Fisheries Assets

The Board has been allocated fisheries assets under the Māori Fisheries Act 2004. These assets include quota shares, cash and Aotearoa Fisheries Limited Income Shares. The Board has established a Mandated Iwi Organisation (MIO) for the purpose of receiving the fisheries assets. Other accountability measures are also being set-up to allow the transfer of assets to the iwi. Until this is completed by Whakatōhea the assets remain with Te Ohu Kaimoana.

Whakatōhea Fisheries Trust

The Trust is required to ensure that an Asset Holding Company is established and that it is wholly owned and controlled by the Trust. The Whakatōhea Fisheries Trust consists of the 12 Board members of the Trust Board with an additional 6 Advisory Trustees from each of the 6 Hapū that the Board represents. The Whakatōhea Maori Trust Board is the Trustee of the Trust.

The Whakatōhea Fisheries Asset Holding Company Limited

This Company must receive and hold on behalf of the Trust all Settlement Quota and Income Shares allocated by Te Ohu Kai Moana. The Whakatōhea Fisheries Asset Holding Company Limited has developed its constitution and is awaiting the confirmation of Directors to the Company.

The Whakatōhea Fisheries Asset Holding Company Limited (WFAHCL) is responsible for receiving and managing the fisheries and aquaculture settlement assets on behalf of the Whakatohea Fisheries Trust. Ultimately this will involve:-

Shares in Aotearoa Fisheries Limited
Deepwater and Inshore Quota
Cash
Aquaculture Settlement Assets

The WFAHCL will implement key strategies for the use and development of Whakatōhea’s fisheries and aquaculture assets, develop a programme of expected financial return on assets to the Trust and are accountable to the Whakatōhea Maori Trust Board in its capacity as Trustee of the Whakatōhea Fisheries Trust.

Five (5) directors shall be appointed to the WFAHCL comprising three (3) independent directors and two (2) trustees from the Whakatōhea Fisheries Trust.

The Director appointments from the Trust to the Company are Robert Edwards and Tahu Taia.

Applications have been called for and received for the 3 independent Director positions. The Trust is yet to approve the selection of the 3 independants.