expenses) to be transferred to the relevant mandated iwi organisation when it is established or when the matters referred to in subsection {(2)(b)(ii) or (iii)} [(2A)(b) or (c)] are [remedied or] settled. (4) Te Ohu Kai Moana Trustee Limited may prescribe the terms and conditions for sale of annual catch entitlement under this section {by}--- (a) [by] describing in its draft annual plan [distributed in accordance with section 25(1)(c),] or in [a] panui distributed to all mandated iwi organisations and recognised iwi organisations,--- (i) the proposed terms and conditions for sale of annual catch entitlements; and (ii) the reason for the charges (if any) to be levied for annual catch entitlements against mandated iwi organisations and recognised iwi organisations; and (iii) how Te Ohu Kai Moana Trustee Limited proposes to use the expected revenue from the sale of annual catch entitlements; and (b) [after] taking into account the response of mandated iwi organisations and recognised iwi organisations. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 117 Offer of annual catch entitlement (1) Te Ohu Kai Moana Trustee Limited must, unless 1 or more of the conditions in subsection (3) apply, offer the annual catch entitlement derived from settlement quota that has not been transferred under section 101 or section 102--- (a) to mandated iwi organisations; and (b) in a manner that reflects as closely as possible, based on the available information, the bases for allocation of settlement quota to iwi under subpart 2, including, in relation to settlement quota allocated on the basis of coastline entitlement, agreements between groups of mandated iwi organisations on the division of annual catch entitlements to be offered to them. (2) Te Ohu Kai Moana Trustee Limited may, as it sees fit,--- (a) offer to sell the annual catch entitlement that would otherwise be offered to a mandated iwi organisation under subsection (1) to Aotearoa Fisheries Limited or its nominated subcompany at commercial rates; or (b) sell that annual catch entitlement on the open market; or (c) in the circumstances referred to in subsection (3)(c), determine the amount of annual catch entitlement to be offered to each affected mandated iwi organisation. (3) Subsection (2) applies only if--- (a) there is no mandated iwi organisation or recognised iwi organisation for an iwi; or (b) Te Ohu Kai Moana Trustee Limited considers that the recognised iwi organisation has not demonstrated reasonable progress in meeting the criteria set out in section 14; or (c) in the case of a particular group of iwi,--- (i) there is sufficient information to satisfy subsection (1)(b) for the group as a whole, but not for 1 or more individual iwi of that group; and (ii) the mandated iwi organisations of the group as a whole are unable to agree on a division of the annual catchment entitlement to be offered to them. (4) Te Ohu Kai Moana Trustee Limited must hold in trust the net proceeds of a sale under subsection (2)(a) or (b) (after deducting its reasonable costs and expenses) to be transferred to the relevant mandated iwi organisation when it is established or when the matters referred to in subsection (3)(b) or (c) are remedied or settled. (5) Te Ohu Kai Moana Trustee Limited may prescribe the terms and conditions for offering annual catch entitlement under subsection (1) or subsection (2)(c)--- (a) by describing in its draft annual plan distributed in accordance with section 25(1)(c), or in a panui distributed to all mandated iwi organisations and recognised iwi organisations,--- (i) the proposed terms and conditions for offering annual catch entitlements; and (ii) the reason for the charges (if any) to be levied for annual catch entitlements against mandated iwi organisations; and (iii) how Te Ohu Kai Moana Trustee Limited proposes to use the expected net revenue (if any) from these charges; and (b) after taking into account the response of mandated iwi organisations and recognised iwi organisations. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Subpart 4---Miscellaneous Assets held in trust 118 When settlement assets must be held in trust (1) Unless Te Ohu Kai Moana Trustee Limited exercises its discretion under section 102(1), it must hold in trust for each {mandated} iwi {organisation} that does not comply with section 101(4)--- (a) the income shares that would otherwise be transferred to each mandated iwi organisation; and (b) [any] dividends that relate to those shares. (2) Te Ohu Kai Moana Trustee Limited is entitled to withhold from {the amount} [any dividends] held in trust under subsection (1)[(b)] the reasonable costs incurred in administering {the assets} [the income shares and dividends]. Status of settlement assets for purposes of Inland Revenue Acts and other enactments 119 Status of settlement assets (1) For the purposes of the Inland Revenue Acts, the value of the settlement assets transferred [under this Part] to a mandated iwi organisation or [to] an asset-holding {entity under this Part} [company] (including settlement quota and income shares) is included in the available subscribed capital of the company[[, trust, or other body]] to which the assets are transferred. Struck out (majority) ======================================================================= (2) Income tax, goods and services tax, gift duty, or any tax duty levy, or any other charge imposed or provided for under the Inland Revenue Acts or any other enactment does not apply to allocations or transfers of settlement assets by Te Ohu Kai Moana Trustee Limited to--- (a) mandated iwi organisations; or (b) asset-holding entities required by section 101(4)(b)(iii); or (c) Te Putea Whakatupu Trustee Limited; or (d) Te Wai Maori Trustee Limited. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) Income tax, goods and services tax, gift duty, any tax duty levy, and any other charge imposed or provided for under the Inland Revenue Acts or any other enactment do not apply to allocations or transfers of settlement assets--- (a) by Te Ohu Kai Moana Trustee Limited to--- (i) mandated iwi organisations; or (ii) asset-holding companies required by section 12(1)(d); or (iii) Te Putea Whakatupu Trustee Limited; or (iv) Te Wai Maori Trustee Limited; and (b) by an asset-holding company to any of its subsidiaries established under section 14A(3), so long as that allocation or transfer is completed within 12 months of the transfer of settlement assets by Te Ohu Kai Moana Trustee Limited to the relevant asset-holding company under section 116. ----------------------------------------------------------------------- Part 4 [Settlement quota interests,] sales and exchanges of settlement quota[, related restrictions, and option to purchase] New (majority) ----------------------------------------------------------------------- 120AA Outline of this Part This Part provides for the following matters: (a) the registration under the Fisheries Act 1996 of a settlement quota interest against quota shares owned by asset-holding companies or subsidiaries of asset-holding companies; and (b) a general restriction on the transfer of settlement quota; and (c) the basis on which settlement quota may be disposed of; and (d) exceptions to the general constraint on disposal, including provisions for the exchange, of settlement quota; and (e) an option to purchase (right of first refusal), with a procedure for selling bundles of assets that include settlement quota[[; and]] New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (f) a power for Te Ohu Kai Moana Trustee Limited to make further rules for the sale or exchange of settlement quota. ----------------------------------------------------------------------- ----------------------------------------------------------------------- ----------------------------------------------------------------------- 120 Interpretation In this Part, [bundle of assets means a bundle that contains 1 or more stocks of settlement quota and may contain other assets, including non-quota settlement assets and non-settlement assets.] Struck out (majority) ======================================================================= Te Ohu Kai Moana Trustee Limited includes, except in sections 122 to 124, 127, and 136, a reference to any subsidiary, trust, or other entity over which Te Ohu Kai Moana Trustee Limited has effective control, including Aotearoa Fisheries Limited and its subcompanies, because in relation to that subsidiary, trust, or other entity, Te Ohu Kai Moana Trustee Limited--- (a) controls, directly or indirectly, 50% or more of the votes; or (b) appoints 50% or more of the directors, trustees, or office holders, as the case may be. ======================================================================= Subpart 1---Registration of settlement quota interests 121 Registration of settlement quota interests (1) Te Ohu Kai Moana Trustee Limited must, in accordance with section 152A of the Fisheries Act 1996, apply to the chief executive of the Ministry of Fisheries for registration of settlement quota interests {{against}}--- Struck out ======================================================================= ======================================================================= (a) quota shares listed in Schedule 1 within {5} [20 working] days after the appointed day and before any transactions are made involving those shares; and (b) any quota shares allocated under section 44 of the Fisheries Act 1996. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (a) within 20 working days after the appointed day and before any transactions are made involving the specified shares, against--- (i) quota shares listed in Schedule 1; and (ii) quota shares allocated, before the appointed day, under section 44 of the Fisheries Act 1996; and (b) against further quota shares allocated under section 44 of the Fisheries Act 1996 after the appointed day. ----------------------------------------------------------------------- ----------------------------------------------------------------------- (2) The quota [shares] referred to in subsection (1) become{s} settlement quota when the settlement quota interest is registered under section 152A of the Fisheries Act 1996. 122 General restriction on transfer of settlement quota (1) {Without authorisation by Te Ohu Kai Moana Trustee Limited, no transfer of settlement quota can be effected,} [Settlement quota must not be transferred] except--- New (majority) ----------------------------------------------------------------------- (aa) on application under subsection (2), with the authorisation of Te Ohu Kai Moana Trustee Limited (which must not be withheld if it is satisfied that the requirements of this Part for the transfer have been met by the registered owner of the settlement quota); or ----------------------------------------------------------------------- (a) as ordered by the Court; or (b) through forfeiture to the Crown under the Fisheries Act 1996. (2) An application to transfer settlement quota must be submitted {jointly} to the chief executive of the Ministry of Fisheries by the registered owner and Te Ohu Kai Moana Trustee Limited [jointly] in the prescribed form. 123 Quota {{to}} [[may]] be treated as settlement quota (1) A mandated iwi organisation may request Te Ohu Kai Moana Trustee Limited in writing to treat any quota owned by [the asset-holding company of] that mandated iwi organisation as settlement quota. (2) A request must not be made under subsection (1) until the mandated iwi organisation has--- (a) notified the proposal to the adult members of the iwi in accordance with {its constitutional documents} [subclause (3) of kaupapa 3A of Schedule 6]; and (b) obtained the approval of [[not less than]] 75% of the adult members of the iwi who {participate} [vote]--- Struck out (majority) ======================================================================= (i) by voting at an annual general meeting; or (ii) in a process prescribed in the constitutional documents of the mandated iwi organisation; and ======================================================================= New (majority) ----------------------------------------------------------------------- (i) at a general meeting of the mandated iwi organisation called for the purpose; or (ii) by postal ballot; and ----------------------------------------------------------------------- (c) obtained the approval of any party that holds a mortgage or caveat registered against the quota. (3) A [public] notice given under subsection (2)(a) must specify the quota management stock and the number of quota shares affected by the proposal. 124 Application for registration (1) This section applies if Te Ohu Kai Moana Trustee Limited--- (a) is acting in accordance with its duty under section 121; or (b) is satisfied that a mandated iwi organisation making a request under section 123(1) has complied with section 123(2) [and (3)]; or (c) has consented to a proposal for an exchange under section 134 of settlement quota for quota other than settlement quota. (2) Te Ohu Kai Moana Trustee Limited and the registered owner of the quota jointly (or Te Ohu Kai Moana Trustee Limited alone if it is the registered owner of the quota) must--- (a) request the chief executive of the Ministry of Fisheries to register a settlement quota interest against the quota shares; and (b) specify which quota management stock is the subject of the request; and (c) specify the number of quota shares to which the request applies. Struck out (majority) ======================================================================= (3) Subsection (2) applies, with the necessary modification, to a request to remove a settlement quota interest from settlement quota in an exchange contemplated by subsection (1)(c). ======================================================================= New (majority) ----------------------------------------------------------------------- (3) If, in the case of an exchange contemplated by subsection (1)(c), a request is made to remove a settlement quota interest from settlement quota, Te Ohu Kai Moana Trustee Limited and the registered owner of the quota jointly (or Te Ohu Kai Moana Trustee Limited alone if it is the registered owner of the quota) must--- (a) request the chief executive of the Ministry of Fisheries to remove the settlement quota interest from the quota shares; and (b) specify which quota management stock is the subject of the request; and (c) specify the number of quota shares to which the request applies. ----------------------------------------------------------------------- Subpart 2---Restrictions on, and procedures for, disposal of settlement quota 125 Restrictions on disposal of settlement quota (1) A mandated iwi organisation must not--- (a) sell its settlement quota, except to--- (i) another mandated iwi organisation; or (ii) [an entity within] Te Ohu Kai Moana {Trustee Limited} [Group]; or (b) gift its settlement quota. (2) A mandated iwi organisation must not sell any settlement quota earlier than 2 years after the date of the first transfer of settlement quota by Te Ohu Kai Moana Trustee Limited to the mandated iwi organisation {under Part 3}. (3) If [an entity within] Te Ohu Kai Moana {Trustee Limited} [Group] or a mandated iwi organisation sells or relinquishes control over a {wholly-owned} subsidiary, {whose assets include} [subcompany, asset-holding company, or subsidiary of an asset-holding company that holds] settlement quota, {the ownership of} that quota {is deemed to revert to the ownership} [must be treated as the property] of Te Ohu Kai Moana Trustee Limited or [of] the mandated iwi organisation, as appropriate. (4) Unless the exceptions under subpart 3 of this Part apply, [a] sale of settlement quota must be made in accordance with--- (a) this subpart; and (b) any rules {established} [made] by Te Ohu Kai Moana Trustee Limited under section 136. 126 Prerequisites to sale of settlement quota (1) A mandated iwi organisation may sell settlement quota {to another mandated iwi organisation or to Te Ohu Kai Moana Trustee Limited} only if, before sale, the mandated iwi organisation selling the quota has--- (a) notified the proposal to the adult members of the iwi in accordance with {its constitutional documents} [subclause (3) of kaupapa 3A of Schedule 6]; and (b) obtained the prior approval of [[not less than]] 75% of the adult members of the iwi who {participate} [vote]--- Struck out (majority) ======================================================================= (i) by voting at the annual general meeting; or (ii) in a process prescribed in the constitutional documents of the mandated iwi organisation. ======================================================================= New (majority) ----------------------------------------------------------------------- (i) at a general meeting of the mandated iwi organisation called for the purpose; or (ii) by postal ballot. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (2) A notice given under subsection (1)(a) must specify--- (a) the amount of settlement quota affected by the proposal; and (b) a reasonable estimate of the market value of the affected settlement quota. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) A notice given under subsection (1)(a) must specify,--- (a) in the public notice, the approximate proportion of the total value of the settlement quota of the iwi that is affected by the proposal; and (b) in the case of a private notice to an adult member of the iwi,--- (i) the amount of settlement quota of the iwi affected by the proposal; and (ii) a reasonable estimate of the likely market value of that settlement quota. (2A) An approval obtained under subsection (1)(b) may give a power for the mandated iwi organisation to sell--- (a) specified settlement quota; or (b) settlement quota generally up to a specified limit that must not exceed 10% of the total value of the settlement quota held by the asset-holding companies or any subsidiary of the asset-holding companies of the mandated iwi organisation; or (c) settlement quota approved for sale in accordance with a programme set out in the annual plan approved under kaupapa 11(b)(iii) of Schedule 6. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (3) Approval obtained under subsection (1)(b) for transactions involving settlement quota is valid for a term of not more than 15 months from the date on which it is given. ======================================================================= New (majority) ----------------------------------------------------------------------- (3) For transactions involving settlement quota, an approval obtained under subsection (1)(b) is valid from the date on which it is given--- (a) for a term not exceeding 15 months; or (b) in the case of an approval of the kind referred to in subsection (2A)[[(b)]], for the term specified in the approval, which must not exceed 12 months. ----------------------------------------------------------------------- (4) The terms referred to in subsection (3) {does} [do] not limit the term of a transaction or series of transactions referred to in section 128. Struck out (majority) ======================================================================= 127 Offer of option to purchase (1) A mandated iwi organisation may only sell settlement quota if it first gives every other mandated iwi organisation and Te Ohu Kai Moana Trustee Limited an opportunity to bid for the settlement quota. (2) A bid submitted under subsection (1) is binding until the conclusion of the sale process required by this Part. (3) After receiving bids under subsection (1), a mandated iwi organisation must give the first opportunity to purchase the settlement quota, at the highest price bid under subsection (1),--- (a) in the case of inshore settlement quota, to Te Ohu Kai Moana Trustee Limited and every other mandated iwi organisation that holds a registered coastline entitlement for the quota management stock being offered for sale; and (b) in the case of freshwater settlement quota, to Te Ohu Kai Moana Trustee Limited and every other mandated iwi organisation whose territory is wholly or partly within the relevant quota management area. (4) The vendor must sell to a party that, having been offered the settlement quota under subsection (3), matches the highest bid obtained under subsection (1), unless--- (a) the vendor decides not to sell; or (b) an alternative procedure has been provided for by Te Ohu Kai Moana Trustee Limited under section 136. (5) If the highest bid is matched by bids from more than 1 party referred to in subsection (3), the vendor may--- (a) negotiate with those parties; or (b) conduct a second bidding process between or amongst those other bidders; or (c) withdraw the settlement quota from sale. (6) If there are 2 matching highest bids obtained under subsection (1) that are not matched by a party referred to in subsection (3), the vendor may--- (a) negotiate with those parties; or (b) conduct a second bidding process between or amongst those other bidders; or (c) withdraw the settlement quota from sale. (7) If no party referred to in subsection (3) matches the highest bid obtained under subsection (1), the vendor must, unless an alternative procedure has been provided for by Te Ohu Kai Moana Trustee Limited under section 136,--- (a) sell to the party that submitted the highest bid under subsection (1); or (b) withdraw the settlement quota from sale. ======================================================================= New (majority) ----------------------------------------------------------------------- Option to purchase 127 Offer of option to purchase (1) A mandated iwi organisation may sell settlement quota in accordance with this subpart only if it first offers every other mandated iwi organisation and Te Ohu Kai Moana Group an opportunity to bid for the settlement quota. (2) In offering an opportunity to bid under subsection (1), a mandated iwi organisation that wishes to sell, as a single lot, a bundle of assets that includes 1 or more stocks of settlement quota must provide for--- (a) single bids to be made for the total bundle of assets{{; or}} [[; and]] (b) a set of bids to be made for lots covering all the assets in the bundle, including separate bids for each individual settlement quota stock. (3) However, a mandated iwi organisation that wishes to sell freshwater settlement quota must not include that quota in a bundle of assets that contains inshore or deepwater settlement quota. (4) A bid submitted under subsection (1) is binding until the conclusion of the sale process required by this subpart. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 127A Procedure for selling bundle of assets If bids have been received under section 127(1) to purchase a bundle of assets as a single lot, the mandated iwi organisation offering to sell must--- (a) calculate the sum of the highest bids received under section 127(2)(b) for each of the asset lots; and (b) either--- (i) notify all bidders of its intention to proceed with the sale as a bundle of assets or as separate lots, whichever yields the higher total cash return based on the bids received; or (ii) withdraw the settlement quota from sale. