(1) The historical CNI forests land claims made by the Central North Island iwi to the Central North Island (CNI) forests land are based on historical breaches of the Treaty of Waitangi by the Crown and the desire of those iwi to secure the return of that land and to achieve an enduring settlement of those claims:

(2) The Crown and the CNI Iwi Collective have agreed to negotiate in good faith in accordance with the framework and principles of the Crown Forests Agreement that was entered into on 20 July 1989 between representatives of Māori and the Crown and the Crown Forest Assets Act 1989, in order to reach a fair and durable settlement of those historical claims:

(3) The Crown and the CNI Iwi Collective have made significant progress towards reaching a collective settlement, and the Crown has therefore agreed to facilitate the completion of that settlement by vesting the CNI forests land in a company, to be known as CNI Iwi Holdings Limited. The company will act as trustee of the CNI Iwi Holdings Trust and will hold and administer the CNI forests land for the CNI Iwi Collective and the Crown in accordance with this Act, the deed of settlement between the CNI Iwi Collective and the Crown, and a deed of trust:

(4) Under the terms of that deed of trust, 90% of the beneficial interest in the CNI forests land is to be held for the CNI Iwi Collective and the individual beneficial entitlement of each member of that Collective is to be determined by reference to the allocation process that has been agreed amongst those members and is set out in this Act. The remaining 10% of the beneficial interest in the CNI forests land is to be held for the Crown for a period of 6 years beginning on the date of vesting of the land in the company. The Crown agreed proportion will allow claims to the forests land by other CNI claimants who are not represented by the CNI Iwi Collective to be settled during that period of 6 years.