Te Wai Maori Trust

Te Wai Maori Trust (“The Trust”) and its sole corporate trustee Te Wai Maori Trustee Limited (“Wai Maori”) were established pursuant to the Maori Fisheries Act 2004 (MFA). The key legislative requirements for the Trust and Wai Maori are set out below.

Purpose of Te Wai Maori Trust

Section 94 of the MFA states that:

“The purpose of Te Wai Maori Trust is to hold 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.” (emphasis added).

Functions of Te Wai Maori Trustee Limited

Section 95 of the MFA sets out the functions of Te Wai Maori Trustee Limited:

“In achieving the purpose of Te Wai Maori Trust, Te Wai Maori Trustee Limited must—

1. manage the trust funds; and
2. distribute the annual trust income for activities that include—
   1. undertaking or funding research, development, and education related to Maori interests in freshwater fishing; and
   2. promoting the protection and enhancement of freshwater fisheries habitat in lakes, rivers, and other water bodies, particularly those that have traditionally supported iwi and whose shores have been the location of their marae; and
   3. promoting the establishment of freshwater fisheries; and
   4. using its resources to bring direct or indirect benefit to Maori in respect of their freshwater fishing interests.”

Freshwater fisheries are defined in the MFA as:

“any fishery in freshwater in New Zealand, excluding any sports fishery or unwanted aquatic life or activities conducted under the Freshwater Fish Farming Regulations 1983.”

Funding

From 2005 – 2009 Wai Maori received 2 million to undertake the activities and meet the functions as defined in the MFA. In October 2009 there was a $10 million capitalisation of Wai Maori with a further $10 million being distributed to Wai Maori over the following 10 years. Ongoing funding will be limited to the income generated by the $20 million received.

Distributions (provision of funds)

Section 98 of the MFA states that:

The directors of Te Wai Maori Trustee Limited may make distributions to Maori, mandated iwi organisations, and other Maori organisations for the purpose of Te Wai Maori Trust, subject to any conditions provided for by the trust deed.

Before making a distribution, the directors must take into account the extent to which-

1. a proposal will assist in coordinating and consolidating the activities of the recipients with the activities of agencies involved in freshwater fisheries and habitat management; and
2. a proposal provides a model that is able to be applied by the groups referred to above (Maori, mandated iwi organisations, and other Maori organisations); and
3. the activities proposed to be undertaken with the distributions are being undertaken by other mandated Iwi organisations or agencies; and
4. the functions of Te Wai Maori Trustee Limited are being undertaken by other agencies.