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 127B Procedure to determine right to purchase If assets offered for sale under section 127 include inshore or freshwater settlement quota, the first option to purchase must be given--- (a) in the case of inshore settlement quota, to Te Ohu Kai Moana Group and every mandated iwi organisation that holds a registered coastline entitlement for any inshore stock offered: (b) in the case of freshwater settlement quota, to Te Ohu Kai Moana Group and every mandated iwi organisation whose territory is wholly or partly within a relevant quota management area. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 127C Basis on which sale must proceed (1) The vendor must sell to a party that, having been offered the settlement quota under section 127B, matches the highest bid obtained under section 127(1), unless--- (a) the vendor decides not to sell; or (b) an alternative procedure has been provided for in rules made under section 136. (2) If the highest bid is matched by bids from more than 1 party referred to in section 127B, the vendor may--- (a) negotiate with those parties; or (b) conduct a second bidding process between or amongst those other bidders; or (c) withdraw the settlement quota from sale. (3) If no party referred to in section 127B matches the highest bid obtained under section 127(1), the vendor must sell to the party that submitted the highest bid under section 127(1), unless--- (a) the vendor decides not to sell; or (b) an alternative procedure has been provided for in rules made under section 136. (4) If there are 2 matching highest bids obtained under section 127(1) that are not matched by a party referred to in section 127B, the vendor may--- (a) negotiate with those parties; or (b) conduct a second bidding process between or amongst those other bidders; or (c) withdraw the settlement quota from sale. (5) To avoid doubt, subsections (3) and (4) apply to any sale of settlement quota to which section 127B does not apply. ----------------------------------------------------------------------- 128 Other constraints on disposal (1) Section 126 applies if a mandated iwi organisation proposes to enter into a transaction {{[with a third party] (including an option, security, mortgage, or guarantee)}} [[with any party by way of, for example, an option, security, mortgage, or guarantee]] or series of transactions that could, if the rights under the transaction were exercised, result in--- (a) the sale of settlement quota; or (b) the iwi being disentitled, for a period of more than 5 years, [to]--- (i) {to} the income from annual catch entitlements arising from that quota; or (ii) {to} the control or use of the annual catch entitlements arising from that quota. (2) Section 126 must be complied with before a transaction referred to in subsection (1) is entered into, but the other provisions of this subpart do not apply at that time. (3) If a [third] party to a transaction referred to in subsection (1) exercises a right to sell, or requires a sale of, settlement quota, sections 125[(1)] and 127 [to 127C] apply as if the seller were the mandated iwi organisation referred to in subsection (1). New (majority) ----------------------------------------------------------------------- (4) In this section, third party means a party not entitled to hold settlement quota. ----------------------------------------------------------------------- 129 Application of this subpart to Te Ohu Kai Moana {Trustee Limited} [Group] (1) If [an entity within] Te Ohu Kai Moana {Trustee Limited} [Group] acquires settlement quota under this subpart, sections 125[(1)] and 127 [to 127C] apply to {Te Ohu Kai Moana Trustee Limited} [that entity] as if it were a mandated iwi organisation. (2) [An entity within] Te Ohu Kai Moana {Trustee Limited may} [Group must] not sell settlement quota unless it--- Struck out ======================================================================= ======================================================================= (a) passes a special resolution in compliance with {its constitution} [constitutional documents]; and ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (a) passes a special resolution, in compliance with its constitutional documents, authorising it to exercise, in relation to settlement quota, either--- (i) a specific power of sale; or (ii) a general power of sale; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- (b) complies with any rules {established} [made] under section 136. 130 {Registration of sale of settlement quota} [When sale of settlement quota must be allowed] (1) Te Ohu Kai Moana Trustee Limited must allow a sale of settlement quota if it has ascertained that--- Struck out (majority) ======================================================================= (a) the 2-year period referred to in section 125(2) has elapsed; and (b) the mandated iwi organisation has obtained the approval required by section 126(1)(b); and (c) the offer of an option to purchase has been made as required by sections 127. ======================================================================= New (majority) ----------------------------------------------------------------------- (a) in the case of a sale by a mandated iwi organisation,--- (i) the 2-year period referred to in section 125(2) has elapsed; and (ii) the mandated iwi organisation has obtained the approval required by section 126(1)(b); and (b) in the case of a sale by a mandated iwi organisation or by an entity within Te Ohu Kai Moana Group, the offer of an option to purchase has been made as required by sections 127 to 127C. (1A) If a mandated iwi organisation or an entity within Te Ohu Kai Moana Group proposes to sell settlement quota, it must provide documentation to Te Ohu Kai Moana Trustee Limited, supported by a statutory declaration if Te Ohu Kai Moana Trustee Limited so requires, to establish the matters relevant under subsection (1). ----------------------------------------------------------------------- (2) Te Ohu Kai Moana Trustee Limited--- Struck out (majority) ======================================================================= (a) must include a record of all sales of settlement quota in the iwi register; and ======================================================================= New (majority) ----------------------------------------------------------------------- (a) must include in the iwi register a record of all transfers of settlement quota to or by asset-holding companies or their subsidiaries; and ----------------------------------------------------------------------- (b) may make or amend rules {in accordance with the procedure set out in section 38} [under section 136] regarding the evidence required to establish the matters referred to in subsection (1). 131 Remedy for breach of requirements under this subpart (1) If a contract for the sale of settlement quota, including a transaction or series of transactions referred to in section 128(1), is in breach of sections 125 to 129 or rules made under section 136, the Court may make orders{, including} [as it thinks fit, including orders]--- (a) {an order cancelling} [to cancel] the contract or transaction: (b) {an order vesting} [to vest] in the vendor the settlement quota that was the subject of the contract or transaction: (c) {an order vesting} [to vest] in the buyer the consideration for the contract or transaction: (d) [consistent with section 125,] if the buyer has on-sold, or has granted any interest in, or security over, the settlement quota{, an order that is consistent with section 125, as the Court thinks fit}: (e) {an order} that the costs of the applicant be met by the parties to the sale or transaction. (2) Orders made under subsection (1) may be made--- (a) on the application of--- (i) {a} [any] party; or (ii) {a} [an adult] member of an iwi whose mandated iwi organisation is a party; or (iii) a mandated iwi organisation; or (iv) [an entity within] Te Ohu Kai Moana {Trustee Limited} [Group]; and (b) on the terms and conditions that the Court thinks fit, {provided that} [so long as] the quota shares are not vested other than in a mandated iwi organisation or {Te Ohu Kai Moana Trustee Limited} [an entity within Te Ohu Kai Moana Group]. Struck out (majority) ======================================================================= (3) Orders made under subsection (1) may be made on the terms and conditions that the Court thinks fit, provided that the quota is not vested other than in a mandated iwi organisation or in Te Ohu Kai Moana Trustee Limited. ======================================================================= (4) In the case of a breach of sections 125 to 129 or rules made under section 136, the Illegal Contracts Act 1970 does not apply. Subpart 3---Exceptions to application of subpart 2 Quota sold to wholly[-owned] {controlled} entities 132 Settlement quota sold to wholly-owned {and controlled} entities Struck out (majority) ======================================================================= (1) In this section, Te Ohu Kai Moana group and group have the meaning that is given to Te Ohu Kai Moana Trustee Limited in section 120. ======================================================================= (2) Subpart 2 does not apply to--- (a) {the} Te Ohu Kai Moana Group if the sales are {within the membership of} [to 1 or more of the entities within] Te Ohu Kai Moana Group; or Struck out (majority) ======================================================================= (b) transfers between asset-holding entities owned by the same mandated iwi organisation. ======================================================================= New (majority) ----------------------------------------------------------------------- (b) transfers between or among asset-holding companies wholly owned by the same mandated iwi organisation or subsidiaries of those asset-holding companies. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Small parcels of settlement quota 132A Rationalisation of small parcels of settlement quota (1) In this section, small parcel of settlement quota means an amount of settlement quota that has--- (a) an estimated value of less than $100 or a greater amount as set in a rule made under section 136; and (b) been allocated to an iwi but not yet transferred to it under section 101. (2) A mandated iwi organisation may request Te Ohu Kai Moana Trustee Limited to retain a small parcel of settlement quota allocated to its iwi to be consolidated with other small parcels and subsequently offered for sale by tender. (3) A mandated iwi organisation must, before making a request under this section, comply with section 126, but is otherwise not bound by the provisions of subpart 2. (4) Te Ohu Kai Moana Trustee Limited must--- (a) record in the iwi register--- (i) the number of quota shares of each quota stock retained by it under this section; and (ii) the iwi to which the quota shares are allocated; and (b) before the end of the year that is 5 years after the commencement of this Act, offer for sale the consolidated settlement quota shares, in accordance with sections 127 to 127C; and (c) pay the net proceeds of the quota shares sold under paragraph (b) to the mandated iwi organisation of the iwi to which the settlement quota was first allocated, in proportion to the number of quota shares so allocated. ----------------------------------------------------------------------- Quota exchange 133 Exception for quota exchanges (1) Subpart 2 does not apply to the exchange of settlement quota for any other quota of the same market value. Struck out ======================================================================= ======================================================================= (2) A party to an exchange of the kind referred to in subsection (1) may only offer for exchange--- (a) settlement quota for quota that is not settlement quota; or (b) settlement quota for other settlement quota. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (2) A mandated iwi organisation or an entity within the Te Ohu Kai Moana Group, in offering settlement quota in an exchange referred to in subsection (1), may do so only in exchange for quota that is either--- (a) entirely settlement quota; or (b) entirely quota other than settlement quota. ----------------------------------------------------------------------- ----------------------------------------------------------------------- (3) To avoid doubt, settlement quota may be used in exchanges with parties other than [the entities within] Te Ohu Kai Moana {Trustee Limited} [Group] or {other} mandated iwi organisations. 134 Procedure and criteria for exchange (1) Before a mandated iwi organisation may exchange settlement quota under section 133, it must--- (a) advise Te Ohu Kai Moana Trustee Limited, {in relation to} [for] each quota management stock, [of]--- Struck out (majority) ======================================================================= (i) of the stock and the number of settlement quota shares to be transferred by the mandated iwi organisation in the proposed exchange and an estimate of the fair market value of those shares, determined in accordance with any rules made under section 136(2)(g); and (ii) of the stock and the number shares to be received by the mandated iwi organisation in exchange for the settlement quota referred to in subparagraph (i); and (iii) whether that quota is settlement quota; and (iv) an estimate of the fair market value of the quota shares to be received, determined in accordance with any rules made under section 136(2)(g); and ======================================================================= New (majority) ----------------------------------------------------------------------- (i) the number of settlement quota shares it proposes to offer for exchange; and (ii) an estimate of the fair market value of those shares, determined in accordance with any rules made under section 136(2)(g); and (iii) the stock and the number of shares to be received by the mandated iwi organisation in exchange for the settlement quota referred to in subparagraph (i); and (iv) whether the quota to be received is settlement quota; and (v) an estimate of the fair market value of the quota shares to be received, determined in accordance with any rules made under section 136(2)(g); and ----------------------------------------------------------------------- (b) obtain the consent of Te Ohu Kai Moana Trustee Limited to the exchange; and (c) ensure that the exchange complies with the policy on exchanges, as expressed in the annual plan of the mandated iwi organisation. New (majority) ----------------------------------------------------------------------- (1A) The mandated iwi organisation must provide to Te Ohu Kai Moana Trustee Limited documentation, supported by a statutory declaration if Te Ohu Kai Moana Trustee Limited so requires, to establish the matters referred to in subsection (1). ----------------------------------------------------------------------- (2) Te Ohu Kai Moana Trustee Limited must not allow an exchange {of} [involving] settlement quota unless it is satisfied that--- Struck out ======================================================================= ======================================================================= (a) the exchange {is for quota or quota bundles of a equivalent market value} [does not result in a net decrease in the total market value of settlement quota]; and ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (a) the exchange is for quota or bundles of quota of an equivalent market value; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- (b) each mandated iwi organisation involved in the exchange has complied with the policy of the mandated iwi organisation on exchanges, as notified in its annual plan. Struck out ======================================================================= ======================================================================= (3) If Te Ohu Kai Moana Trustee Limited is satisfied that the requirements of subsection (2) are met, and allows the proposed exchange, it must ensure that, after the exchange, settlement quota interests remain registered against the settlement quota referred to in subsection (1)(a){(ii)} [(i)], or are newly registered against the quota, as the case may be. (4) If the quota referred to in subsection (1)(a){(ii)} [(i)] was not previously settlement quota, Te Ohu Kai Moana Trustee Limited must ensure that the settlement quota interest is removed from the quota referred to in subsection (1)(a)(i). ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (3) If Te Ohu Kai Moana Trustee Limited is satisfied that the requirements of subsection (2) are met, and allows the proposed exchange, it must ensure that, after the exchange, settlement quota interests--- (a) remain registered against any settlement quota received in the exchange: (b) are registered against any non-settlement quota received in the exchange. (4) If the quota received in an exchange was not previously settlement quota, Te Ohu Kai Moana Trustee Limited must ensure that the settlement quota interest is removed from the quota offered for exchange. ----------------------------------------------------------------------- ----------------------------------------------------------------------- (5) Te Ohu Kai Moana Trustee Limited may{, in accordance with the procedure set out in section 38,} make or amend rules {as to} [under section 136 regarding] the evidence required to establish the matters referred to in subsection (2). Breach of restrictions applying to exchanges 135 Remedy for breach of {section 133} [restrictions] (1) If settlement quota is exchanged in breach of section 133 [or section 134], the Court may make orders {on the terms and conditions that the Court} [as it] thinks fit, including [orders]--- (a) {an order cancelling} [to cancel] the contract or transaction: (b) {an order returning} [to return] the assets and any consideration to the prior owner: New (majority) ----------------------------------------------------------------------- (ba) consistent with section 125, if a party to the exchange has on-sold or further exchanged the settlement quota, or has granted an interest in it or security over it: ----------------------------------------------------------------------- (c) {an order} that the costs of the applicant be met by the parties to the sale or transaction. (2) Orders may be made under subsection (1) on the application of--- (a) {a} [any] party; or (b) {a} [an adult] member of an iwi whose mandated iwi organisation is a party; or (c) a mandated iwi organisation; or (d) [an entity within] Te Ohu Kai Moana {Trustee Limited} [Group]. (3) In the case of a breach of section 133 or rules made under section 136, the Illegal Contracts Act 1970 does not apply. Subpart 4---Additional rules for quota sales and exchanges 136 Additional rules (1) Te Ohu Kai Moana Trustee Limited may {prescribe} [make] and amend, in accordance with section 38, rules that must be complied with in every sale or exchange of settlement quota under this Part. (2) The rules may include, but are not limited to, the following matters: (a) the notice required to be given to persons eligible to purchase settlement quota, and the form and content of the notice: (b) any methodology for the tender and sale processes, including notice periods and deadlines for responses to offers: (c) identification of the parties referred to in {section 127(3)} [sections 127 to 127C]: (d) express exceptions to the prohibition against mandated iwi organisations accepting any price other than the highest unconditional bid: (e) the sale of bundles of inshore settlement quota by a mandated iwi organisation or Te Ohu Kai Moana Trustee Limited in accordance with {section 127(3)} [sections 127 to 127C]: (f) the means for determining a purchaser, if more than 1 mandated iwi organisation or Te Ohu Kai Moana Trustee Limited bids the same price for the same settlement quota: (g) the means for determining fair market value for settlement quota that is exchanged, and the resolution of disputes as to that value: (h) the recovery of costs by Te Ohu Kai Moana Trustee Limited for the administrative processes required by sections 122 to 130 and 133 and 134, to be paid by, or deducted from, a mandated iwi organisation: New (majority) ----------------------------------------------------------------------- (ha) the means for determining the appropriate estimated value for the purpose of section 132A(1): ----------------------------------------------------------------------- (i) the information that must be supplied to Te Ohu Kai Moana Trustee Limited to establish compliance with the requirements of this Part, the form of that information, and the time {when} [within which] it must be supplied. (3) The matters that are provided for in the rules {prescribed} [made] under subsection (1) may apply to--- (a) a named mandated iwi organisation, all mandated iwi organisations, or mandated iwi organisations of a category specified in the notice; and (b) specified settlement quota, all settlement quota, or settlement quota of a category specified in the notice. Part 5 Dispute resolution New (majority) ----------------------------------------------------------------------- 137AA Outline of this Part This Part provides a process for the resolution of disputes over specified decisions, including--- (a) a requirement that those decisions be notified to the parties involved; and (b) the application of an extended jurisdiction for the Maori Land Court. ----------------------------------------------------------------------- 137 Purpose of this Part (1) The purpose of this Part is--- (a) to impose a general obligation on all persons making decisions specified in section 139(1) to give notice of the decision in accordance with section 138; and (b) to provide for an independent and transparent process for the resolution of disputes arising in relation to the specified decisions{, including provision for the exercise by the Maori Land Court of its extended jurisdiction under sections 26A to 26M of Te Ture Whenua Maori Act 1993}; and (c) to provide for certain matters relevant to {the implementation of the specified} [disputed] decisions. Subpart 1---Procedure for resolution of disputes 138 Notification of specified decisions (1) A person who makes a decision specified in section 139(1) must notify the parties in writing of--- (a) the nature of the decision that has been made; and (b) {the material} [if requested by a party, the principal] reasons for the decision. (2) Subsection (1)(b) applies only to the extent that it is not inconsistent with any other enactment or rule of law. (3) Notification required by subsection (1) may be made by publication in the Gazette or in another publication that the decision maker considers appropriate. Application of Part 139 Application of this Part to specified decisions (1) This Part applies to disputes that arise between or among the specified parties over--- (a) the classification of quota by Te Ohu Kai Moana Trustee Limited under section 7, between Te Ohu Kai Moana Trustee Limited and 1 or more mandated iwi organisations: Struck out ======================================================================= ======================================================================= (b) a