The Maori Fisheries Settlement

After further negotiations between Maori and the Crown, an interim settlement was reached and implemented through the Maori Fisheries Act 1989.

This Act established the Maori Fisheries Commission, transferred assets from the Crown ($10 million and 10% of existing quota held by the government), and authorised the declaration of taiapure (customary and recreational fishing grounds). The Commission set aside its cash for the purchase of quota in future.

In the early 1990s, New Zealand's largest seafood firm, Sealord Products Ltd was offered for sale. This presented an opportunity to obtain the significant amount of quota required to settle Maori fishing claims. Negotiations culminated in the 1992 Deed of Settlement, which became the basis of the Treaty of Waitangi Settlement Act 1992; which provided full and final settlement of Maori commercial fisheries claims.

Under this settlement, Maori were given $150 million for a half share of Sealord Products Ltd and in addition to quota already received under the 1989 Act, would receive 20 percent of all new QMS species. The settlement required that the assets must be used to benefit all Maori, and ultimately allocated to iwi.