New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) An iwi aquaculture organisation, in order to obtain settlement assets under this Act, must be a party to an agreement referred to in section 45(4) or must make claims for settlement assets allocation entitlements for its iwi in accordance with Schedule 1.
(2) Settlement assets allocation entitlements must be—
(a) determined by the trustee in accordance with section 45(4) or Schedule 1; and
(b) recorded by the trustee on the iwi aquaculture register.
(3) Registered settlement assets allocation entitlements are created under this Act for the sole purpose of calculating the amount of settlement assets to be allocated to iwi under this Act.
(4) A registered settlement assets allocation entitlement binds the iwi concerned in relation to the allocation of settlement assets within the regional coastline or harbour concerned as determined by the trustee in accordance with section 45(4) or Schedule 1.
(5) However, the registered settlement assets allocation entitlements do not—
(a) bind the iwi to which they relate or any other iwi in any matter that is before the Waitangi Tribunal, the Maori Land Court, or any other court, other than under this Act; or
(b) bind, compromise, advantage or disadvantage, or operate as a precedent for any other matter; or
(c) affect any customary rights, aboriginal title rights, or any rights arising under the Treaty of Waitangi in relation to any other matter.
Section 31(4): substituted, on 30 March 2010, by section 9 of the Maori Commercial Aquaculture Claims Settlement (Regional Agreements) Amendment Act 2010 (2010 No 8).