claim to coastline or registration of a coastline entitlement under section 11, between--- (i) mandated iwi organisations; or (ii) Te Ohu Kai Moana Trustee Limited and 1 or more mandated iwi organisations {or recognised iwi organisations}: ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (b) a determination of a coastline entitlement by Te Ohu Kai Moana Trustee Limited under section 11, between or among Te Ohu Kai Moana Trustee Limited and 1 or more mandated iwi organisations: (ba) the division of disputed coastline that is the subject of a written agreement provided to Te Ohu Kai Moana Trustee Limited in support of an interim coastline claim made under clause 3A of Schedule 5 and for which a coastline entitlement has been determined, between or among Te Ohu Kai Moana Trustee Limited and the parties to that agreement: ----------------------------------------------------------------------- ----------------------------------------------------------------------- (c) whether an organisation seeking recognition or claiming continued recognition as a mandated iwi organisation meets the criteria in section 14, between Te Ohu Kai Moana Trustee Limited {or an adult member of an iwi} and 1 or more {recognised iwi organisations or} mandated iwi organisations: (d) which of 2 or more organisations claiming to be qualified as the mandated iwi organisation for an iwi {should be} [is to be] recognised by Te Ohu Kai Moana Trustee Limited under section 13(1), between Te Ohu Kai Moana Trustee Limited {or an adult member of an iwi} and 1 or more {recognised iwi organisations or} mandated iwi organisations: New (majority) ----------------------------------------------------------------------- (da) a proposal by Te Ohu Kai Moana Trustee Limited to make or amend a rule under section 15, between Te Ohu Kai Moana Trustee Limited and an affected mandated iwi organisation: ----------------------------------------------------------------------- (e) whether a recognised iwi organisation has failed to comply with section 18(3), between Te Ohu Kai Moana Trustee Limited {or an adult member of an iwi} and that recognised iwi organisation: (f) whether a mandated iwi organisation has remedied a breach of the conditions on which assistance was given to it by Te Ohu Kai Moana Trustee Limited under section 23(h) or (i), between Te Ohu Kai Moana Trustee Limited and the {recognised} [mandated] iwi organisation to which the conditions applied: (g) compliance with the requirements for {the} calling or {conduct of} [conducting] meetings under clause 1 or clause 7 of Schedule 7, between--- (i) 1 or more mandated iwi organisations; or (ii) 1 or more representative Maori organisations; or (iii) any combination of those organisations; or (iv) a person who has been removed from Te Kawai Taumata and a mandated iwi organisation or a representative Maori organisation: (h) a decision by Te Ohu Kai Moana Trustee Limited under section 102(1){,} [or] (2){, or (4)}, between a relevant mandated iwi organisation and Te Ohu Kai Moana Trustee Limited: (i) harbour quota to be allocated to an iwi under section 109, between--- (i) mandated iwi organisations {or recognised iwi organisations}; or (ii) Te Ohu Kai Moana Trustee Limited and 1 or more mandated iwi organisations {or recognised iwi organisations}: (j) freshwater quota to be allocated to an iwi under section 113, between--- (i) mandated iwi organisations {or recognised iwi organisations}; or (ii) Te Ohu Kai Moana Trustee Limited and 1 or more mandated iwi organisations {or recognised iwi organisations}: Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- (ja) a claim to coastline entitlements or interim coastline entitlements under clause 3 or clause 3A of Schedule 5, between or among 2 or more mandated iwi organisations or between mandated iwi organisations and recognised iwi organisations: ----------------------------------------------------------------------- ======================================================================= ======================================================================= (k) an allegation made by an adult member of an iwi that, in relation to a matter addressed in this Act, a decision, act, or omission of the mandated iwi organisation of that person's iwi is contrary to--- (i) this Act; or (ii) the constitutional documents or policies of the mandated iwi organisation. (2) In this section, relevant, in relation to a mandated iwi organisation {or recognised iwi organisation}, means the organisation to which the decision relates directly, but does not include a third party to that decision. 140 Resolution of disputes (1) If a dispute arises in relation to a [specified] decision referred to in section 139(1) and the parties are unable, within a reasonable time, to resolve the {matter} [dispute], they must, acting in good faith,--- (a) endeavour to agree on a process for resolving the dispute, including (but not limited to) [all or any of the following]: (i) further negotiations: (ii) mediation: (iii) determination of the {issue} [dispute] by an independent expert; and (b) before proceeding to take any other action under this Part, engage in the process agreed under paragraph (a). (2) Unless Te Ohu Kai Moana Trustee Limited is a party to the dispute, {the parties} [a party] may refer the dispute to Te Ohu Kai Moana Trustee Limited for determination if--- (a) {they} [the parties] cannot agree on a dispute resolution process under subsection (1)(a); or (b) the timetable for the dispute resolution process is not being complied with; or (c) the dispute resolution process does not resolve the dispute. 141 Reference to Maori Land Court (1) This section applies if--- (a) Te Ohu Kai Moana Trustee Limited is 1 of the parties to a dispute referred to in section 139(1); or (b) resolution is unable to be reached under section 140{(1) or (2)}. (2) A party to a dispute may, except in a dispute over a decision referred to in section 139(1)(e), refer the dispute to the Maori Land Court under section 26A of Te Ture Whenua Maori Act 1993 to obtain--- (a) advice on an appropriate dispute resolution process for the purposes of section 140(1): (b) a non-binding ruling on a question of fact or law to assist in the conduct of the dispute resolution process. New (majority) ----------------------------------------------------------------------- (2A) The Maori Land Court may make a determination under section 26B of Te Ture Whenua Maori Act 1993 if, on a reference to it under subsection (2), it is of the view that the parties have taken reasonable steps to resolve a dispute resolution process provided for under section 140(1). ----------------------------------------------------------------------- (3) If Te Ohu Kai Moana Trustee Limited declines to determine a dispute under section 140(2), it must refer {the matter} [it] to the Maori Land Court for determination under section 26B of Te Ture Whenua Maori Act 1993. Struck out (majority) ======================================================================= (4) A party to a dispute may refer a decision of Te Ohu Kai Moana Trustee Limited made under section 140(2) to the Maori Land Court for a determination under section 26B of Te Ture Whenua Maori Act 1993. ======================================================================= New (majority) ----------------------------------------------------------------------- (4) A party to a dispute that has been referred to Te Ohu Kai Moana Trustee Limited under section 140(2) may subsequently refer to the Maori Land Court, for determination under section 26B of Te Ture Whenua Maori Act 1993,--- (a) the decision of Te Ohu Kai Moana Trustee Limited: (b) the dispute, if Te Ohu Kai Moana Trustee Limited does not make a determination within a reasonable time. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= 142 Effect of right to make reference to Maori Land Court (1) This section applies if there is a right--- (a) under section 141 to refer a dispute to the Maori Land Court: (b) to appeal a determination made by the Maori Land Court under section 26B of the Te Ture Whenua Maori Act 1993. (2) Until the right referred to in subsection (1) has been exercised in full, a person who is a party to a matter referred to in section 141 must not--- (a) apply for review under Part I of the Judicature Amendment Act 1972; or (b) commence proceedings for a writ of, or in the nature of, mandamus, prohibition, or certiorari, or a declaration or injunction in relation to that decision. ======================================================================= New (majority) ----------------------------------------------------------------------- 142 Effect of reference or application etc to Maori Land Court (1) This section applies to--- (a) a dispute that may be referred to the Maori Land Court under section 141: (b) an application by Te Ohu Kai Moana Trustee Limited under section 144(1): (c) an action taken by Te Ohu Kai Moana Trustee Limited in reliance on section 145: New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (ca) an application made under section 145A: ----------------------------------------------------------------------- ----------------------------------------------------------------------- (d) an order made by a Judge under section 26L of Te Ture Whenua Maori Act 1993. (2) Until a matter referred to in subsection (1)(a){{, (b), or (c)}} [[to (ca)]] has been determined under section 26B of Te Ture Whenua Maori Act 1993 and all rights of appeal for that matter have been exercised in full, a person who is a party to the matter or order must not--- (a) apply for review under Part I of the Judicature Amendment Act 1972; or (b) commence proceedings for a writ of, or in the nature of, mandamus, prohibition, or certiorari, or a declaration or injunction in relation to that decision. (3) Until all rights of appeal in relation to an order referred to in subsection (1)(d) have been exercised in full, a person who is a party to the matter which is the subject of the order must not--- (a) apply for review under Part I of the Judicature Amendment Act 1972; or (b) commence proceedings for a writ of, or in the nature of, mandamus, prohibition, or certiorari, or a declaration or injunction in relation to that decision. ----------------------------------------------------------------------- Subpart 2---Other matters relevant to disputed decisions 143 Implementation of decision (1) A [specified] decision referred to in section 139(1) may be implemented by the decision maker before the expiry of the period of time referred to in subsection (2), but only to the extent that its implementation does not deprive a party that disputes the decision of the benefit of, or any remedy available under, the dispute resolution process [set out in this Part]. (2) A decision may be fully enforced if no party has commenced the dispute resolution process within 30 working days after receiving notification of the decision under section 138. (3) If, within that 30-working day period, all parties notified of a decision under section 139 advise the decision maker that they do not wish to invoke the dispute resolution process, that waiver is binding on the parties. 144 Powers of Te Ohu Kai Moana Trustee Limited in relation to mandated iwi organisations (1) Whether or not the processes in sections 140 and 141 have been followed by the parties that dispute a decision referred to in section 139(1)(c) or (d), Te Ohu Kai Moana Trustee Limited may apply to the Maori Land Court under section 26B of Te Ture Whenua Maori Act 1993 for an order denying or suspending recognition of a mandated iwi organisation on the ground {either} [that]--- Struck out ======================================================================= ======================================================================= (a) {that} it fails to meet 1 or more of the criteria set out in section 14[(1) or section 14AB(1) or (2)] (other than the criterion set out in section 14[AB](2)(a)); or ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (a) it fails to meet 1 or more of the criteria set out in section 14; or ----------------------------------------------------------------------- ----------------------------------------------------------------------- (b) {that} it is not making reasonable efforts to meet the requirements to enable it to qualify to receive settlement assets under section 101. (2) An application referred to in subsection (1) must explain fully why, in the opinion of Te Ohu Kai Moana Trustee Limited, the mandated iwi organisation has failed to meet 1 or more of the relevant criteria. 145 Other powers not limited Despite sections 140 and 141, Te Ohu Kai Moana Trustee Limited may take any action against a mandated iwi organisation for a breach of any condition of assistance given under section 23(h) and (i). New (majority) ----------------------------------------------------------------------- 145A Dispute resolution [[in relation to reorganisation of specified mandated iwi organisations]] (1) If a dispute arises in relation to the matters provided for by or under section 14C, a party to the dispute may apply to the Maori Land Court under section 26B(d) of Te Ture Whenua Maori Act 1993 for a determination by order in accordance with that Act. (2) An application made to the Maori Land Court in reliance on this section must, at the same time, be notified to every affected party. ----------------------------------------------------------------------- Part 6 Transitional and miscellaneous provisions, repeal, and amendments New (majority) ----------------------------------------------------------------------- 146AA Outline of this Part This Part sets out transitional provisions relating to--- (a) the transfer of the existing undertaking of the Treaty of Waitangi Fisheries Commission to Te Ohu Kai Moana Trustee Limited; and New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (ab) the saving of various existing agreements and exemptions; and (ac) the payment of any taxation refunded in respect of the Treaty of Waitangi Fisheries Commission or any of its companies; and ----------------------------------------------------------------------- ----------------------------------------------------------------------- (b) the position of the employees and agents of the Treaty of Waitangi Fisheries Commission in the transfer; and (c) the application of the Inland Revenue Acts and other enactments and the protection of specified names; and (d) the repeal of the Maori Fisheries Act 1989, and consequential amendments. ----------------------------------------------------------------------- 146 Interpretation (1) In this Part, unless the context otherwise requires,--- Struck out (majority) ======================================================================= existing undertaking means--- (a) all assets held, managed, or controlled by the Commission immediately before the appointed day; and (b) all rights and liabilities of the Commission ======================================================================= New (majority) ----------------------------------------------------------------------- existing undertaking includes all assets, whether in the form of quota shares, interests, rights, or liabilities, that, immediately before the appointed day, are owned, controlled, or held by--- (a) the Treaty of Waitangi Fisheries Commission; or (b) any company or other commercial entity, to the extent that it is owned or controlled by the Treaty of Waitangi Fisheries Commission ----------------------------------------------------------------------- liabilities {means} [includes] liabilities, debts, charges, duties, and obligations of the [Treaty of Waitangi Fisheries] Commission (whether present or future, actual or contingent, or payable or to be observed or performed in New Zealand or elsewhere). Subpart 1---Transitional provisions {Transfer from Commission to Te Ohu Kai Moana Trustee Limited} [Powers, savings, and validations] 147 [Powers of Treaty of Waitangi Fisheries] Commission {has powers of Te Ohu Kai Moana Trustee Limited} In the period between the commencement of this Act and the appointed day, the [Treaty of Waitangi Fisheries] Commission has the powers, functions, {and} duties[, rights, responsibilities, liabilities, {{or}} [[and]] exemptions] of Te Ohu Kai Moana Trustee Limited. New (majority) ----------------------------------------------------------------------- 147A Agreements for sale of annual catch entitlements (1) If the Treaty of Waitangi Fisheries Commission has, before the commencement of this Act, entered into agreements with iwi for the sale of annual catch entitlements, those sales may be completed in accordance with the agreements, even if they do not comply with section 117(1), (2), (2A), or (4). (2) However, the Treaty of Waitangi Fisheries Commission must comply with section 117(3). ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 147B Certain exemptions saved A consent to an exemption granted to the Treaty of Waitangi Fisheries Commission under section 28W of the Fisheries Act 1983 or under section 60 of the Fisheries Act 1996 {{is to}} [[must]] be treated as if the consent had been granted to Aotearoa Fisheries Limited {{or its subsidiaries}}. ----------------------------------------------------------------------- 148 Validation of certain decisions, etc (1) A decision, action, recommendation, appointment, undertaking, or transaction made, taken, or entered into in good faith and with reasonable care by a person or body, and during the periods referred to in subsection (2), is as valid as if it had been made, taken, or entered into under this Act. (2) Subsection (1) applies to a decision, action, recommendation, appointment, undertaking, or transaction made, taken, or entered into--- (a) by--- (i) the Minister of Maori Affairs in appointing directors under section 29: (ii) the [Treaty of Waitangi Fisheries] Commission or a {commissioner} [member of that Commission]: (iii) an employee or agent of {the} [that] Commission: (b) between either--- (i) 1 January 2003 and the commencement of this Act; or (ii) the commencement of this Act and the appointed day. New (majority) ----------------------------------------------------------------------- Transfer from Treaty of Waitangi Fisheries Commission ----------------------------------------------------------------------- 149 [Treaty of Waitangi Fisheries] Commission dissolved and existing undertaking vested (1) On and from the appointed day,--- (a) the [Treaty of Waitangi Fisheries] Commission is dissolved; and (b) the term of office of every {Commissioner} [member of that Commission] expires; and (c) the existing undertaking [of that Commission] vests in Te Ohu Kai Moana Trustee Limited, except to the extent that it is already vested in Aotearoa Fisheries Limited or its subcompanies, as contemplated by section 59(2). (2) A {commissioner} [member of the Treaty of Waitangi Fisheries Commission] is not entitled to compensation as a result of the expiry under this section of his or her term of office. New ----------------------------------------------------------------------- ----------------------------------------------------------------------- 149AA Payment of taxation refunds (if any) (1) This section applies if, after the appointed day, the Commissioner of Inland Revenue grants a refund in respect of taxation paid at any time before the appointed day by the Treaty of Waitangi Fisheries Commission or any company or subsidiary of a company owned by that Commission. (2) The Commissioner of Inland Revenue must pay the full amount of the assessed refund (if any), together with any interest payable under Part VII of the Tax Administration Act 1994, to Te Ohu Kai Moana Trustee Limited. (3) The monies (if any) paid to Te Ohu Kai Moana Trustee Limited under subsection (2)--- (a) must not be reported in the audited financial statements of Aotearoa Fisheries Limited, or of any company or subsidiary referred to in subsection (1); and (b) to avoid doubt, do not form part of the consolidated group net profit after tax of the consolidated group for the purpose of section 60(2); but (c) must be reported in the audited financial statements of Te Ohu Kai Moana Trustee Limited. ----------------------------------------------------------------------- ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 149A Classification of quota shares allocated to Treaty of Waitangi Fisheries Commission Te Ohu Kai Moana Trustee Limited must, not later than 6 months after the appointed day,--- (a) determine the appropriate classification, in accordance with sections 8 and 9, for quota shares allocated to the Treaty of Waitangi Fisheries Commission under section 44 of the Fisheries Act 1996--- (i) at any time before the commencement of this Act, and not included in Schedule 1: (ii) between the commencement of this Act and the appointed day; and (b) publish in the Gazette--- (i) the classification of the stock; and (ii) whether harbour quota applies to that stock; and (iii) the quantity, if any, of each harbour quota for the stock. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- Final report 149B Final report of Treaty of Waitangi Fisheries Commission (1) Not later than 6 months after the appointed day, Te Ohu Kai Moana Trustee Limited must prepare a statement of the financial position and other statements of accounts necessary to show fully the financial position of the Treaty of Waitangi Fisheries Commission and the financial results of its operations for the period beginning on 1 October 2003 and ending with the close of the day immediately before the appointed day. (2) As soon as is reasonably practicable after the completion of the obligation referred to in subsection (1), Te Ohu Kai Moana Trustee Limited must provide the final report to the Minister of Maori Affairs. (3) The Minister of Maori Affairs must present the final report to the House of Representatives as soon as is reasonably practicable after receiving it from Te Ohu Kai Moana Trustee Limited. (4) In this section, final report means--- (a) the statement of financial position of the Treaty of Waitangi Fisheries Commission and other information referred to in subsection (1); and (b) an audit report prepared by the Auditor-General on the statement referred to in paragraph (a). ----------------------------------------------------------------------- 150 References in instruments (1) A reference (express or implied) to the [Treaty of Waitangi Fisheries] Commission in an enactment (other than in this Act), or in an instrument, register, record, notice, security, document, or communication made, given, passed, or executed before or on the appointed day, must be read as a reference to Te Ohu Kai Moana Trustee Limited. (2) A reference (express or implied) to an officer of the [Treaty of Waitangi Fisheries] Commission in an enactment, or in an instrument, register, record, notice, security, document, or communication made, given, passed, or executed before or on the appointed day, must be read as a reference to--- (a) the corresponding employee of Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited; or (b) if there is no corresponding employee, an employee of Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited designated by Te Ohu Kai Moana Trustee Limited. (3) This section is subject to section 166. 