New Zealand Legislation: Acts

9 Crown’s obligations in respect of new space

• (1) The Crown must ensure that the trustee is provided with settlement assets that are representative of 20% of the new space by way of 1 or more of the following:

  • (a) the provision of authorisations to apply to occupy space in the coastal marine area for the purpose of aquaculture activities and any payment required by section 13(4):

  • (b) the payment of a financial equivalent of that space:

  • (c) entering into 1 or more regional agreements under section 10.

  (2) The settlement assets provided under subsection (1)(a) must be representative of 20% of the anticipated new space.

  Section 9: substituted, on 1 October 2011, by section 7(1) of the Maori Commercial Aquaculture Claims Settlement Amendment Act 2011 (2011 No 69).