max
°
min
°
Location:
COLOR-Waatea logo 2016-final

On Air Now
Radio Waatea

12:00am - 06:00am
Ed Sheeran

TOKM hands dividend to iwi

Share to Email
Share to RSS
Share to Print

More Stories

Māori fisheries settlement trust Te Ohu Kaimoana will give up the dividend it receives from Moana Fisheries and pass it on to iwi on a population basis.

Chair Jamie Tuuta says it acknowledges the 10-year statutory review of fisheries settlement structures, which proposed the 20 percent of income shares the trust holds in the pan-Māori fishing company will be handed over to iwi.

This year that share will be about $1.7 million of the total $8.6 million dividend.

It means Te Ohu Kaimana will have to run all its activities from what it can earn from its accumulated reserves.

The proposed changes are on hold because New Zealand First has indicated it will not support the necessary changes to the Māori Fisheries Act.

Mr Tuuta says because Te Ohu Kaimoana is a charity, the iwi entities that receive the dividend also need to be charities.

A special general meeting will be held mid-year to approve any necessary changes.

 

 

 

 

Copyright © 2019, UMA Broadcasting Ltd: www.waateanews.com

'Te Hononga' Urban Māori Stories
National promises to gut worker rights and tenant rights if elected

Martyn 'Bomber' Bradbury: It's an interesting tactic, but the National Party of New Zealand clearly believe that renters and workers won't bother voting in the 2020 election because they are promising that if National become the Government they will remove renter rights and scrap any plan to raise the minimum wage.

With NZ First sliding into political irrelevance, can the Maori Party save Jacinda?
Martyn 'Bomber' Bradbury: The latest political poll spells real danger to the Labour-led Government. After ruling NZ First out as a possible coalition partner by National, NZF has slumped to 3%.
Oranga Tamariki review: Deplorable, despicable and unacceptable !
Martyn 'Bomber' Bradbury, The Whānau Ora report into Oranga Tamariki is out, and it is a deplorable, despicable and unacceptable read!
0
TMP2
           

Submit

Glossary

 

Subscribe

Enter your email address to receive regular updates from Waatea News.
  • fb

On Air Now
Radio Waatea

12:00am - 06:00am