151 Status of contracts and other instruments (1) [In subsection (2), contracts and other instruments means] contracts, agreements, conveyances, deeds, leases, licences, other instruments, undertakings, notices, and any binding rulings made under Part VA of the Tax Administration Act 1994 (whether in writing or not), entered into by, made with, given to or by, or addressed to the [Treaty of Waitangi Fisheries] Commission (whether alone or with another person) before the appointed day and having effect immediately before the appointed day {(contracts and other instruments) are subject to subsection (2)}. (2) {The} Contracts and other instruments are binding on, and enforceable by, against, or in favour of, Te Ohu Kai Moana Trustee Limited and have effect for the purposes of the Inland Revenue Acts as if Te Ohu Kai Moana Trustee Limited and not the [Treaty of Waitangi Fisheries] Commission had been the person by whom they were entered into, with whom they were made, or to or by whom they were given or addressed. 152 Status of existing securities (1) A security held by the [Treaty of Waitangi Fisheries] Commission as security for a debt or other liability to {the} [that] Commission incurred before the appointed day--- (a) is available to Te Ohu Kai Moana Trustee Limited as security for the discharge of that debt or liability; and (b) if the security extends to future or prospective debts or liabilities, is available as security for the discharge of debts or liabilities to Te Ohu Kai Moana Trustee Limited incurred on or after the appointed day. (2) Te Ohu Kai Moana Trustee Limited is entitled to the same rights and priorities, and is subject to the same liabilities, in relation to the security as the [Treaty of Waitangi Fisheries] Commission would be if this Act had not been passed. 153 Continuation of proceedings (1) An action, arbitration, proceeding, or cause of action that was pending or existing by, against, or in favour of the [Treaty of Waitangi Fisheries] Commission, or to which {the} [that] Commission was a party, before the appointed day may be continued and enforced by against, or in favour of Te Ohu Kai Moana Trustee Limited. (2) It is not necessary to amend a pleading, writ, or other document to continue the action, arbitration, proceeding, or other cause of action. 154 Matters not affected by transfer to Te Ohu Kai Moana Trustee Limited Nothing effected or authorised by this Act--- (a) places the [Treaty of Waitangi Fisheries] Commission, Te Ohu Kai Moana Trustee Limited, or any other person in breach of a contract or confidence, or breach of trust, or makes any of them guilty of a civil wrong; or (b) entitles a person to terminate, cancel, or amend a contract or arrangement, or to accelerate the performance of an obligation, or to impose a penalty or increased charge; or (c) places the [Treaty of Waitangi Fisheries] Commission, Te Ohu Kai Moana Trustee Limited, or any other person in breach of an enactment, a rule of law, or a provision of a contract that prohibits, restricts, or regulates the assignment or transfer of an asset, right, or liability or the disclosure of information; or (d) releases a surety in whole or in part from an obligation; or (e) invalidates or discharges a contract. 155 Books and documents to remain evidence (1) A document, matter, or thing that would have been admissible in evidence for or against the [Treaty of Waitangi Fisheries] Commission is, on and after the appointed day, admissible in evidence for or against Te Ohu Kai Moana Trustee Limited. (2) For the purpose of this section, document has the meaning given to it in section 48G of the Evidence Act 1908. 156 Registers (1) The Registrar General of Land, Commercial Fisheries Services Limited, or any other person charged with keeping books or registers is not required to change the name of the [Treaty of Waitangi Fisheries] Commission to Te Ohu Kai Moana Trustee Limited in the books or registers, or in a document, solely because of the provisions of this Act. (2) If Te Ohu Kai Moana Trustee Limited presents an instrument referred to in subsection (3) to a registrar or other person, the presentation of that instrument is, in the absence of evidence to the contrary, sufficient proof that the property is vested in Te Ohu Kai [Moana] Trustee Limited on behalf of Te Ohu Kai Moana, as specified in the instrument. (3) For the purposes of this section, the instrument need not be an instrument of transfer, but must--- (a) be executed or purport to be executed by Te Ohu Kai Moana Trustee Limited; and (b) relate to an existing undertaking held, managed, or controlled by the [Treaty of Waitangi Fisheries] Commission immediately before the appointed day; and (c) be accompanied by a certificate by Te Ohu Kai Moana Trustee Limited that the property was vested in Te Ohu Kai Moana Trustee Limited under this Act. Subpart 2---Employees and agents 157 Interpretation In this subpart,--- Struck out (majority) ======================================================================= Commission includes Aotearoa Fisheries Limited ======================================================================= transferred employee means a person employed by the [Treaty of Waitangi Fisheries] Commission immediately before the appointed day who becomes an employee of Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited on the appointed day New (majority) ----------------------------------------------------------------------- Treaty of Waitangi Fisheries Commission includes Aotearoa Fisheries Limited, the company referred to in section 12 of the Maori Fisheries Act 1989. ----------------------------------------------------------------------- 158 Liability of employees and agents (1) A person who, at any time before the appointed day, held office as a member of the [Treaty of Waitangi Fisheries] Commission or who was an officer, employee, agent, or representative of {the} [that] Commission, is not personally liable in respect of an act or thing done or omitted to be done by him or her before the appointed day in the exercise or bona fide purported exercise of an authority conferred by or under the Maori Fisheries Act 1989, the Treaty of Waitangi (Fisheries Claims) Settlement Act 1992, or any other enactment. (2) This section applies only--- (a) in the absence of actual fraud; and (b) if the act or omission does not amount to an offence under any enactment or rule of law. 159 Transfer of existing employees On the appointed day, each employee of the [Treaty of Waitangi Fisheries] Commission becomes an employee of Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited, as determined by the [Treaty of Waitangi Fisheries] Commission. 160 Terms and conditions of employment of transferred employees (1) The employment of a transferred employee must be on terms and conditions no less favourable to the transferred employee than those applying to the employee immediately before the appointed day. (2) Subsection (1)--- (a) continues to apply to the terms and conditions of employment of a transferred employee until those terms and conditions are varied by agreement between the transferred employee and Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited, as the case may be; and (b) does not apply to a transferred employee who receives a subsequent appointment with Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited. 161 Continuity of employment For the purposes of every enactment, law, determination, contract, and agreement relating to the employment of a transferred employee, the transfer of the employee from the [Treaty of Waitangi Fisheries] Commission to Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited, as the case may be, does not, of itself, break the employment of that person, or the period of his or her employment by the [Treaty of Waitangi Fisheries] Commission as having been a period of service with Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited, as the case may be. 162 No compensation for technical redundancy A transferred employee is not entitled to receive any payment or any other benefit solely on the ground that--- (a) the position held by the employee with the [Treaty of Waitangi Fisheries] Commission has ceased to exist; or (b) the employee has ceased, as a result of his or her transfer to Te Ohu Kai Moana Trustee Limited or Aotearoa Fisheries Limited, to be an employee of the [Treaty of Waitangi Fisheries] Commission. Subpart 3---Miscellaneous provisions 163 Application of Inland Revenue Acts and other enactments (1) For the purposes of the Inland Revenue Acts, binding rulings under those Acts, and any other enactment that imposes or provides for the collection of a tax, duty, levy or other charge, the [Treaty of Waitangi Fisheries] Commission and Te Ohu Kai Moana Trustee Limited are the same person. (2) For the purposes of the Inland Revenue Acts, Te Ohu Kai Moana Trustee Limited must be treated as having held, at all times since the interests were acquired by the [Treaty of Waitangi Fisheries] Commission, the voting interests and market value interests that they receive from {the} [that] Commission under this Act. 164 Protection of names (1) No person may be incorporated or registered under any enactment or in any other manner using any of the following names: (a) Te Ohu Kai Moana; or (b) Te Kawai Taumata; or (c) Te Putea Whakatupu Trust; or (d) Te Wai Maori Trust. (2) No person, other than the person to whom the name applies, either alone or with another person, may operate or carry on business or activities--- (a) under a name specified in subsection (1); or (b) under any other name, knowing that the name so resembles a specified name as to be likely to mislead a person. (3) A person who contravenes subsection (2) commits an offence and is liable on summary conviction to a fine not exceeding $1,000. (4) It is a defence in any prosecution for an offence against subsection (3) if the defendant proves that, either alone or with any other person or persons, the defendant has carried on business continuously under the name to which the prosecution relates from any date before the commencement of this Act. Subpart 4---Repeal and consequential amendments 165 Enactment repealed The Maori Fisheries Act 1989 (1989 No 159) is repealed on and from the appointed day. 166 Amendments to other enactments On and from the appointed day, the enactments specified in Schedule 8 are amended in the manner indicated in that schedule. . . . . . Schedule 1 ss 5, 23, 112 Quota shares Part 1 Quota shares allocated to Treaty of Waitangi Fisheries Commission under section 40 of the Maori Fisheries Act 1989 Quota Description Number of Shortfall in value management quota of quota shares ($) stock code shares to be allocated under Part 3 BAR1 IN 9 154 221 128,860 BAR4 IN* 9 988 235 201 BAR5 IN 10 000 000 nil BAR7 IN 9 778 523 21,479 BCO1 IN 9 709 368 380 BCO2 IN 10 000 000 nil BCO3 IN 6 267 975 84,758 BCO4 IN* 9 481 931 26,062 BCO5 IN 9 900 993 13,505 BCO7 IN 10 000 000 nil BCO8 IN 10 000 000 nil BNS1 IN 8 612 700 287,865 BNS2 IN 9 720 632 48,800 BNS3 DW 6 760 168 359,621 BNS7 DW 10 000 000 nil BNS8 DW 7 500 000 12,115 BYX1 IN 10 000 000 nil BYX2 IN 10 000 000 nil BYX3 DW 10 000 000 nil BYX7 DW 6 708 074 5,639 BYX8 DW 10 000 000 nil CRA1 IN 9 303 231 173,508 CRA2 IN 10 000 000 nil CRA3 IN 10 000 000 nil CRA4 IN 10 000 000 nil CRA5 IN 10 000 000 nil CRA6 IN* 10 000 000 nil CRA7 IN 10 000 000 nil CRA8 IN 10 000 000 nil CRA9 IN 10 000 000 nil ELE1 IN 10 000 000 nil ELE2 IN 10 000 000 nil ELE3 IN 9 014 095 68,177 ELE5 IN 10 000 000 nil ELE7 IN 10 000 000 nil FLA1 IN 9 947 865 2,144 FLA2 IN 10 000 000 nil FLA3 IN 10 000 000 nil FLA7 IN 9 975 407 722 GMU1 IN 9 833 593 5,255 GMU2 IN 10 000 000 nil GMU3 IN 10 000 000 nil GMU7 IN 10 000 000 nil GUR1 IN 10 000 000 nil GUR2 IN 9 999 145 nil GUR3 IN 10 000 000 nil GUR7 IN 9 957 921 1,146 GUR8 IN 10 000 000 nil HAK1 DW 9 812 104 35,467 HAK4 DW++ 10 000 000 nil HAK7 DW 10 000 000 nil HOK1 DW 10 000 000 nil HPB1 IN 7 695 508 185,302 HPB2 IN 9 906 085 5,036 HPB3 IN 9 756 192 10,784 HPB4 IN++ 10 000 000 nil HPB5 IN 9 986 705 480 HPB7 IN 10 000 000 nil HPB8 IN 9 997 503 nil JDO1 IN 10 000 000 nil JDO2 IN 10 000 000 nil JD{0}[O]3 IN 10 000 000 nil JDO7 IN 10 000 000 nil JMA7 DW 9 999 919 nil LIN1 IN 9 800 907 3,162 LIN2 IN 10 000 000 nil LIN3 IN 9 624 660 91,377 LIN4 DW++ 10 000 000 nil LIN5 DW 8 849 370 208,971 LIN6 DW++ 10 000 000 nil LIN7 DW 7 662 577 515,887 MOK1 IN 9 935 296 1,359 MOK3 IN 8 347 091 5,940 MOK4 IN* 9 529 436 346 MOK5 IN 9 690 100 245 OEO1 DW 10 000 000 nil OEO3A DW 10 000 000 nil OEO4 DW++ 10 000 000 nil OEO6 DW++ 10 000 000 nil ORH1 DW 10 000 000 nil ORH2A DW 10 000 000 nil ORH2B DW 10 000 000 nil ORH3A DW 10 000 000 nil ORH3B DW 8 096 630 2,750,865 ORH7A DW 10 000 000 nil ORH7B DW 10 000 000 nil PAU1 IN 9 948 187 nil PAU2 IN 8 243 390 675,362 PAU3 IN 7 356 874 532,730 PAU4 IN* 9 199 401 549,003 PAU5A IN 10 000 000 nil PAU5B IN 10 000 000 nil PAU5D IN 10 000 000 nil PAU6 IN 10 000 000 nil PAU7 IN 10 000 000 nil PHC1 IN 10 000 000 nil RCO1 IN 7 377 282 2,218 RC{0}[O]2 IN 9 999 640 nil RCO3 IN 9 995 723 1,252 RCO7 IN 9 997 841 134 SCH1 IN 9 776 953 17,139 SCH2 IN 10 000 000 nil SCH3 IN 9 999 845 nil SCH4 IN* 10 000 000 nil SCH5 IN 9 712 027 19,339 SCH7 IN 10 000 000 nil SCH8 IN 10 000 000 nil SKI1 IN 9 999 348 nil SKI2 IN 9 991 507 214 SKI3 IN 9 986 884 nil SKI7 IN 10 000 000 nil SNA1 IN 9 934 489 131,360 SNA2 IN 8 829 327 62,026 SNA3 IN 9 758 514 nil SNA7 IN 9 017 500 23,586 SNA8 IN 8 465 133 740,949 SPO1 IN 9 932 318 3,903 SPO2 IN 9 998 056 nil SPO3 IN 7 926 166 167,993 SPO7 IN 9 421 999 23,455 SPO8 IN 9 721 290 8,035 SQU1J IN 10 000 000 nil SQU1T DW 9 999 982 nil SQU6T DW++ 10 000 000 nil STA1 IN 10 000 000 nil STA2 IN 4 352 632 5,198 STA3 IN 10 000 000 nil STA4 IN* 9 332 654 12,960 STA5 IN 10 000 000 nil STA7 IN 10 000 000 nil STA8 IN 10 000 000 nil SWA1 DW 9 625 469 28,930 SWA3 DW 9 197 787 103,471 SWA4 DW 9 999 998 nil TAR1 IN 9 894 046 18,795 TAR2 IN 10 000 000 nil TAR3 IN 9 999 401 nil TAR4 IN* 10 000 000 nil TAR5 IN 10 000 000 nil TAR7 IN 9 987 230 743 TAR8 IN 10 000 000 nil TRE1 IN 9 996 105 276 TRE2 IN 9 997 388 nil TRE3 IN 7 314 815 1,044 TRE7 IN 9 999 754 nil WAR1 IN 10 000 000 nil WAR2 IN 9 994 202 128 WAR3 IN 10 000 000 nil WAR7 IN 9 999 795 nil WAR8 IN 9 999 141 nil Total 1 444 584 253 8,185,701 *For allocation of this inshore quota see sections 110 and 111. ++For allocation of this deepwater quota see sections 110 and 111. Where fewer than 10 000 000 shares are shown for any quota management stock, see section 114. Where the amount shown in column 4 is {NIL} [nil], that is because the value is less than $100. Part 2 Quota shares allocated to Treaty of Waitangi Fisheries Commission under section 44 of the Fisheries Act 1996 Quota Description Number of quota shares to management be allocated under Part 3 stock ANC1 IN 20 000 000 ANC2 IN 20 000 000 ANC3 IN 20 000 000 ANC4 IN* 20 000 000 ANC7 IN 20 000 000 ANC8 IN 20 000 000 ANG11 FW 20 000 000 ANG12 FW 20 000 000 ANG13 FW 20 000 000 ANG14 FW 20 000 000 ANG15 FW 20 000 000 ANG16 FW 20 000 000 BUT1 IN{++} 20 000 000 BUT2 IN{++} 20 000 000 BUT3 IN{++} 20 000 000 BUT4 IN*{++} 20 000 000 BUT5 IN{++} 20 000 000 BUT6 DW++{++} 20 000 000 BUT7 IN{++} 20 000 000 [BYA1] [IN] [20 000 000] [BYA2] [IN] [20 000 000] [BYA3] [IN] [20 000 000] [BYA4] [IN*] [20 000 000] [BYA5] [IN] [20 000 000] [BYA7] [IN] [20 000 000] [BYA8] [IN] [20 000 000] [BYA9] [IN] [20 000 000] CDL1 DW 20 000 000 CDL2 DW 20 000 000 CDL3 DW 20 000 000 CDL4 DW++ 20 000 000 CDL5 DW 20 000 000 CDL6 DW 20 000 000 CDL7 DW 20 000 000 CDL8 DW 20 000 000 CDL9 DW 20 000 000 [CHC1] [IN] [20 000 000] [CHC2] [IN] [20 000 000] [CHC3] [IN] [20 000 000] [CHC4] [IN++] [20 000 000] [CHC5] [IN++] [20 000 000] [CHC6] [IN] [20 000 000] [CHC7] [IN] [20 000 000] [CHC8] [IN] [20 000 000] [CHC9] [IN] [20 000 000] COC1A IN{++} 20 000 000 [COC3] [IN] [20 000 000] COC7A IN{++} 20 000 000 COC7B IN{++} 20 000 000 [DAN1] [IN] [20 000 000] [DAN2] [IN] [20 000 000] [DAN3] [IN] [20 000 000] [DAN4] [IN*] [20 000 000] [DAN5] [IN] [20 000 000] [DAN7] [IN] [20 000 000] [DAN8] [IN] [20 000 000] [DAN9] [IN] [20 000 000] [DSU1] [IN] [20 000 000] [DSU2] [IN] [20 000 000] [DSU3] [IN] [20 000 000] [DSU4] [IN*] [20 000 000] [DSU5] [IN] [20 000 000] [DSU7] [IN] [20 000 000] [DSU8] [IN] [20 000 000] [DSU9] [IN] [20 000 000] EMA1 IN{++} 20 000 000 EMA2 IN{++} 20 000 000 EMA3 IN{++} 20 000 000 EMA7 IN{++} 20 000 000 FRO1 DW 20 000 000 FRO2 DW 20 000 000 FRO3 DW 20 000 000 FRO4 DW++ 20 000 000 FRO5 DW 20 000 000 FRO6 DW++ 20 000 000 FRO7 DW 20 000 000 FRO8 DW 20 000 000 FRO9 DW 20 000 000 GAR1 IN{++} 20 000 000 GAR2 IN{++} 20 000 000 GAR3 IN{++} 20 000 000 GAR4 IN*{++} 20 000 000 GAR7 IN{++} 20 000 000 GAR8 IN{++} 20 000 000 [GSC1] [IN] [20 000 000] [GSC3] [IN] [20 000 000] [GSC5] [IN] [20 000 000] [GSC6A] [DW++] [20 000 000] [GSC6B] [DW++] [20 000 000] GSH1 IN 20 000 000 GSH2 IN 20 000 000 GSH3 IN 20 000 000 GSH4 DW++ 20 000 000 GSH5 DW 20 000 000 GSH6 DW++ 20 000 000 GSH7 DW 20 000 000 GSH8 DW 20 000 000 GSH9 DW 20 000 000 GSP1 DW 20 000 000 GSP5 DW 20 000 000 GSP7 DW 20 000 000 [HOR1] [IN] [20 000 000] [HOR2] [IN] [20 000 000] [HOR3] [IN] [20 000 000] [HOR4] [IN*] [20 000 000] [HOR5] [IN] [20 000 000] [HOR6] [DW++] [20 000 000] [HOR7] [IN] [20 000 000] [HOR8] [IN] [20 000 000] [HOR9] [IN] [20 000 000] JMA1 IN 19 999 098 JMA3 DW 19 999 978 [KIC1] [DW] [20 000 000] [KIC2] [DW] [20 000 000] [KIC3] [DW] [20 000 000] [KIC4] [DW++] [20 000 000] [KIC5] [DW] [20 000 000] [KIC6] [DW++] [20 000 000] [KIC7] [DW] [20 000 000] [KIC8] [DW] [20 000 000] [KIC9] [DW] [20 000 000] [KIN1] [IN] [20 000 000] [KIN2] [IN] [20 000 000] [KIN3] [IN] [20 000 000] [KIN4] [IN*] [20 000 000] [KIN7] [IN] [20 000 000] [KIN8] [IN] [20 000 000] LEA1 IN{++} 20 000 000 LEA2 IN{++} 20 000 000 LEA3 IN{++} 20 000 000 LEA4 IN{++}[*] 20 000 000 {LEA17} FW{++} 20 000 000 [MDI1] [IN] [20 000 000] [MDI2] [IN] [20 000 000] [MDI3] [IN] [20 000 000] [MDI4] [IN*] [20 000 000] [MDI5] [IN] [20 000 000] [MDI7] [IN] [20 000 000] [MDI8] [IN] [20 000 000] [MDI9] [IN] [20 000 000] [MMI1] [IN] [20 000 000] [MMI2] [IN] [20 000 000] [MMI3] [IN] [20 000 000] [MMI4] [IN*] [20 000 000] [MMI5] [IN] [20 000 000] [MMI7] [IN] [20 000 000] [MMI8] [IN] [20 000 000] [MMI9] [IN] [20 000 000] OYS7 IN{++} 20 000 000 OYU5 IN{++} 20 000 000 PAD1 IN{++} 20 000 000 PAD2 IN{++} 20 000 000 PAD3 IN{++} 20 000 000 PAD4 IN{++}* 20 000 000 PAD5 IN{++} 20 000 000 PAD6 IN{++}* 20 000 000 PAD7 IN{++} 20 000 000 PAD8 IN{++} 20 000 000 PAD9 IN{++} 20 000 000 [PDO1] [IN] [20 000 000] [PDO2] [IN] [20 000 000] [PDO3] [IN] [20 000 000] [PDO4] [IN*] [20 000 000] [PDO5] [IN] [20 000 000] [PDO7] [IN] [20 000 000] [PDO8] [IN] [20 000 000] [PDO9] [IN] [20 000 000] PIL1 IN{++} 20 000 000 PIL2 IN{++} 20 000 000 PIL3 IN{++} 20 000 000 PIL4 IN*&{++} 20 000 000 PIL7 IN{++} 20 000 000 PIL8 IN{++} 20 000 000 QSC3 IN{++} 20 000 000 RBY1 IN 20 000 000 RBY2 IN 20 000 000 RBY3 IN 20 000 000 RBY4 IN* 20 000 000 RBY5 IN 20 000 000 RBY6 DW++ 20 000 000 RBY7 IN 20 000 000 RBY8 IN 20 000 000 RBY9 IN 20 000 000 RIB1 DW 20 000 000 RIB2 DW 20 000 000 RIB3 DW 20 000 000 RIB4 DW++ 20 000 000 RIB5 DW 20 000 000 RIB6 DW++ 20 000 000 RIB7 DW 20 000 000 RIB8 DW 20 000 000 RIB9 DW 20 000 000 RSK1 IN{++} 20 000 000 RSK3 IN{++} 20 000 000 RSK7 IN{++} 20 000 000 RSK8 IN{++} 20 000 000 [SAE1] [IN] [20 000 000] [SAE2] [IN] [20 000 000] [SAE3] [IN] [20 000 000] [SAE4] [IN*] [20 000 000] [SAE5] [IN] [20 000 000] [SAE7] [IN] [20 000 000] [SAE8] [IN] [20 000 000] [SAE9] [IN] [20 000 000] SBW1 DW 20 000 000 SBW6A DW++ 20 000 000 SBW6B DW++ 20 000 000 S[B]W6I DW++ 20 000 000 SBW6R DW++ 20 000 000 SCA1 IN 20 000 000 SCA4 IN{++} 20 000 000 SCACS IN 20 000 000 [SCC1A] [IN] [20 000 000] [SCC1B] [IN] [20 000 000] [SCC2A] [IN] [20 000 000] [SCC2B] [IN] [20 000 000] [SCC3] [IN] [20 000 000] [SCC4] [IN*] [20 000 000] [SCC5A] [IN] [20 000 000] [SCC5B] [IN] [20 000 000] [SCC6] [DW++] [20 000 000] [SCC7A] [IN] [20 000 000] [SCC7B] [IN] [20 000 000] [SCC7D] [IN] [20 000 000] [SCC8] [IN] [20 000 000] [SCC9] [IN] [20 000 000] SFE17 FW{++} 20 000 000 SPE1 IN 20 000 000 SPE2 IN 20 000 000 SPE3 IN 20 000 000 SPE4 DW++ 20 000 000 SPE5 DW 20 000 000 SPE6 DW++ 20 000 000 SPE7 DW 20 000 000 SPE8 DW 20 000 000 SPE9 DW 20 000 000 SPR1 IN{++} 20 000 000 SPR3 IN{++} 20 000 000 SPR4 IN*{++} 20 000 000 SPR7 IN&{++} 20 000 000 SSK1 {IN++}[DW] 20 000 000 SSK3 {IN++}[DW] 20 000 000 SSK7 {IN++}[DW] 20 000 000 SSK8 {IN++}[DW] 20 000 000 SUR1A IN{++} 20 000 000 SUR1B IN{++} 20 000 000 SUR2A IN{++} 20 000 000 SUR2B IN{++} 20 000 000 SUR3 IN{++} 20 000 000 SUR4 IN*{++} 20 000 000 SUR5 IN{++} 20 000 000 SUR7A IN{++} 20 000 000 SUR7B IN{++} 20 000 000 SUR8 IN{++} 20 000 000 SUR9 IN{++} 20 000 000 TRU1 IN 20 000 000 TRU2 IN 20 000 000 TRU3 IN 20 000 000 TRU4 IN* 20 000 000 TRU5 IN 20 000 000 TRU6 DW++ 20 000 000 TRU7 IN 20 000 000 TRU8 IN 20 000 000 TRU9 IN 20 000 000 WWA1 DW 20 000 000 WWA2 DW 20 000 000 WWA3 DW 20 000 000 WWA4 DW++ 20 000 000 WWA5 DW 20 000 000 WWA6 DW++ 20 000 000 WWA7 DW 20 000 000 WWA8 DW 20 000 000 WWA9 DW 20 000 000 YEM1 IN 20 000 000 YEM2 IN 20 000 000 YEM3 IN 20 000 000 YEM4 IN* 20 000 000 YEM5 IN 20 000 000 YEM6 DW++ 20 000 000 YEM7 IN 20 000 000 YEM8 IN 20 000 000 YEM9 IN 20 000 000 Total {3 459 999 076} [5 639 999 076] *For the allocation of this inshore quota see sections 110 and 111. ++For the allocation of this deepwater quota see sections 110 and 111. {++Quota management stock description yet to be classified.