New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The trustee must recognise an iwi aquaculture organisation and record its recognition in the iwi aquaculture register only if—
(a) the iwi aquaculture organisation is a mandated iwi organisation under the Maori Fisheries Act 2004; and
(b) the trustee is satisfied that the constitution of the organisation authorises the organisation to act on behalf of its iwi in relation to aquaculture claims and settlement assets under this Act; and
(c) in the case of a joint mandated iwi organisation (as defined in section 5 of the Maori Fisheries Act 2004), the trustee is satisfied that the constitution of the organisation includes a process for determining the division of settlement assets between the organisation and a withdrawing group (as defined in section 19 of that Act).
(2) The trustee must recognise a new iwi aquaculture organisation and record its recognition in the iwi aquaculture register in place of another iwi aquaculture organisation (an existing iwi aquaculture organisation) if—
(a) the new iwi aquaculture organisation is entitled to be recognised under subsection (1); and
(b) before becoming a mandated iwi organisation under the Māori Fisheries Act 2004, the existing iwi aquaculture organisation notified the members of the iwi of the proposed replacement and of the effect of that replacement in terms of subsections (3) and (4).
(3) On and from the time when the new iwi aquaculture organisation is recognised in place of the existing iwi aquaculture organisation under subsection (2), all rights and interests of the existing iwi aquaculture organisation under this Act become the rights and interests of the new iwi aquaculture organisation.
(4) Without limiting subsection (3),—
(a) any regional agreement entered into under section 10 by the existing iwi aquaculture organisation is to be treated as having been entered into by the new iwi aquaculture organisation; and
(b) any entitlement, claim, agreement, or written statement in respect of the allocation of settlement assets made or entered into by the existing iwi aquaculture organisation is to be treated as having been made or entered into by the new iwi aquaculture organisation; and
(c) any settlement assets held by the existing iwi aquaculture organisation become the settlement assets of the new iwi aquaculture organisation; and
(d) any settlement assets held by an enterprise under section 32(3) for the existing iwi aquaculture organisation are to be held for the new iwi aquaculture organisation.
(5) To avoid doubt, section 50 does not apply to settlement assets that become the settlement assets of the new iwi aquaculture organisation by subsections (3) and (4).
Section 33(2): added, on 1 October 2011, by section 12 of the Maori Commercial Aquaculture Claims Settlement Amendment Act 2011 (2011 No 69).
Section 33(3): added, on 1 October 2011, by section 12 of the Maori Commercial Aquaculture Claims Settlement Amendment Act 2011 (2011 No 69).
Section 33(4): added, on 1 October 2011, by section 12 of the Maori Commercial Aquaculture Claims Settlement Amendment Act 2011 (2011 No 69).
Section 33(5): added, on 1 October 2011, by section 12 of the Maori Commercial Aquaculture Claims Settlement Amendment Act 2011 (2011 No 69).
