About

Funding

The Maori Fisheries Act4 provides for the following funds to be paid to Wai Maori by Te Ohu Kai Moana Trustee Limited:

Wai Maori will receive up to $2 million to:

i. undertake the responsibilities of the Maori Fisheries Act 2004

ii. cover the operational costs of Wai Maori including directors fees accommodation, travel

and staff costs

iii. develop an annual plan that is approved by Te Ohu Kai Moana Trustee Limited

iv. Provide annual reports to Te Ohu Kai Moana Trustee Limited

By October 2009 there will be a $10 million capitalisation of Wai Maori5 with a further $10 million being distributed to Wai Maori over the following 10 years.6 Ongoing funding will be limited to the income generated by the $20 million received.