} Part 3 Quota shares referred to in section 112 Quota management stock Quota shares ANC10 20 000 000 BAR10 10 000 000 BCO10 10 000 000 BNS10 10 000 000 BUT10 20 000 000 BYX10 10 000 000 CDL10 20 000 000 [CHC10] [20 000 000] CRA10 10 000 000 ELE10 10 000 000 EMA10 20 000 000 FLA10 10 000 000 FRO10 20 000 000 GAR10 20 000 000 GMU10 10 000 000 [GSC10] [20 000 000] GSH10 20 000 000 GUR10 10 000 000 HAK10 10 000 000 HOK10 10 000 000 [HOR10] [20 000 000] HPB10 10 000 000 JDO10 10 000 000 [KIC10] [20 000 000] [KIN10] [20 000 000] JMA10 10 000 000 LEA10 20 000 000 LIN10 10 000 000 MOK10 10 000 000 OEO10 10 000 000 ORH10 10 000 000 PAD10 20 000 000 PAU10 10 000 000 PIL10 20 000 000 RBY10 20 000 000 RCO10 10 000 000 RIB10 20 000 000 RSK10 20 000 000 [SCC10] [20 000 000] SCH10 10 000 000 SKI10 10 000 000 SNA10 10 000 000 SPE10 20 000 000 SPO10 10 000 000 SPR10 20 000 000 SQU10T 10 000 000 SSK10 20 000 000 STA10 10 000 000 SUR10 20 000 000 SWA10 10 000 000 TAR10 10 000 000 TRE10 10 000 000 TRU10 20 000 000 WAR10 10 000 000 WWA10 20 000 000 YEM10 20 000 000 Total {700 000 000} [840 000 000] Schedule 2 ss 5, [7, 8,] 109[(1), (2)] Harbours and harbour quota Part 1 Harbours and harbour entrance points Harbours Entrance Longitude Latitude North Island Parengarenga North 172o59.355' 34o31.343' South 172o59.417' 34o31.846' Houhora North 173o09.348' 34o49.544' South 173o09.264' 34o49.641' Rangaunu North 173o15.772' 34o53.061' South 173o17.153' 34o51.843' Mangonui North 173o31.480' 34o58.927' South 173o31.680' 34o58.798' Whangaroa North 173o45.418' 35o0.127' South 173o46.011' 35o0.413' Upper Bay of Islands--- Te Puna North 174o04.088' 35o11.740' Inlet South 174o04.244' 35o12.779' Upper Bay of Islands--- Waikare North 174o04.665' 35o14.709' Inlet South 174o06.704' 35o15.135' Whangaruru North 174o22.531' 35o22.755' South 174o22.167' 35o24.886' Whangarei North 174o31.791' 35o51.841' South 174o30.057' 35o50.585' Mangawhai North 174o27.790' 35o53.984' South 174o27.674' 35o54.479' Whitianga North 175o44.852' 36o47.563' South 175o46.086' 36o49.305' Tairua North 175o52.061' 37o0.413' South 175o51.798' 37o0.527' Tauranga---Katikati entrance North 175o59.492' 37o28.002' South 175o59.745' 37o28.455' Tauranga---Mt Maunganui entrance North 176o09.646' 37o38.252' South 176o10.086' 37o38.246' Ohiwa North 177o08.751' 37o59.276' South 177o09.629' 37o59.377' Aotea and Kawhia---Kawhia North 174o46.862' 38o05.191' South 174o46.460' 38o05.391' Aotea and Kawhia---Aotea North 174o47.829' 38o01.084' South 174o47.981' 38o01.189' Raglan North 174o50.465' 37o48.089' South 174o50.497' 37o48.318' Port Waikato North 174o42.540' 37o22.049' South 174o42.312' 37o22.460' Manukau North 174o31.848' 37o02.052' South 174o32.507' 37o02.950' Kaipara North 174o09.438' 36o23.270' South 174o11.705' 36o25.989' Hokianga North 173o21.416' 35o31.511' South 173o21.822' 36o32.553' Marlborough Sounds Croisilles Harbour North 173o40.262' 41o02.322' South 173o35.629' 41o03.211' Pelorus Sound North (Clay 174o01.398' 40o54.737' Point) South (Alligator 174o09.531' 40o58.180' Head) Queen Charlotte Sound (northern North (Cape 174o18.896' 40o59.742' entrance) Jackson) South (Cape 174o22.957' 41o05.389' Koamaru) Queen Charlotte South (East and North (East Head) 174o19.358' 41o12.748' West Head entrance) South (West Head) 174o18.913' 41o12.918' Part 2 Harbour quota (expressed as quota shares) Fishstocks BCO7 ELE7 FLA1 FLA7 GMU1 GUR1 RCO7 SCH1 SCH7 SNA1 SNA7 SNA8 SPO1 SPO7 TRE1 TRE7 Harbours Parengarenga 34 000 50 000 2 000 40 000 Houhora 8 000 20 000 Rangaunu 34 000 50 000 2 000 20 000 Mangonui 34 000 60 000 2 000 30 000 Whangaroa 34 000 26 000 Upper Bay of 17 000 50 000 4 000 13 000 Islands Whangaruru 17 000 20 000 4 000 13 000 Whangarei 168 000 300 000 75 000 22 000 64 000 467 000 Mangawhai 16 000 30 000 4 000 3 000 Whitianga Tairua Tauranga 51 000 2 000 27 000 467 000 Ohiwa 30 000 Aotea and 24 000 50 000 4 000 13 000 Kawhia Raglan 24 000 50 000 4 000 13 000 Port Waikato 16 000 700 000 13 000 Manukau 827 000 1 749 000 9 000 100 7 000 667 000 125 000 Kaipara 1 238 000 2 446 700 15 000 430 000 3 900 459 300 124 100 Hokianga 80 000 80 000 45 000 18 000 64 000 66 000 Marlborough 160 000 590 000 96 000 16 000 94 000 250 000 90 000 Sounds New (majority) --------------------------------------------------------------------------------------------------------------------------------------- Fishstocks BUT1 BUT7 COC1A EMA1 EMA7 GAR1 GAR7 JMA1 JMA7 LEA2 {{MAK1}} {{NSD1}} OYS7 PAD1 PAD7 SPE1 SPE7 Harbours Parengarenga 700 160 {{900}} {{37 900}} 3 800 Houhora 400 100 {{400}} {{19 300}} 1 900 Rangaunu 3 300 700 {{4 000}} {{171 400}} 17 100 Mangonui 700 200 {{900}} {{37 900}} 3 800 Whangaroa 400 000 2 000 2 200 000 600 333 800 7 400 Upper Bay of 300 000 1 500 1 649 100 400 250 000 5 200 Islands Whangaruru 60 000 300 274 500 100 41 900 1 000 Whangarei 760 000 20 000 000 3 800 4 123 600 1 100 625 000 13 300 Whitianga 57 400 Tauranga 1 600 3 837 900 600 1 410 800 Aotea/Kawhia 900 100 {{4 101 500}} Raglan 200 Port Waikato 900 Manukau 100 Kaipara Marlborough 5 549 200 16 796 700 64 300 271 200 20 000 000 406 800 2 340 000 Sounds --------------------------------------------------------------------------------------------------------------------------------------- New (majority) ------------------------------------------------------------------------------- Fishstocks SSK7 SSK8 {{SUR7}} YEM1 YEM7 YEM9 [[SUR7A]] Harbours Parengarenga Houhora Rangaunu Mangonui Whangaroa 911 100 Upper Bay of Islands 684 400 Whangaruru 113 300 Whangarei 1 708 900 Whitianga Tauranga 4 522 500 Aotea/Kawhia Raglan 1 017 300 Port Waikato 4 069 300 Manukau 17 164 000 11 072 000 Kaipara 920 000 Marlborough Sounds 103 900 5 304 300 14 940 000 ------------------------------------------------------------------------------- Schedule 3 ss 5, 10 Iwi [(listed by groups of iwi) and notional iwi populations] Struck out (majority) ======================================================================= Part 1 Iwi (listed by groups of iwi) and notional iwi populations ======================================================================= Name of iwi and group Notional Percentage Number of iwi of total members population{(1)} notional required on iwi register of population iwi members to meet requirements of section {101(4)}[14(1)(d)] A TAITOKERAU Ngati Whatua 13 113 1.931 3 000 Te Rarawa 11 998 1.767 2 800 Te Aupouri 8 168 1.203 2 100 Ngati Kahu 7 244 1.067 1 900 Ngati Kuri 4 841 0.713 1 400 Ngati Wai 4 115 0.606 1 300 Ngapuhi/Ngati Kahu 2 040 0.300 800 ki Whaingaroa Ngai Takoto 509 0.075 200 52 028 7.66{1}[2] B NGAPUHI Ngapuhi 107 242 15.791 {{10 900}} [[21 400]] 107 242 15.791 C TAINUI Waikato 46 526 6.851 {7 300} [9 300] Ngati Maniapoto 30 857 4.543 {5 300} [6 100] {Hauraki (twelve 13 622 2.006 3 100 iwi)}[Iwi of Hauraki](2) Ngati Raukawa (ki 9 051 1.333 2 300 Waikato) 100 056 14.733 D TE ARAWA WAKA Te Arawa(3) 40 533 5.968 {6 600} [8 100] [Ngati] Tuwharetoa 34 226 5.040 {5 700} [6 800] 74 759 11.008 E MATAATUA Tuhoe 29 726 4.377 {5 100} [5 900] Ngati Awa 13 252 1.951 3 000 Ngaiterangi 10 451 1.539 2 500 Whakatohea 10 107 1.488 2 500 Ngati Ranginui 6 631 0.976 1 700 Ngai Tai 2 266 0.334 900 Ngati Manawa 1 567 0.231 600 Ngati Pukenga 1 243 0.183 500 Ngati Whare 701 0.103 300 75 944 11.182 F POROURANGI Ngati Porou 63 613 9.367 9 000 [12 700] Te Whanau a Apanui 10 113 1.489 2 500 73 726 10.856 G TAKITIMU Ngati Kahungunu 53 478 7.874 {{8 000}} [[10 600]] Te Aitanga a 4 501 0.663 1 400 Mahaki Rongowhakaata 3 728 0.549 1 300 Ngai Tamanuhiri 1 207 0.178 500 62 914 9.264 H HAUAURU Te Atiawa 14 147 2.083 3 200 (Taranaki) Te Atihaunui a 9 780 1.440 2 400 Paparangi Taranaki 6 001 0.884 1 600 Ngati Ruanui 5 675 0.836 1 500 Rangitane (North 3 321 0.489 1 200 Island) Nga Rauru 3 285 0.484 1 200 Nga Ruahine 3 276 0.482 1 200 Ngati Apa (North 2 461 0.362 900 Island) Muaupoko 1 901 0.280 800 Ngati Mutunga 1 652 0.243 700 (Taranaki) Ngati Tama 1 201 0.177 500 (Taranaki){`} Ngati Hauiti 1 039 0.153 400 Ngati Maru 907 0.134 400 (Taranaki) 54 646 8.04{6}[7] I TE MOANA O RAUKAWA Ngati Raukawa (ki 19 698 2.900 3 900 te Tonga) {Ngati Toa {4 955} {0.730} {1 400} (Wellington)} [Ngati [5 202] [0.766] [1 500] Toarangatira] Te Atiawa 1 761 0.259 760 (Wellington) Te Atiawa (Te Tau 1 965 0.289 800 Ihu) Ngati Kuia 1 266 0.186 500 Rangitane (Te Tau 1 258 0.185 500 Ihu) Ngati Koata 885 0.130 400 Ngati Rarua 805 0.119 400 Ngati Apa ki te 649 0.096 300 Waipounamu Ngati Tama (Te Tau 628 0.092 300 Ihu) Atiawa ki 493 0.073 200 Whakarongotai {Ngati Toa (Te Tau {247} {0.036} {100} Ihu)} 34 610 5.09{6}[5] J WAIPOUNAMU/REKOHU Ngai Tahu 41 496 6.110 {6 700} [8 200] Ngati Mutunga 1 132 0.167 500 (Chathams) Moriori 601 0.088 300 43 229 6.365 [Total notional iwi population] 679 154 Struck out (majority) ================================================================================ Part 2 Notes to Part 1 Notional iwi populations (1) The populations shown are notional populations of iwi affiliates, derived from the 2001 Census, and adjusted in accordance with the methodology described in Appendix 3 of He Kawai Amokura, pages 268 to 269. ================================================================================ [Notes---]Iwi of Hauraki and Te Arawa (2) The {Hauraki iwi} [iwi of Hauraki], whose notional population is set out in column 2 {of Part 1} [of this schedule], must be treated as one iwi for the purposes of {this Act} [Part 3]. The iwi of Hauraki are: Ngati Hako Ngati Hei Ngati Maru Ngati Paoa Patukirikiri Ngati Porou ki Harataunga, ki Mataroa Ngati Pukenga ki Waiau Ngati Rahiri Tumutumu Ngai Tai Ngati Tamatera Ngati Tara Tokanui Ngati Whanaunga. (3) The {{Te Arawa iwi}} [[iwi of Te Arawa]], whose notional population is set out in column 2 {of Part 1} [of this schedule] must be treated as one iwi for the purposes of {this Act} [Part 3]. The {{Te Arawa iwi}} [[iwi of Te Arawa]] are: [Ngati Makino] Ngati Pikiao Ngati Rangiteaorere Ngati Rangitihi Ngati Rangiwewehi Ngati Tahu[/Ngati Whaoa] Tapuika Tarawhai Tuhourangi Te Ure o Uenuku-Kopako/Ngati Whakaue Waitaha. New (majority) ----------------------------------------------------------------------- Schedule 3A ss 5, 17 Organisations that are recognised iwi organisations (as at the commencement of this Act) Name of iwi and group Organisation A TAITOKERAU Ngati Whatua Te Runanga o Ngati Whatua Te Rarawa Te Runanga o Te Rarawa Ngati Kahu Te Runanga-a-iwi o Ngati Kahu Ngati Kuri Ngatikuri Trust Board Incorporated Ngati Wai Ngati Wai Trust Board Ngapuhi/Ngati Kahu ki Whaingaroa Te Runanga o Whaingaroa Ngai Takoto RONAN Trust B NGAPUHI Ngapuhi Te Runanga a Iwi o Ngapuhi C TAINUI Waikato Waikato Raupatu Lands Trust Ngati Maniapoto Maniapoto Maori Trust Board Iwi of Hauraki Hauraki Maori Trust Board Ngati Raukawa (ki Waikato) Raukawa Trust Board D TE ARAWA WAKA Te Arawa (ten iwi) Te Kotahitanga o Te Arawa Waka Fisheries Trust Board Ngati Tuwharetoa Ngati Tuwharetoa Marine Fisheries Committee E MATAATUA Tuhoe Tuhoe-Waikaremoana Maori Trust Board Ngati Awa Te Runanga o Ngati Awa Ngaiterangi Ngaiterangi Iwi Society Incorporated Whakatohea Whakatohea Maori Trust Board Ngati Ranginui Ngati Ranginui Iwi Society Incorporated Ngai Tai Ngaitai Iwi Authority Ngati Manawa Te Runanga o Ngati Manawa Ngati Pukenga Ngati Pukenga Iwi ki Tauranga Society Incorporated Ngati Whare Te Runanga o Ngati Whare Iwi Trust F POROURANGI Ngati Porou Te Runanga o Ngati Porou Te Whanau a Apanui Te Runanga o Te Whanau G TAKITIMU Ngati Kahungunu Ngati Kahungunu Iwi Incorporated Te Aitanga a Mahaki Te Aitanga a Mahaki Trust Rongowhakaata Rongowhakaata Charitable Trust Ngai Tamanuhiri Ngai Tamanuhiri Whanui Charitable Trust H HAUAURU Te Atiawa (Taranaki) Te Atiawa Iwi Authority Incorporated Te Atihaunui a Paparangi Whanganui River Maori Trust Board Taranaki Te Runanga o Taranaki Iwi Incorporated Ngati Ruanui Te Runanga o Ngati Ruanui Trust Rangitane (North Island) Te Runanganui o Rangitane Incorporated Nga Rauru Nga Rauru Iwi Authority Society Incorporated Nga Ruahine Nga Ruahine Iwi Authority Ngati Apa (North Island) Te Runanga o Ngati Apa Society Incorporated Muaupoko Muaupoko Tribal Authority Incorporated Ngati Mutunga (Taranaki) Ngati Mutunga Iwi Authority Incorporated Ngati Tama (Taranaki) Te Runanga o Ngati Tama Ngati Hauiti Te Runanga o Ngati Hauiti Ngati Maru (Taranaki) Ngati Maru Pukehou Trust I TE MOANA O RAUKAWA Ngati Raukawa (ki te Tonga)Te Runanga o Raukawa Incorporated Ngati Toarangatira Te Runanga o Toa Rangatira Incorporated Te Atiawa (Te Tau Ihu) Te Atiawa Manawhenua ki te Tau Ihu Trust Ngati Kuia Te Runanga o Ngati Kuia Charitable Trust Rangitane (Te Tau Ihu) Te Runanga a Rangitane o Wairau Incorporation Ngati Koata Ngati Koata No Rangitoto ki te Tonga Trust Ngati Rarua Ngati Rarua Iwi Trust Ngati Apa ki te Waipounamu Ngati Apa ki te Ra To Incorporated Ngati Tama (Te Tau Ihu) Ngati Tama Manawhenua ki te Tau Ihu Trust Atiawa ki Whakarongotai Te Runanga o Ati Awa ki Whakarongotai Incorporated J WAIPOUNAMU/REKOHU Ngai Tahu Te Runanga o Ngai Tahu Moriori Hokotehi Moriori Trust ----------------------------------------------------------------------- Schedule 4 ss 5, 19 Representative Maori organisations Federation of Maori Authorities Manukau Urban Maori Authority Maori Women's Welfare League New Zealand Maori Council Te Runanga o Nga Maata Waka Incorporated Te Runanganui o te Upoko o Te Ika Association Incorporated Te Whanau O Waipareira Trust. Schedule 5 s 11 [(1), (2)] Methodology for determination of coastline entitlements 1 Overview of methodology and status of examples (1) The methodology by which the coastline {{entitlement}} [[entitlements]] of iwi must be determined in respect of quota management stocks comprises--- (a) the process set out in clauses 2 to 9 which must be followed in making determinations under section 11; and (b) a geographic information system computation model, described in clauses 10 to 12, that is based on--- (i) a specified map database of the coastline of New Zealand; and (ii) specified decision rules; and (iii) matters relevant to creating and maintaining the computation model. (2) An example used in this schedule is only illustrative of the provision to which it relates, and does not limit the provision. (3) If an example and the provision to which it relates are inconsistent, the provision prevails. Part 1 Determination of coastline entitlements Process for making coastline claim 2 Interpretation In this Part of this schedule,--- affected iwi means, in relation to a coastline claim for a particular quota management stock, an iwi whose mandated iwi organisation has made, or is likely to make, coastline claims that abut, overlap, or are contained within, the specified points used in the coastline claims of the claimant iwi for that stock coastal boundary point means any point on the mean high-water mark whose co-ordinates are defined under the Fisheries Act 1996 coastal endpoint means a point on the mean high-water mark that is defined in the description of a quota management area under the Fisheries Act 1996 harbour entrance point means a point on the mean high-water mark on either the northern or southern entrance{, point of a harbour} [of the harbour, the coordinates of which are] listed in Part 1 of Schedule 2 New (majority) ----------------------------------------------------------------------- specified point means a point on the coastline that complies with clause 3(1A)(b). ----------------------------------------------------------------------- 3 Method of making coastline claim (1) To enable Te Ohu Kai Moana Trustee Limited to make a determination of the coastline entitlements of an iwi as required by section 11, the mandated iwi organisation of that iwi must submit to Te Ohu Kai Moana Trustee Limited {a coastline claim that contains a schedule listing}--- (a) [a coastline claim for] each quota management stock included in Schedule 1{, and each stock for which harbour quota has been classified under section 7,} for which the iwi {wishes to make a coastline claim} [is entitled to receive an allocation based on coastline under sections 106 to 108]; and Struck out (majority) ======================================================================= (b) for each stock listed, 2 specified points on the coastline, each of which must be--- (i) a coastal boundary point; or (ii) a harbour entrance point; or (iii) a point on the mean high-water mark with co-ordinates certified by a registered cadastral surveyor; and (c) a percentage representing the proportion of the coastline between the 2 specified points that the mandated iwi organisation is claiming for that stock; and (d) for each stock listed, all affected iwi for that stock. ======================================================================= New (majority) ----------------------------------------------------------------------- (b) coastline claims for each stock for which harbour quota is listed in Part 2 of Schedule 2 and for which the iwi is entitled to receive an allocation under section 109. (1A) A coastline claim for each stock must identify--- (a) the quota management stock; and (b) 2 specified points on the coastline, each of which must be--- (i) a coastal boundary point; or (ii) a harbour entrance point; or (iii) a point on the mean high-water mark with co-ordinates certified by a registered cadastral surveyor; and (c) a percentage representing the proportion of the coastline between the 2 specified points that the mandated iwi organisation is claiming for that stock; and (d) all affected iwi for that claim. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (2) A claim submitted by a mandated iwi organisation under this clause may cover all, or only some, of the stocks for which coastline entitlements are required for that iwi. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) A coastline claim submitted under this clause may--- (a) contain all, or only some, of the coastline claims necessary to enable Te Ohu Kai Moana Trustee Limited to determine all the coastline entitlements [[for the mandated iwi organisation, as]] required by section 101(4)(b): (b) be an interim coastline claim as provided for in clause 3A or a supplementary coastline claim as provided for in clause 3B. Example relating to clause 3 Either of the points may be a point on the mean high-water mark taken from the description of the relevant quota management area boundary for the stock, as set out in Part III of the First Schedule of the Fisheries Act 1996 or otherwise defined under that Act.If the 2 specified points mark out the 2 extremities of a claimant's territory, the percentage claimed would be 100%. If a mandated iwi organisation has agreed a percentage split with other mandated iwi organisations, they may set out the points marking out the whole area to which the agreement relates, and the percentage of that area assigned by agreement to the claimant iwi. 3A Interim coastline claims (1) If 2 mandated iwi organisations are unable to reach agreement to allow their coastline claims to be made under clause 3, but are able to agree in writing to the geographical extent of the coastline under dispute, each may submit an interim coastline claim based on the undisputed coastline. (2) An interim coastline claim must comply with the requirements of clause 3, except that it must exclude the area of coastline under dispute. Struck out ======================================================================= ======================================================================= (3) Following verification under clause 8, interim coastline claims may be used to determine a coastline entitlement under clause 9 to be registered as interim coastline entitlements under section 11. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (3) Following verification under clause 8, an interim coastline claim may be used to determine under clause 9 a coastline entitlement that is then registered as an interim coastline entitlement. ----------------------------------------------------------------------- ----------------------------------------------------------------------- (4) An interim coastline entitlement for a quota management stock satisfies the requirements of section 101(4)(b) for that stock. ----------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------- 3B Supplementary coastline claims (1) If, after the registration of an interim coastline entitlement, a dispute referred to in clause 3A(1) is resolved, the affected mandated iwi organisations may make supplementary coastline claims for relevant stocks within the coastline that was the subject of the dispute. (2) A supplementary coastline claim--- (a) must be made--- (i) using the method set out in clause 3; and (ii) solely in respect of the coastline previously in dispute; and (b) must not be submitted as an interim coastline claim for the coastline previously in dispute. [PLEASE REFER TO HARDCOPY FOR ARTWORK] ----------------------------------------------------------------------- 4 Endorsements required in support of claim (1) {A} [Any coastline] claim submitted under clause 3 must {also include} [be accompanied by] endorsements from the mandated iwi organisation of each iwi {listed in the schedule, in relation to each stock for which they are listed as an affected iwi} [that is an affected iwi in respect of the claim]. (2) Endorsements may be presented in the form of either or both of the following: (a) copies of signed multi-party mandated iwi organisation agreements that include the affected iwi: (b) signed written statements from the mandated iwi organisations of the affected iwi. (3) Agreements or statements presented under subclause (2) must set out--- (a) the stocks for which the iwi is an affected iwi for the purpose of the claims being made; and (b) for each stock, the agreement of the mandated iwi organisation of the affected iwi to the specified point or points in respect of which it is an affected iwi; and (c) for each stock for which the mandated iwi organisation of the affected iwi has made or intends to make a coastline claim between the specified points identified for that stock by the claimant, the agreement of the mandated iwi organisation of the affected iwi to the percentage {of} [stated in the] coastline {claimed in the claimant's schedule} [claim]; and New (majority) ----------------------------------------------------------------------- (d) in the case of an agreement supporting an interim coastline claim under clause 3A, 2 specified points that define the disputed portion of coastline. ----------------------------------------------------------------------- (4) The co-ordinates of all specified points, except harbour entrance points or coastal boundary points, must be supported in a report from a registered cadastral surveyor. (5) If any part of a claim has been the subject of dispute resolution under clause {11} [7], the documentation of that process may be used to support a claim instead of the endorsements referred to in subclause (1), but the documentation must clearly set out the information required under subclause (3). 5 Agreements Before a mandated iwi organisation submits a claim under clause 3 to Te Ohu Kai Moana Trustee Limited, it must take reasonable steps to reach agreements, in relation to the data {to be included in the schedule} required by clause {3(1)} [3(1A)], with every affected iwi as to the matters set out under clause 4(3)[(a) to (c)]. 6 Registration of agreements (1) A mandated iwi organisation may, at any time, request Te Ohu Kai Moana Trustee Limited to verify and subsequently place on the iwi register any agreement made by mandated iwi organisations relating to coastline claims to which it is a party. (2) If a request is made under subclause (1), Te Ohu Kai Moana Trustee Limited must attempt to verify the agreement by the {application of the} procedures set out in clause 8. (3) If Te Ohu Kai Moana Trustee Limited is able to verify an agreement under subclause (2), it must record the details of the agreement on the iwi register. (4) The registration of an agreement under this clause binds the parties to the terms of the agreement for any coastline claims to which it is relevant, unless the agreement is withdrawn by written consent of all the parties. 