25 Mar 2010

Aquaculture settlement legislation passed

12:32 pm on 25 March 2010

Aquaculture New Zealand is describing a $97 million settlement with iwi as a milestone for the growing industry.

Parliament passed the Maori Commercial Aquaculture Claims Settlement Amendment Bill on Wednesday evening.

The agreement covers areas including the Marlborough Sounds, Tasman Bay and the Hauraki Gulf.

It follows on from an Act passed in 2004, which provided for full and final settlement of Maori commercial aquaculture interests since 1992.

Aquaculture New Zealand chief executive Mike Burrell says the settlement means iwi are no longer stalled from getting more involved in the industry.

Maori Party MP Rahui Katene told Waatea News the new law provides iwi with a one-off cash payment of $97 million.