Proposed Amendments to the Te Ātiawa o Te Waka-a-Māui Trust Deed ((Required under the Māori Fisheries Amendment Act 2024))
Tēnā koutou e ngā uri o Te Ātiawa o Te Waka-a-Māui
This pānui provides important information about proposed amendments to the Te Ātiawa o Te Waka-a-Māui Trust Deed that members will be asked to vote on at the upcoming Annual General Meeting. You can read the full proposed amendments to the Trust Deed below.
The Māori fisheries settlement spanned two decades. The 1992 ‘full and final’ settlement gave Māori a 50% stake in Sealord and 20% of future quotas. The settlement framework was finalised in the Māori Fisheries Act 2004 which set the rules for the distribution of fisheries assets to iwi.
The amendments are required to ensure that our Trust remains compliant with the updated Māori Fisheries Act 2004 (MFA) following the passing of the Māori Fisheries Amendment Act 2024 (MFAA), which comes fully into effect by July 2026. These legislative updates apply to all Mandated Iwi Organisations (MIOs) across the motu and are aimed at:
- modernise the Māori Fisheries settlement framework
- reduce compliance costs and streamline processes
- strengthen iwi rangatiratanga and decision-making over fisheries assets
- ensure the Trust Deed reflect the new legal settings.[1]
Key points for Te Ātiawa Members
In preparing for these amendments, the Trustees have considered the options provided under the MFAA and resolved to retain two key governance settings that support strong iwi control over fisheries assets:
1. No change to Trustee-Director restrictions
Te Ātiawa will continue to prohibit Trustees from serving as Directors on the Asset Holding Company, rather than having no limit now permitted under the MFAA.
2. Retaining the 75% special resolution threshold
While the MFAA gives iwi the option to lower the approval threshold for settlement quota sales, the Trust will retain the existing 75% special resolution requirement, maintaining a stronger safeguard around quota disposal.
Download the Proposed Amendments to The Trust Deed here
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[1] These changes are detailed in the TOKM Iwi Information Pack at https://cdn.prod.website-files.com/66938498f6dd1a2c938f5211/6761fa5647463a4a288d9ebe_Te-Ohu-Kaimoana-MFA-Information-Pack-v3.pdf