7 Dispute resolution (1) If a mandated iwi organisation is unable to reach an agreement required by clause 5, the dispute must be resolved in accordance with sections 140 and 141. (2) Once resolutions are reached under the dispute resolution process,--- (a) the points and percentages settled in that process must be included in any relevant coastline claim submitted under clause 3(1); and (b) the signed documentation of the resolution of the dispute must be included with the endorsement of the claim required by clause 4(1). Process for verifying coastline claims and determining entitlements 8 Verification of coastline claim (1) After receiving a coastline claim {in accordance with clauses 3 and 4} [under clause 3], Te Ohu Kai Moana Trustee Limited must--- (a) attempt to verify that all the data required by clause 3 [or clause 4(3)(d)] has been supplied for each stock {included in the claim} [for which a claim is made]; and (b) attempt to verify that each specified point is--- (i) a coastal boundary point; or (ii) a harbour entrance point; or (iii) is shown as a co-ordinate that has been provided by, and is supported in a report from, a registered cadastral surveyor; and (c) satisfy itself that,--- (i) for each stock for which a coastline claim is made, there are endorsements as required by clause 4(1); and (ii) if a claim for a stock is for less than 100% of the coastline between the specified points, the total of the percentages [of the coastline between the specified points] assigned to the iwi in the agreement supporting that claim is 100%; and (iii) if any part of a coastline claim has been the subject of a dispute resolution process in accordance with clause 7, there is appropriately authorised documentation of the outcome of the process to support the claim. (2) If Te Ohu Kai Moana Trustee Limited is not able to verify an aspect of a coastline claim, it must refer that matter back to the claimant. (3) A claimant may clarify the matter referred to it under subclause (2) and resubmit its coastline claim in respect of the affected quota management stocks. 9 Determination of entitlements (1) Before the determination of a coastline entitlement under this clause, Te Ohu Kai Moana Trustee Limited must determine the length of the relevant quota management area by applying the 2 coastal endpoints for the area as input to the computation model described in Part 2 of this schedule. (2) When Te Ohu Kai Moana Trustee Limited has verified the matters set out in clause 8(1)(a) and (b) and is satisfied of the matters set out in clause 8(1)(c), it must determine coastline entitlements as follows: (a) for each {stock listed in the schedule of the} [coastline] claim, the data representing the 2 specified points must be applied as input to the computation model to produce output that represents the coastline length between the 2 points; and (b) using the coastline length of the relevant quota management area determined under subclause (1), the percentage of the quota management area coastline represented by the result obtained from the calculation under paragraph (a) must be determined; and (c) the result obtained from the determination under paragraph (b) must be multiplied by the percentage set out in {the schedule of} the claim, as required by clause {3(1)(c)} [3(1A)(c)]; and (d) the result obtained from the calculation under paragraph (c) must be multiplied by the total number of settlement quota shares {for that stock} to be allocated on the basis of coastline [for the stock that is the subject of the claim]. (3) For each stock, the results obtained from calculations made under subclause {(1)} [(2)](c) and (d) together describe the coastline entitlement for the claimant iwi. Examples for clause 9 o If the stock is an inshore stock, the entitlement is a percentage of the total settlement quota for that stock, and the equivalent number of quota shares. o If the stock is a deepwater stock, the entitlement is a percentage of the part of the settlement quota that is allocated on the basis of coastline (ie, 25% of the total settlement quota for the stock, and the equivalent number of quota shares). Part 2 Computation model 10 Requirement for computation model (1) Before making the first calculation of coastline lengths to be used to determine coastline entitlements for the purposes of section 11, Te Ohu Kai Moana Trustee Limited must ensure that an appropriate computation model is created for the purpose of calculating coastline lengths between 2 specified co-ordinates on the mean high-water mark. (2) Te Ohu Kai Moana Trustee Limited must ensure that, after the first application under clause 9 of the computation model to produce results to be used to determine a coastline entitlement, there are no alterations to--- (a) the software, algorithms, or computer code of the model; or (b) the specified baselines; or (c) the specified decision rules; or (d) the hardware platform for the model. (3) Subclause (2) does not exclude alterations to the model unless the alteration would mean that a recalculation of a coastline length, using the input data used for a completed determination under clause 9, would produce an output differing from the original result by more than 1%. (4) Te Ohu Kai Moana Trustee Limited must ensure that the records of all input data applied to, and output data derived from, the computation model for determining coastline entitlements are preserved for not less than 10 years. 11 Specified baselines (1) The computation model used for determining coastline entitlements must use the following baselines: (a) the map database created for the purpose by Land Information New Zealand from the 1:50 000 topographical map series; and (b) the coastal endpoints of each quota management area; and (c) the harbour entrance points. (2) Coastlines must be defined along the line of the mean high-water mark. (3) For each quota management area, Te Ohu Kai Moana Trustee Limited must specify a date upon which the coastal endpoints referred to in subclause (1) are definitive, and any later change to the quota management area under the Fisheries Act 1996 has no effect for the purpose of determining coastline entitlements under this Act. 12 Decision rules for computation model The calculation of coastline lengths must be based on the following decision rules in relation to the specified geographical features: River mouth (a) Rivers are cut off where the mean high-water mark meets the natural entrance points of the river, and the distance across the river mouth is included in the coastline length. Bays (b) A bay is an indentation of the coast,--- (i) the area of which is not less than the area of a semicircle with a diameter drawn across the mouth of the indentation; and (ii) the length of the diameter referred to in subparagraph (i) is 10 km or less. (c) The straight line drawn across the mouth of a bay is substituted for the actual coastline of the bay in the calculation of coastline length. (d) The presence of islands at the mouth of, or within, an indentation does not affect the calculations necessary to determine whether an indentation is a bay. Offshore islands (e) An offshore island is a naturally formed area of land that, at mean high-water tides, is--- (i) surrounded by water; but (ii) not submerged by water. (f) The coastlines of the following offshore islands must be counted as coastlines of the relevant quota management areas: (i) Stewart/Rakiura: (ii) Great Barrier/Aotea: New (majority) ----------------------------------------------------------------------- (iii) Motiti. ----------------------------------------------------------------------- (g) The coastlines of other offshore islands must be counted as coastlines of the relevant quota management area if Te Ohu Kai Moana Trustee Limited is satisfied that 1 or more iwi have--- (i) ahi kaaroa (both long-term and current habitation on the island); and (ii) a traditional and separate fishery associated with the island; and (iii) current occupation of the island, as shown by the presence of marae and other communal structures. Chatham Islands (h) For the purpose of calculating the coastline in the Chatham zone, only the coastlines of the following islands are relevant: (i) Chatham Island; and (ii) Pitt Island. Schedule 6 s 14[AB] Kaupapa applying to constitutional documents of mandated iwi organisations Struck out (majority) ======================================================================= The kaupapa set out in this schedule apply to, and must be reflected in, the constitutional documents of every mandated iwi organisation. ======================================================================= New (majority) ----------------------------------------------------------------------- The kaupapa set out in this schedule--- (a) must be provided for in the constitutional documents of every mandated iwi organisation; but (b) only apply for the purposes of this Act. ----------------------------------------------------------------------- Kaupapa of iwi representation Kaupapa 1 (1) All adult members of an iwi must have the opportunity, at intervals not exceeding {5} [3] years, to elect the directors, trustees, or officeholders, as the case may be, of the mandated iwi organisation of the iwi. (2) Elections for individual offices may be held at different times, and for different terms of office. However, no person elected to office may hold office for a period longer than {5} [3] years without facing re-election. Kaupapa 2 [All] adult members of an iwi--- (a) have voting rights--- (i) in elections for the appointment of directors, trustees, or other officeholders of the mandated iwi organisation; and (ii) on amendments to the constitutional documents of the mandated iwi organisation; and New (majority) ----------------------------------------------------------------------- (iii) in relation to the disposal of income shares under section 54; and (iv) in relation to the disposal of settlement quota under sections 123 and 126; and ----------------------------------------------------------------------- (b) may put forward proposals for constitutional change for the consideration of the directors, trustees, or other officeholders, as the case may be. Kaupapa 3 (1) A mandated iwi organisation must ensure that voting rights [of iwi members] are able to be exercised at appropriate times in an election of directors, trustees, or other officeholders, in accordance with the constitutional documents and policies of the mandated iwi organisation, but {this does not confer a right to vote for the employees of the mandated iwi organisation} [iwi members have no right to vote in respect of the appointment of the employees of a mandated iwi organisation.] (2) If a mandated iwi organisation has electronic voting facilities, every adult member of the iwi has the right to vote by electronic means, but electronic voting must not be the only means by which a member may vote]. New (majority) ----------------------------------------------------------------------- Notification of meetings Kaupapa 3A (1) A general meeting of a mandated iwi organisation must be notified by a public notice that must include--- (a) the date and time of the meeting and its venue; and (b) the agenda for the meeting; and (c) where any relevant explanatory documents may be viewed or obtained; and (d) any other information specified by or under this Act. (2) In the case of the general meeting of a mandated iwi organisation required by section 14AB(2) (which relates to ratification of the constitutional documents of the mandated iwi organistion), the meeting must be notified by both--- (a) a public notice that gives--- (i) the information required under subclause (1); and (ii) advice that a vote is to be taken to ratify the constitutional documents of the mandated iwi organisation; and (b) a private notice, sent to every adult member on the register of iwi members, that gives--- (i) the information required for the public notice; and (ii) a copy of the ballot paper for the vote to be taken at the meeting; and (iii) advice as to the address to which, and the date by which, the completed ballot paper must be returned. (3) In the case of a general meeting of a mandated iwi organisation required by kaupapa 2 (which relates to elections), section 14AC (which relates to changing a constitutional document), section 54 (which relates to the disposal of income shares), or by sections 123 or 126 (which relate to the conversion and disposal of settlement quota), the mandated iwi organisation--- (a) must give a public notice that includes--- (i) the information required under subclause (1)(a); and (ii) the matter or issues on which the vote is to be taken; and (b) must give a private notice with the information required under subclause (2)(b) to any adult member of the iwi who,--- (i) at the time of registering on the register of iwi members, made a written request to be sent a private notice and postal ballot papers for every meeting relating to 1 or more of the relevant provisions; or (ii) whether or not on the register, makes a written request for a private notice in respect of a particular meeting. ----------------------------------------------------------------------------- Struck out (majority) ============================================================================= Kaupapa 4 The policy of a mandated iwi organisation relating to the rights of whangai or other persons who do not descend from an ancestor of the iwi--- (a) must be determined in accordance with the tikanga of the iwi; and (b) must be stated in the constitutional documents of the mandated iwi organisation. In this kaupapa, whangai refers to a person adopted into an iwi but who does not descend from a primary ancestor of the iwi. Kaupapa 5 Every adult member of an iwi also has the right--- (a) to request and exercise a personal postal vote for the election of directors, trustees, or officeholders, as the case may be; or (b) to consider amendments to the constitution, trust deed, or rules, as the case may be; and (c) if the mandated iwi organisation has electronic voting facilities, to vote by electronic means (but electronic voting must not be the only way in which votes may be cast). ============================================================================== New (majority) ----------------------------------------------------------------------------- Iwi membership ----------------------------------------------------------------------------- Kaupapa 6 Struck out (majority) ============================================================================= Every mandated iwi organisation must have, and maintain in a current state, a register of the details of every iwi member who applies for registration (or on whose behalf an application is made by a parent or guardian), and make ongoing efforts to add all iwi members to the register. ============================================================================== New (majority) ----------------------------------------------------------------------------- Every mandated iwi organisation must--- (a) have, and maintain in a current state, a register of iwi members--- (i) that includes the name, date of birth, and contact details of every member of the iwi who applies for registration; and (ii) that is available for inspection by registered members of the iwi; and (b) provide for--- (i) adult members of the iwi to register themselves; and (ii) other members to be registered by a parent or legal guardian; and (iii) persons registering on the register of iwi members to be able to state whether they wish to receive a private notice for general meetings and postal ballot papers relating to the matters listed in subclause (3) of kaupapa 3A; and (c) make ongoing efforts to register all iwi members. Kaupapa 6A (1) The policy of a mandated iwi organisation relating to the rights of whangai or other persons who do not descend from a primary ancestor of the iwi must be--- (a) determined in accordance with the tikanga of the iwi; and (b) stated in the constitutional documents of the mandated iwi organisation (2) In this kaupapa, whangai refers to a person adopted by a member of an iwi in accordance with the tikanga of that iwi, but who does not descend from a primary ancestor of the iwi. Accountability ----------------------------------------------------------------------------- Kaupapa 7 (1) Every mandated iwi organisation is accountable for its performance to all the members of the iwi, including members not living within its territory, and therefore has reporting responsibilities in relation to--- (a) its own performance; and (b) the performance of--- (i) its asset-holding {entities} [companies]; and (ii) any joint venture or other entity that conducts business using the settlement assets of the mandated iwi organisation. (2) {{There must be, for every mandated iwi organisation,}}[[Each year, each mandated iwi organisation must hold]] {an annual} [a] general meeting at which it provides an opportunity for the members of the iwi to consider--- (a) the annual report for the previous financial year, made available not less than 20 working days before the meeting, that reports against the objectives set out in the annual plan for the previous year, including--- (i) information on the steps taken by the mandated iwi organisation to increase the number of registered members; and (ii) a comparison of its performance against the objectives set out in the {previous} annual plan, including--- (A) changes in shareholder or member value; and (B) dividend performance or profit distribution; and (iii) the annual audited financial report, prepared in accordance with generally accepted accounting practice, and accounting serparately for settlement cash assets; and (iv) a report giving information of the sales and exchanges of settlement quota in the previous year, including--- Struck out ---------------------------------------------------------------------- ---------------------------------------------------------------------- (A) the value of [settlement] quota sold or exchanged; and ---------------------------------------------------------------------- ---------------------------------------------------------------------- New (majority) ----------------------------------------------------------------------------- (AB) the quantity of settlement quota held by the asset-holding company of the mandated iwi organisation in that year; and ----------------------------------------------------------------------------- New ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- (AC) the value of settlement quota sold or exchanged; and ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- (B) the identity of the purchaser or other party to the exchange; and (C) any transaction with settlement quota that has resulted in a registered interest by way of caveat or mortgage being placed over the quota; and (D) the settlement quota interests that have been registered against [the] quota shares [of the mandated iwi organisation]; and New ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- (E) the value of income shares sold, exchanged, or acquired; and ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- (v) a report on the interactions of the mandated iwi organisation in fisheries matters--- (A) with other entities within the iwi; and (B) with other mandated iwi organisations; and (C) with Te Ohu Kai Moana Trustee Limited; and New ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- (vi) any changes made under section 14AC to the constitutional documents of the mandated iwi organisation or those of its asset-holding companies or any subsidiaries of the asset-holding companies; and ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- (b) an annual plan for the next financial year, that must include--- (i) the objectives of the annual plan; and (ii) the policy of the mandated iwi organisation in respect of sales and exchanges of settlement quota; and (iii) any changes in that policy from the policy for the previous year; and (iv) any proposal to change the constitutional documents of any fishing company owned by the mandated iwi organisation; and (c) in relation to every asset-holding {entity} [company] of a mandated iwi organisation [or any subsidiary of an asset-holding company] that receives settlement assets,--- (i) {a} [an annual] report on--- (A) the performance of that asset-holding {entity} [company or any of its subsidiaries]; and (B) the investment of money of that asset-holding {entity} [company or any of its subsidiaries]; and (C) the matters set out in paragraph{s (a) to (c)} [(b)] of kaupapa 11; and (ii) any proposal to change the constitutional documents of the asset-holding {entity} [company or any of its subsidiaries.] Struck out (majority) ============================================================================= (iii) any proposal by the asset-holding entity to rationalise its fisheries assets. ============================================================================== (3) {All} Information referred to in this kaupapa must be made available in writing on request by any member of the iwi. Kaupapa 8 There must be a dispute resolution mechanism to deal with disputes between {{or among}} members of the iwi [[and the mandated iwi organisation]] relating to matters arising under this Act, including a means to deal with disputes raised by persons whose applications for registration are not accepted. Struck out (majority) ============================================================================= Kaupapa of ownership in relation to iwi fisheries assets ============================================================================== New (majority) ----------------------------------------------------------------------------- Ownership of iwi fisheries assets ----------------------------------------------------------------------------- Kaupapa 9 (1) If a mandated iwi organisation wishes to have its own fishing operation, utilising annual catch entitlement from its settlement quota to harvest, process, or market fish, or to be involved in a joint venture for those purposes, it must establish a fishing enterprise separate from, but responsible to, the mandated iwi organisation to undertake those operations. (2) An enterprise set up to undertake such operations must be a separate entity from the asset-holding {entity that receives the settlement quota and income shares of the iwi} [company or subsidiary established by an asset-holding company to which any settlement quota or income shares of the iwi are transferred]. New (majority) ----------------------------------------------------------------------------- Governance ----------------------------------------------------------------------------- Kaupapa 10 The elected directors, trustees, or officeholders, as the case may be, of a mandated iwi organisation must not comprise more than 40% of the total number of directors, trustees, or officeholders of an asset-holding {entity} [company, a subsidiary established by an asset-holding company,] or a fishing enterprise [established in accordance with Kaupapa 9]. Kaupapa 11 Struck out (majority) ============================================================================= Every mandated iwi organisation must exercise strategic governance over its asset-holding entity and any fishing company or joint venture referred to in kaupapa 9, or any other entity that conducts its business using the settlement assets of the mandated iwi organisation, including the process to examine and approve annual plans that set out--- (a) the key strategies for the use and development of iwi fisheries assets; and (b) the expected financial return on the assets; and (c) any proposals to enter into any transaction affecting ownership of, or income derived from, settlement quota. ============================================================================== New (majority) ----------------------------------------------------------------------------- Every mandated iwi organisation must exercise strategic governance over --- (a) its asset-holding companies, any subsidiary of an asset-holding company, and any