Under Rescue Fish the Government will pay fair market value to buy back all existing quota rights, including those held by Māori. Maori will be free to use the funds received from the buy back and invest it in fishing or other enterprises.
Māori Treaty interests will be served in part by having co-governance of New Zealand’s fisheries resources. A new independent authority of Crown and Māori will be established to set catch limits and undertake scientific research, roles underpinned by principles enshrined in new legislation.
Commercial fishing permits will be sold via a competitive tendering system and Māori will be free to tender for those permits. A resource rental will apply to every kilo of fish landed commercially. The resource rental will be used in part to fund regulatory and research functions, and Māori will be allocated an agreed percentage of the rental income.
For non-commercial interests there will be provision for more effective localised area and resource management, guided by strong principles and Māori interests. Māori customary, commercial and recreational interests will benefit from the increased abundance and availability of fish in local waters. Benefits of Rescue Fish.