maori commercial aquaculture settlement - Ministry of Fisheries

participation in commercial aquaculture.
However, early payments would provide iwi with
capital to invest in aquaculture if they wished.
114. This option could provide certainty over
outcomes sooner rather than later. However, to
bring payment of the financial equivalent
forward, the Crown would need to be confident
that significant amounts of space would not
become available through the other methods
before the 2014 deadline.
115. Some criteria might apply to the option of early
cash payment. These may include:
• the use of early payment to be at the
Crown’s discretion and subject to agreement
of the iwi concerned
• confidence that space would not become
available through the other methods
• the ability of the Crown to spread the fiscal
impact (that is, where the Crown did agree
to provide cash equivalent early and where
total amounts to be paid are large, the
payments might be phased over time)
• the option to pay a proportion of the total
liability for each region or harbour early to
allow for the possibility that space might
become available before 2014.
Discussion on settlement approaches
116. These two possible amendments of the Act
represent two different approaches to adapting
to the changed circumstances of the
aquaculture settlement. The regional
agreements proposal (Option A) would open up
the possibilities for discharge of the precommencement
space obligation to include
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anything that the parties can agree on, as long
as it does address the obligation within the
current statutory time frame. However, to take
advantage of this flexibility, iwi would need to
take the initiative to develop such proposals
and seek Crown agreement. This may consume
both time and resources.
117. Early payment of the financial equivalent
(Option B), could address the issue that new
space has not created the settlement assets
anticipated in 2004. Agreement would still be
required among iwi and with the Crown that this
was the desired option, and over what would be
the conditions of using it in a particular region.
In a sense, this would be a restricted version of
Option A, where the only option in the
agreement is cash payment.
118. In considering the potential for improving
outcomes through amending the Act, the time
required to prepare statutory amendments and
have them passed by Parliament should be
contemplated. Any delays may effectively
negate potential benefits of improved processes.
119. Submitters are encouraged to give these two
options careful consideration and provide their
views. Submitters may also wish to provide
comments on any alternative options to deliver
the Crown’s pre-commencement space
obligation.
120. What are your views on the two options?
Is there another option that could be
considered?