fishing company or joint venture referred to in Kaupapa 9; and (b) the process to examine and approve annual plans that set out--- (i) the key strategies for the use and development of iwi fisheries assets: (ii) the expected financial return on the assets: (iii) any programme to--- (A) manage the sale of annual catch entitlements derived from the settlement quota held by asset-holding companies or their subsidiaries: (B) reorganise the settlement quota held by asset-holding companies or their subsidiaries, as by buying and selling settlement quota in accordance with this Act. ----------------------------------------------------------------------------- Struck out (majority) ============================================================================= Kaupapa 12 Any proposal to change the constitutional documents of the asset-holding entity of a mandated iwi organisation, or of a fishing company owned by a mandated iwi organisation (as referred to in kaupapa 9),--- (a) must be consistent with this Act; and (b) must not be inconsistent with kaupapa 9 to 11; and (c) must have the approval of at least 75% of the elected representatives of the mandated iwi organisation; and (d) must be reported at the next annual general meeting of the mandated iwi organisation or in the next general communication to members of the iwi. ============================================================================== Schedule 7 s 39 Te Kawai Taumata Part 1 Procedures {relating to membership of} [for appointments of members and alternate members of] Te Kawai Taumata {Appointments of member of Te Kawai Taumata} [Appointments] 1 Appointment of Te Kawai Taumata members (1) This clause applies--- (a) to the initial appointments of members and alternate members under sections 39 and 41; and (b) to subsequent appointments that must be made when--- (i) the term of office of a member or alternate member expires under clause 5; or (ii) a member or alternate member is removed under clause 6; or New (majority) ----------------------------------------------------------------------- (iii) a member or alternate member dies or resigns. ----------------------------------------------------------------------- (2) {The} [In the case of the initial appointments referred to in subclause (1)(a), the] mandated iwi organisation of the first iwi named in each group of iwi set out in Schedule 3 [[(except Group B---NGAPUHI]] {(except Group B (Ngapuhi))} must--- (a) appoint a time and place to hold a meeting of the representatives of the mandated iwi organisation[s] of every iwi in the group; and (b) give not less than 10 working days' notice of the meeting to all mandated iwi organisations in the same group, or other period of notice previously agreed by them; and (c) advise Te Ohu Kai Moana Trustee Limited of the name of the member and the alternate member appointed to Te Kawai Taumata by the mandated iwi organisations of that group of iwi. New (majority) ----------------------------------------------------------------------- (2A) In the case of a subsequent appointment referred to in subclause (1)(b), the requirements of subclause (2) apply only to the group of iwi that needs to make an appointment. ----------------------------------------------------------------------- New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (3) In the case of Group B---NGAPUHI, as set out in Schedule 3, the mandated iwi organisation must--- (a) appoint a time and place to hold a meeting of the directors, trustees, or office holders; and (b) give not less than 10 working days' notice of the meeting to all directors, trustees, or office holders, or any other period of notice previously agreed by them; and (c) advise Te Ohu Kai Moana Trustee Limited of the name of the member and alternate member appointed to Te Kawai Taumata by the directors, trustees, or office holders of the mandated iwi organisation. ----------------------------------------------------------------------- ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (3) In the case of Ngapuhi, the mandated iwi organisation must--- (a) appoint a time and place to hold a meeting of the directors, trustees, or office holders; and (b) give not less than 10 working days' notice of the meeting to all directors, trustees, or office holders, or other period of notice previously agreed by them; and (c) advise Te Ohu Kai Moana Trustee Limited of the name of the member and alternate member appointed to Te Kawai Taumata by the directors, trustees, or office holders of the mandated iwi organisation. ======================================================================= (4) The first representative Maori organisation named in Schedule 4 must--- (a) appoint a time and place to hold a meeting of 1 representative from each representative Maori organisation; and (b) give not less than 10 working days' notice of the meeting to every other representative Maori organisation, or other period of notice previously agreed by them; and (c) advise Te Ohu Kai Moana Trustee Limited of the name of the member and the alternate [member] appointed to Te Kawai Taumata by the representative Maori organisations. (5) A notice given under subclause (2)(b) or subclause (3)(b) or subclause (4)(b) may be combined with a notice given under clause 7 or clause 8. 2 Purpose of meetings The only purpose and business of the meetings referred to in clause 1(2)(a), (3)(a), and (4)(a) is to appoint a member of Te Kawai Taumata, an alternate member, or both, unless clause 6 applies. 3 Voting [to appoint or remove members or alternate members] (1) At meetings held for the purposes of clause 1 or clause 6,--- (a) each mandated iwi organisation has 1 vote{{; and}} [[:]] (b) each representative Maori organisation has 1 vote{{; but}} [[:]] (c) in the case of Ngapuhi, each director, trustee, or office holder of the mandated iwi organisation of Ngapuhi has 1 vote. New (majority) ----------------------------------------------------------------------- (1A) The votes cast on behalf of the iwi of Hauraki and the iwi of Te Arawa must, in each case, represent the majority view of the respective group. (1B) If Ngati Hine or Rongomaiwahine withdraws from the mandated iwi organisation of Ngapuhi or Ngati Kahungunu, as the case may be, as provided for by section 14C, the votes cast on behalf of Ngapuhi or Ngati Kahungunu must, in each case, take into account the view of the withdrawing iwi. ----------------------------------------------------------------------- Struck out (majority) ======================================================================= (2) If, by the date when Te Kawai Taumata must appoint directors under section 19(1), a group of iwi listed in column 1 of Part 1 of Schedule 3 or the representative Maori organisations have not appointed their member to Te Kawai Taumata,--- (a) No member will be appointed by that group of iwi or the representative Maori organisations; and (b) Te Kawai Taumata must carry out its functions without a member appointed by the relevant group of iwi or the representative Maori organisation, as the case may be. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) If a group of iwi listed in column 1 of Schedule 3 or the representative Maori organisations have not appointed their member and alternate member of Te Kawai Taumata by the date when the members and alternate members of Te Kawai Taumata must appoint directors under section 30(1), the appointed members or alternate members of Te Kawai Taumata must carry out their function of appointing directors without a member or alternate member appointed by the relevant group of iwi or the representative Maori organisation, as the case may be. (3) A decision to appoint or remove a member or alternate member of Te Kawai Taumata must be based on the votes cast at the meeting, so long as not less than 75% of those entitled to vote are present. ----------------------------------------------------------------------- 4 Vacancies or irregularities in appointment (1) Despite a vacancy in {its} [the] membership [of] Te Kawai Taumata, [its appointed members or alternate members] may perform {its} [their] functions, provided there is a quorum. (2) The decisions of [the members {{and}} [[or]] alternate members of] Te Kawai Taumata are not affected if a member's appointment, or that of an alternate member, is defective. Term of office 5 Term of office of members {of Te Kawai Taumata} [and alternate members] (1) A member of Te Kawai Taumata and an alternate member--- (a) is appointed for a term of office not exceeding 4 years; and (b) is eligible for reappointment; but (c) may not hold office for more than 2 consecutive terms. (2) Subject to clause 6, a member and alternate member continues in office until--- (a) he or she is reappointed; or (b) his or her successor is appointed. New (majority) ----------------------------------------------------------------------- (3) However, the term of office of an alternate member expires when the term of office of the relevant member expires. ----------------------------------------------------------------------- Removal of members 6 Removal of Te Kawai Taumata members (1) A member or alternate member of Te Kawai Taumata may be removed from office without compensation at any time by a majority, as the case may be, of the mandated iwi organisations, the representative Maori organisations, or the directors, trustees, or office holders of the mandated iwi organisation of Ngapuhi entitled to appoint that member. (2) The procedures of clauses 7 to 9 apply to the removal of a member or alternate member from office. 7 Procedure for removal of Te Kawai Taumata members by mandated iwi organisation (1) A mandated iwi organisation entitled to participate in a meeting convened under clause 1(2) and (3) to appoint a member or alternate member of Te Kawai Taumata may convene a meeting to decide whether that member [or alternate member] should be removed from office. (2) A mandated iwi organisation that convenes a meeting under subclause (1) must--- (a) appoint a time and place for the meeting; and (b) give not less than 10 working days' notice of the meeting to all mandated iwi organisations in the same group [of iwi], or another period of notice previously agreed by the parties; and (c) give the member or alternate member concerned not less than 10 working days' notice of the meeting, its purpose, and a reasonable opportunity to be heard; and (d) advise Te Ohu Kai Moana Trustee Limited of the outcome of the meeting held under subclause (1). (3) In the case of the mandated iwi organisation of Ngapuhi, the procedure set out in subclause (2) must be observed in relation to its directors, trustees, or office holders. 8 Procedure for removal of Te Kawai Taumata member by representative Maori organisation (1) A representative Maori organisation entitled to participate in a meeting convened under clause 1(4) to appoint a member or alternate member of Te Kawai Taumata may convene a meeting to decide whether that member [or alternate member] should be removed from office. (2) A representative Maori organisation that convenes a meeting under subclause (1) must--- (a) appoint a time and place for the meeting; and (b) give not less than 10 working days' notice of the meeting to every other representative Maori organisation, or another period of notice previously agreed by the parties; and (c) give the member or alternate member concerned not less than 10 working days' notice of the meeting, its purpose, and a reasonable opportunity to be heard; and (d) advise Te Ohu Kai Moana Trustee Limited of the outcome of the meeting referred to in subclause (1). 9 Meetings to remove members (1) The only purposes of the meetings referred to in clauses 7 and 8 are--- (a) to remove a member or alternate member of Te Kawai Taumata; and (b) to appoint a new member or alternate member. (2) Resolutions to remove and appoint members or alternate members must be voted on separately. Struck out (majority) ======================================================================= (3) At the meetings referred to in subclause (1), each mandated iwi organisation, representative Maori organisation, or director, trustee, or office holder of the mandated iwi organisation of Ngapuhi, as the case may be, has 1 vote. ======================================================================= Part 2 Procedure of Te Kawai Taumata New (majority) ----------------------------------------------------------------------- 9A Procedure Except as otherwise provided in this Act, the members or alternate members of Te Kawai Taumata may regulate the procedures of Te Kawai Taumata. ----------------------------------------------------------------------- Chairperson and deputy chairperson of Te Kawai Taumata 10 Chairperson and deputy chairperson (1) [The members of] Te Kawai Taumata must elect 1 {of its members} [member] as {its} [the] chairperson [of Te Kawai Taumata], and another member as {its} [the] deputy chairperson. Struck out (majority) ======================================================================= (2) The chairperson of Te Kawai Taumata (and the deputy chairperson when acting as chairperson) must act only with the authority of Te Kawai Taumata and in accordance with its directions. ======================================================================= New (majority) ----------------------------------------------------------------------- (2) The chairperson of Te Kawai Taumata (and the deputy chairperson when acting as chairperson) must act only--- (a) with the authority of {{all}} the members or their alternate members; and (b) in accordance with their directions. ----------------------------------------------------------------------- (3) Te Kawai Taumata must elect an existing member to hold the office of chairperson or deputy chairperson if the chairperson or deputy chairperson--- (a) resigns from office; or (b) vacates office as a member of Te Kawai Taumata; or (c) is removed from office under clause 6. Meetings of Te Kawai Taumata 11 Meetings (1) The chairperson--- (a) may, as he or she considers necessary, call meetings of Te Kawai Taumata to--- (i) consider whether any action is necessary under section 30 or section 33(2); or (ii) appoint or remove directors of Te Ohu Kai Moana Trustee Limited under section 30 or section 33(2), as the case may be; and (b) must, if requested by at least 2 members, call a meeting of Te Kawai Taumata, provided the meeting relates to a matter referred to in subclause (1)(a). (2) The chairperson of Te Kawai Taumata must determine the date, time, and place of each meeting of Te Kawai Taumata and must give not less than 10 working days' written notice to [the] members and alternate members of--- (a) the date, time, and place of the meeting; and (b) the agenda for the meeting. (3) Notice need not be given under subclause (2)--- (a) to a member who for the time being is absent from New Zealand; or (b) in respect of an adjourned meeting. (4) If all members who are entitled to receive notice give their consent, the requirement to notify a meeting may be waived. Struck out ======================================================================= ======================================================================= (5) It is the responsibility of a member to notify the chairperson and the appropriate alternate member, if the member is unable to attend any meeting. ======================================================================= ======================================================================= New ----------------------------------------------------------------------- ----------------------------------------------------------------------- (5) A member who is unable to participate in a meeting must notify that fact to--- (a) the chairperson; and (b) the appropriate alternate member. (6) An alternate member may only participate in a meeting if the member is unable to do so. ----------------------------------------------------------------------- ----------------------------------------------------------------------- 12 Meeting to remove director If [the chairperson of] Te Kawai Taumata [(or the deputy chairperson when acting as the chairperson)] calls a meeting [under clause 11(1)] for the purpose of removing a director of Te Ohu Kai Moana Trustee Limited,--- (a) the director concerned must be given not less than 10 working days' notice of the meeting and its purpose, and must be given a reasonable opportunity to be heard; and (b) clause 16(4) does not apply. 13 Teleconference meetings (1) A meeting may be conducted by teleconference or by any means of communication that allows {the members} [each member or his or her alternate member] to participate effectively in the proceedings. (2) All the provisions in this schedule relating to the meetings of Te Kawai Taumata apply to a meeting held in accordance with this clause. 14 Conduct of meetings (1) The chairperson of Te Kawai Taumata must preside at all meetings of Te Kawai Taumata. (2) If the chairperson is not present--- (a) the deputy chairperson, if present, must preside; or (b) if the deputy chairperson is not present, the members present must elect 1 of their number to {be the chairperson of the meeting} [preside]. (3) A record must be kept in the minute book of all decisions taken at every meeting, signed by the {chairperson of} [person presiding at] the meeting. (4) The signed minutes of the proceedings of a meeting are evidence--- (a) of the proceedings; and (b) unless the contrary is proved, that the meeting was properly convened and the proceedings were properly conducted. 15 Quorum (1) A quorum for a meeting of Te Kawai Taumata is not fewer than 6 members [or alternate members] present at the meeting [and entitled to vote]. (2) No business may be transacted at a meeting of Te Kawai Taumata {at any time when} [unless] a quorum is {not} present. 16 Voting [to appoint or remove directors of Te Ohu Kai Moana Trustee Limited] Struck out (majority) ======================================================================= (1) Except as provided in subclause (3), each member present has 1 vote. ======================================================================= New (majority) ----------------------------------------------------------------------- (1) Except as provided in subclause (3),--- (a) each member present has 1 vote; and (b) each alternate member present on behalf of a member has 1 vote. ----------------------------------------------------------------------- (2) All {questions arising at a meeting} [decisions relating to the appointment or removal of a director of Te Ohu Kai Moana Trustee Limited] must be decided by a majority of the votes cast by the members [or alternate members] present [and entitled to vote]. (3) [Despite clause 10(2),] in the case of an equality of votes, the chairperson or member presiding has a casting vote. (4) A written resolution signed by all members is effective for all purposes as a resolution passed at a meeting of Te Kawai Taumata and may comprise more than 1 copy of the resolution, each signed by 1 or more of the members of Te Kawai Taumata. Remuneration 17 Remuneration for members of Te Kawai Taumata The members and alternate members of Te Kawai Taumata are entitled to receive from Te Ohu Kai Moana Trustee Limited {as its board determines and approves,}--- Struck out (majority) ======================================================================= (a) remuneration; and (b) payment of reimbursing allowances or actual and reasonable expenses incurred in undertaking the function of Te Kawai Taumata. ======================================================================= New (majority) ----------------------------------------------------------------------- (a) remuneration for [[their]] attendance at meetings; and (b) reimbursing allowances or actual and reasonable expenses incurred in undertaking the function of Te Kawai Taumata. ----------------------------------------------------------------------- 18 Administration [The chairperson of] Te Ohu Kai Moana Trustee Limited, [after consultation with the chairperson of Te Kawai Taumata,] must {approve} [include in the annual plan of Te Ohu Kai Moana Trustee Limited] a budget for the expenses of Te Kawai Taumata, including a budget for{{, or the provision of,}} [[the provision of]] administrative services {as agreed by Te Ohu Kai Moana Trustee Limited and the chairperson of Te Kawai Taumata}. Schedule 8 s 166 Consequential amendments Company Law Reform (Transitional Provisions) Act 1994 (1994 No 16) Repeal the item relating to the Maori Fisheries Act 1989 in the First Schedule. Fisheries Act 1996 (1996 No 88) Insert in section 2(1), in the appropriate alphabetical order, the following definitions: "Aotearoa Fisheries Limited has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "appointed day has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "asset-holding {entity} [company] has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "mandated iwi organisation has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "settlement quota has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "settlement quota interest means an interest registered in respect of quota management stocks under section 152A New (majority) ----------------------------------------------------------------------- "subcompany, in relation to Aotearoa Fisheries Limited, has the meaning given to it in section 5 of the Maori Fisheries Act 2003 ----------------------------------------------------------------------- "Te Ohu Kai Moana has the meaning given to it in section 5 of the Maori Fisheries Act 2003 New (majority) ----------------------------------------------------------------------- "Te Ohu Kai Moana Trustee Limited has the meaning given to it in section 5 of the Maori Fisheries Act 2003 ----------------------------------------------------------------------- "Te Putea Whakatupu Trust has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "Te Putea Whakatupu Trustee Limited has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "Te Wai Maori Trust has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "Te Wai Maori Trustee Limited has the meaning given to it in section 5 of the Maori Fisheries Act 2003". Struck out (majority) ======================================================================= Repeal the definition of Commission in section 2(1) and insert, in its appropriate alphabetical order, the following definition: "Te Ohu Kai Moana Trustee Limited has the meaning given to it in section 5 of the Maori Fisheries Act 2003". ======================================================================= Omit from section 26(6) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Omit from the heading to section 29B the word "Commission", and substitute the words "Te Ohu Kai Moana Trustee Limited". Omit from section 29B the word "Commission", and substitute the words "Te Ohu Kai Moana Trustee Limited". ----------------------------------------------------------------------- ----------------------------------------------------------------------- Omit from section 30(2)(a) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". Omit from section 31(2) the words "the Commission" {wherever} [in both places where] they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". Omit