New Zealand Acts

MAORI FISHERIES ACT 2004 - SECT 114

114 Review of entities

1 Independent reviews must be conducted in accordance with this section and sections 115 to 127 .

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 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 124(2) , that the interests of the beneficiaries of the Deed of Settlement would be better served by changes to section 161(1) or section 168 (that restrict the disposal of settlement quota to mandated iwi organisations and Te Ohu Kai Moana Group); or

b) not sooner than 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 122(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.