from section 31(2) the words "the Commission's behalf" and substitute the words "behalf of Te Ohu Kai Moana Trustee Limited". New (majority) ----------------------------------------------------------------------- Omit from the heading to section 44 the word "Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". ----------------------------------------------------------------------- Omit from section 44(1) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". Omit from section 48(1) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Insert in section 49A, after the words "quota register", the words "(other than a settlement quota interest)". ----------------------------------------------------------------------- ----------------------------------------------------------------------- Insert in section 50, after subsection (1), the following subsections: "(1A) Despite subsection (1), if settlement quota is held by the Crown as a result of forfeiture under this Act, the chief executive must, as soon as practicable after the date of forfeiture, endeavour to sell the quota to Te Ohu Kai Moana Trustee Limited or to 1 or more mandated iwi organisations in accordance with sections 125 (except subsection (2)) and 127 of the Maori Fisheries Act 2003. "(1B) If, within 18 months of the date of forfeiture, all of the settlement quota referred to in subsection (1A) has not been sold by the Crown in accordance with sections 125 (except subsection (2)) and 127 of the Maori Fisheries Act 2003, the chief executive must transfer the remaining settlement quota to Te Ohu Kai Moana Trustee Limited. "(1C) If settlement quota is transferred by the chief executive under subsection (1B), Te Ohu Kai Moana Trustee Limited must pay to the Crown a sum equivalent to the total of the cost recovery levies paid by the Crown in respect of the settlement quota for the period that the quota was held by the Crown." Omit from section 52(3)(d)(i), (ii), and (iii) the words "the Commission" wherever they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". Omit from section 52(4)(c) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". Omit from the heading to section 55 the words "to Commission" and substitute the words "to Te Ohu Kai Moana Trustee Limited". Omit from section 55 the words "the Commission" {wherever} [in both places where] they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". Insert in section 59(8), after the words "Chatham Islands Enterprise Trust", the words ", Te Ohu Kai Moana Trustee Limited,". Insert in section 59, after subsection (8), the following subsection: Struck out (majority) ======================================================================= "(8A) Subsection (1) does not prevent--- "(a) any person from owning settlement quota, whether it was acquired by allocation under the Maori Fisheries Act 2003, purchase, exchange, or otherwise; or "(b) any person from owning any quota purchased under a right of first refusal under any enactment; or "(c) Aotearoa Fisheries Limited or its subcompanies from owning quota distributed to it by the Commission or by Te Ohu Kai Moana Trustee Limited under section 59 of the Maori Fisheries Act 2003." ======================================================================= New (majority) ----------------------------------------------------------------------- "(8A) Subsection (1) does not prevent a person from owning the following quota, in addition to quota owned by that person immediately before the commencement of the Maori Fisheries Act 2003: "(a) settlement quota, whether it was acquired by allocation under the Maori Fisheries Act 2003 or by purchase, exchange, or otherwise; or "(b) quota purchased under a right of first refusal under any enactment; or "(c) in the case of Aotearoa Fisheries Limited or its subcompanies--- "(i) quota transferred to it under section 59 of the Maori Fisheries Act 2003 by the Commission or by Te Ohu Kai Moana Trustee Limited: "(ii) quota purchased after the commencement of the Maori Fisheries Act 2003; or "(d) in the case of an asset-holding company of a mandated iwi organisation or a subsidiary of an asset-holding company, quota purchased after the commencement of the Maori Fisheries Act 2003 under an exemption consented to under--- "(i) section 28W(3) of the Fisheries Act 1983; or "(ii) section 60 of the Fisheries Act 1996." ----------------------------------------------------------------------- Insert in section 59, after subsection (10), the following subsections: "(10A) For the purposes of subsection (10)(b) and (e), a person is not a person referred to in that subsection solely because the person is--- "(a) in the case of subsection (10)(b), a director of Te Ohu Kai Moana Trustee Limited, Te Putea Whakatupu Trustee Limited, or Te Wai Maori Trustee Limited; or "(b) in the case of subsection (10)(e), a beneficiary[, director, trustee, or office holder][[, as the case may be,]] of--- "(i) Te Ohu Kai Moana, Te Putea Whakatupu Trust, or Te Wai Maori Trust; or "(ii) a mandated iwi organisation or an asset-holding {entity} [company]; or "(iii) any trust of which the settlor is Aotearoa Fisheries Limited or a subcompany {of Aotearoa Fisheries Limited}." Struck out ======================================================================= ======================================================================= New (majority) ----------------------------------------------------------------------- "(10B) In this section, subcompany, in relation to Aotearoa Fisheries Limited, has the meaning given to it in section 5 of the Maori Fisheries Act 2003." ----------------------------------------------------------------------- ======================================================================= ======================================================================= Omit from section 59(11) the words "the Commission" {wherever} [in both places where] they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". Struck out (majority) ======================================================================= Insert in section 74(2), at the end of paragraph (e), the expression "; or". Insert in section 74(2), after paragraph (e), the following paragraph: "(f) following the allocation of settlement quota under Part 3 of the Maori Fisheries Act 2003 and the subsequent transfer of the annual catch entitlement in full to a commercial fisher that is an approved entity, the annual catch entitlement is not sufficient to satisfy the requirements of subsection (1),---". ======================================================================= Insert in section 74, after subsection (2), the following subsections: Struck out (majority) ======================================================================= "(2A) As soon as reasonably practicable after notification to the chief executive by Te Ohu Kai Moana Trustee Limited of the entities that are approved by Te Ohu Kai Moana Trustee Limited under section 23 of the Maori Fisheries Act 2003, the chief executive must identify the approved entities on the annual catch entitlement register." ======================================================================= New (majority) ----------------------------------------------------------------------- "(2A) As soon as is reasonably practicable after Te Ohu Kai Moana Trustee Limited has notified the chief executive of the entities that it has approved under section 23 of the Maori Fisheries Act 2003, the chief executive must identify the approved entities on the annual catch entitlement register. "(2B) In the case of a quota holding that includes settlement quota, if the annual catch entitlement from that quota is transferred in full to a commercial fisher that is registered as an approved entity under subsection (2A), the annual catch entitlement must be treated as if it were not less than the minimum amount required under subsection (1)." ----------------------------------------------------------------------- Repeal section 78(12)(a) and substitute the following paragraphs: "(a) Te Ohu Kai Moana Trustee Limited, a mandated iwi organisation, or members of an iwi, are not to be regarded as being included with any other person, whether or not that person is a mandated iwi organisation, merely because any of them has the status of being--- "(i) a beneficiary or income shareholder of Aotearoa Fisheries Limited; or "(ii) a beneficiary of--- "(A) Te Putea Whakatupu Trust; or "(B) Te Wai Maori Trust; or "(C) Te Ohu Kai Moana; and "(ab) Aotearoa Fisheries Limited is not to be regarded as being included with any other person merely because the other person holds, or benefits from, income shares in Aotearoa Fisheries Limited; and". Omit from section 78(12)(b) the words "the Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". Struck out (majority) ======================================================================= Omit from section 79(6)(a) and (b) the words "the Commission" and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". ======================================================================= New (majority) ----------------------------------------------------------------------- Repeal section 79(6)(a) and (b) and substitute the following paragraphs: "(a) Te Ohu Kai Moana Trustee Limited, a mandated iwi organisation, or members of an iwi are not to be regarded as being included with another person (whether or not that person is a mandated iwi organisation), merely because any of them is--- "(i) a beneficiary or income shareholder of Aotearoa Fisheries Limited; or "(ii) a beneficiary of--- "(A) Te Ohu Kai Moana: "(B) Te Putea Whakatupu Trust: "(C) Te Wai Maori Trust; and "(b) Aotearoa Fisheries Limited is not to be regarded as being included with another person merely because the other person holds, or benefits from, income shares in Aotearoa Fisheries Limited; and". ----------------------------------------------------------------------- Insert in section 127(1), after paragraph (j), the following paragraph: "(ja) every settlement quota interest registered under section 152A, and--- "(i) the name of Te Ohu Kai Moana Trustee Limited and of the quota owner over whose quota shares the settlement quota interest is registered; and "(ii) the time and date of registration of the settlement quota interest; and "(iii) the number of quota shares over which the settlement quota interest is registered:". Struck out (majority) ======================================================================= Add to the end of section 127(1)(m)(ii) the expression "; and". Insert in section 127(1)(m), after subparagraph (ii), the following subparagraph: "(iii) that any settlement quota that is forfeit is subject to a settlement quota interest registered under section 152A:". ======================================================================= New (majority) ----------------------------------------------------------------------- Add to section 127(1)(m) the word "; and", and also add the following subparagraph: "(iii) that any settlement quota that is forfeit is subject to a settlement quota interest registered under section 152A:". ----------------------------------------------------------------------- Struck out (majority) ======================================================================= Add to section 132(1), after paragraph (b) the expression "; and". Insert in section 132(1), after paragraph (b), the following paragraph: "(c) in the case of quota shares subject to a settlement quota interest registered under section 152A, the transfer is authorised by Te Ohu Kai Moana Trustee Limited under section 124 of the Maori Fisheries Act 2003." ======================================================================= New (majority) ----------------------------------------------------------------------- Add to section 132(1) the word "; and", and also add the following paragraph: "(c) in the case of quota shares subject to a settlement quota interest registered under section 152A, the transfer is authorised by Te Ohu Kai Moana Trustee Limited under section 122 of the Maori Fisheries Act 2003." ----------------------------------------------------------------------- Insert in section 136, after subsection (1), the following subsection: "(1A) Section 128(1) and (2) of the Maori Fisheries Act 2003 prevails over subsection (1)." Struck out (majority) ======================================================================= Add to section 139(2)(b), the expression ":". ======================================================================= Add to section 139(2){, after paragraph (b),} the following paragraph: "(c) the restrictions on a mortgagee's power of sale defined in section 140A." Insert in section 140, after subsection (5), the following subsection: "(5A) In addition to giving the notice under subsection (1), if any of the quota shares are subject to a settlement quota interest registered under section 152A, the mortgagee must, after serving notice on the quota owner, immediately serve a copy of the notice on Te Ohu Kai Moana Trustee Limited, however, failure to comply with this subsection does not in itself prevent money secured by a mortgage from being payable, or being deemed to have become payable." Insert, after section 140, the following section: "140A Restriction on transfer by mortgagee "(1) Despite sections 139 and 140, if a mortgagee exercises a power of sale over settlement quota, the mortgagee must transfer the settlement quota in accordance with sections 125 (except subsection (2)) and 127 of the Maori Fisheries Act 2003 as if the mortgagee were a mandated iwi organisation. "(2) Despite section 145(1), the transfer of quota under subsection (1) does not remove the settlement quota interest." Insert in section 145, after subsection (1), the following subsection: "(1A) Subsection (1) does not limit section 152B(3) and (4)." Insert, after section 152, the following {cross-heading} [heading] and sections: "Settlement quota interests "152A Registration The chief executive must register a settlement quota interest against the quota shares notified by Te Ohu Kai Moana Trustee Limited as soon as reasonably practicable after receiving--- "(a) a request in accordance with section 124(2) of the Maori Fisheries Act 2003; and "(b) payment by Te Ohu Kai Moana Trustee Limited of the prescribed fee. "152B Effect of registering settlement quota interest against quota shares "(1) Between the appointed day and the time when a settlement quota interest is registered against the quota specified by Te Ohu Kai Moana Trustee Limited, there must be no dealings with the quota shares listed in Schedule 1 of the Maori Fisheries Act 2003, except for their transfer to Te Ohu Kai Moana Trustee Limited. "(2) While there is a settlement quota interest registered against quota, no transfer of that quota may be registered unless--- "(a) the transfer is--- "(i) authorised by Te Ohu Kai Moana Trustee Limited and the owner under section 124 of the Maori Fisheries Act 2003; or "(ii) ordered by the Court; or "(b) the settlement quota is forfeit to the Crown under section 61 or sections 255 to 255E. "(3) To avoid doubt, a settlement quota interest remains in force if settlement quota is transferred, unless the settlement quota interest is removed in accordance with section 124 of the Maori Fisheries Act 2003. "(4) However, the fact that a settlement quota interest is registered against the quota does not exclude the quota from being subject to a mortgage or caveat under this Act. "(5) Subsection (2) overrides section 145(1)." Insert in section 163(1), after the word "caveat", the words "or settlement quota interest". Insert in section 163(2), after the word "caveat", the words "or settlement quota interest". Omit from section 255(4) and (5) the words "the Commission" wherever they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". Insert in section 255E, after subsection (1), the following subsection: "(1A) Despite subsection (1), if settlement quota is forfeit to the Crown under this Act, the quota continues to be subject to a settlement quota interest." Insert in section 256, after subsection (11), the following subsection: "(11A) If the Court makes an order under subsection (11) that relates to settlement quota, the person taking possession of that quota by order of the Court may only dispose of the quota in accordance with sections 125 (except subsection (2)) and 127 of the Maori Fisheries Act 2003, as if he or she were a mandated iwi organisation." Omit from section 343(1)(b), (2B), and (2C) the words "the Commission" wherever they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". New ----------------------------------------------------------------------- ----------------------------------------------------------------------- Omit from the first column of Schedule 5 of the Fisheries Act 1996 the words "Treaty of Waitangi Fisheries Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". Omit from the first column of Schedule 16 of the Fisheries Act 1996 the words "Treaty of Waitangi Fisheries Commission" and substitute the words "Te Ohu Kai Moana Trustee Limited". ----------------------------------------------------------------------- ----------------------------------------------------------------------- Human Rights Amendment Act 2001 (2001 No 96) Repeal the item relating to the Maori Fisheries Act 1989 in Part 1 of Schedule 2. Income Tax Act 1994 (1994 No 164) Repeal paragraphs (h), (i), and (j) of section HI 2 and substitute the following paragraphs: "(h) Te Ohu Kai Moana Trustee Limited, established in accordance with section 22 of the Maori Fisheries Act 2003: "(i) Aotearoa Fisheries Limited, established in accordance with section 44 of the Maori Fisheries Act 2003: "(ia) a company that is--- "(i) established by a mandated iwi organisation to be an asset- holding {entity} [company], as contemplated by section 12(1){(c)} [(d)] of the Maori Fisheries Act 2003: "(ii) recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13 of the Maori Fisheries Act 2003: New ----------------------------------------------------------------------- ----------------------------------------------------------------------- "(ib) the trustees of a trust that is recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13(1) of the Maori Fisheries Act 2004: ----------------------------------------------------------------------- ----------------------------------------------------------------------- "(j) the trustees of the trusts that are established by Te Ohu Kai Moana Trustee Limited in accordance with sections 63 and 76 of the Maori Fisheries Act 2003:". Struck out (majority) ======================================================================= "(ja) the trustees of a trust that is--- "(i) established by a mandated iwi organisation to be an asset- holding entity, as contemplated by section 12(1)(c) of the Maori Fisheries Act 2003: "(ii) recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13 of the Maori Fisheries Act 2003:". ======================================================================= New (majority) ----------------------------------------------------------------------- Income Tax Act 2004 (2004 No 35) Repeal paragraphs (h), (i), and (j) of section HI 2 and substitute the following paragraphs: "(h) Te Ohu Kai Moana Trustee Limited, established in accordance with section 22 of the Maori Fisheries Act 2003: "(i) Aotearoa Fisheries Limited, established in accordance with section 44 of the Maori Fisheries Act 2003: "(ia) a company that is--- "(i) established by a mandated iwi organisation to be an asset- holding company, as contemplated by section 12(1)(d) of the Maori Fisheries Act 2003: "(ii) recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13 of the Maori Fisheries Act 2003: New ----------------------------------------------------------------------- ----------------------------------------------------------------------- "(ib) the trustees of a trust that is recognised by Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation under section 13(1) of the Maori Fisheries Act 2004: ----------------------------------------------------------------------- ----------------------------------------------------------------------- "(j) the trustees of the trusts that are established by Te Ohu Kai Moana Trustee Limited in accordance with sections 63 and 76 of the Maori Fisheries Act 2003:". ----------------------------------------------------------------------- Ministry of Agriculture and Fisheries (Restructuring) Act 1995 (1995 No 31) Struck out (majority) ======================================================================= Repeal subsections (1) and (2) of section 22. ======================================================================= New (majority) ----------------------------------------------------------------------- Repeal section 22(1) and (2). ----------------------------------------------------------------------- Omit from section 22(3) the words "the Commission" {wherever} [in both places where] they appear and substitute in each case the words "Te Ohu Kai Moana Trustee Limited". Insert in section 22, after subsection (3), the following subsections: "(3A) However, as soon as reasonably practicable after Te Ohu Kai Moana Trustee Limited has recognised the mandated iwi organisation of Ngati Toa Rangatira under section 13 of the Maori Fisheries Act 2003, or its recognised iwi organisation under section 17 of the Maori Fisheries Act 2003, Te Ohu Kai Moana Trustee Limited must transfer to the organisation the quota referred to in subsection (3). "(3B) Except as provided for in subsection (3A), the provisions of the Maori Fisheries Act 2003 do not apply to the quota referred to in subsection (3). "(3C) To avoid doubt, the quota referred to in subsection (3) is not quota that is included in the existing undertaking as defined in section 146 of the Maori Fisheries Act 2003." Repeal subsection (4) of section 22 and substitute the following subsections: "(4) Section 74 of the Fisheries Act [1996] does not prevent Te Ohu Kai Moana Trustee Limited from holding the quota referred to in subsection (3) for the purpose of this section. "(4A) In this section,--- "mandated iwi organisation has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "recognised iwi organisation has the meaning given to it in section 5 of the Maori Fisheries Act 2003 "Te Ohu Kai Moana Trustee Limited has the meaning given to it in section 5 of the Maori Fisheries Act 2003." Public Audit Act 2001 (2001 No 10) New (majority) ----------------------------------------------------------------------- Repeal the reference to the Treaty of Waitangi Fisheries Commission in Schedule 2. ----------------------------------------------------------------------- Repeal the item relating to the Maori Fisheries Act 1989 in Schedule 4. Treaty of Waitangi (Fisheries Claims) Settlement Act 1992 (1992 No 121) Repeal sections 12 to 20. ------------------------------ Legislative history 20 November 2003 Introduction (Bill 90-1) 4 December 2003 First reading and referral to the Fisheries and Other Sea-related Legislation Committee 9 August 2004 Reported from Fisheries and Other Sea-related Legislation Committee (Bill 90-2) 7, 14, 15 September 2004 Committee of the whole House (Bill 90-3) ------------------------------