IWI IKA - supporting iwi fisheries

Reporting Requirements for an AHC

Annual Reports and Plans
All MIO that hold fisheries settlement assets are required to meet specific reporting requirements about how they have managed and intend to continue managing those assets.  A MIO must produce an annual plan and an annual report each year. 

The annual report must include information about a MIO’s achievements during the previous financial year as compared against what it had planned to do.  The annual plan must set out the MIO’s objectives for the current or coming financial year.

Presenting the documents
Copies of the annual report must be made available to iwi members in writing at least 20 days prior to the MIO’s AGM. The annual plan need only be presented to iwi members at the AGM but can also be made available in advance of the AGM.  However, if you wish, you can make the Annual Plan available in advance of the AGM. The information that must be made available in writing to iwi members includes:

  • MIO Annual report for the previous financial year
  • Annual audited financial report
  • Report on any sales and exchanges of settlement quota
  • Report on the interactions of the MIO in fisheries matters
  • MIO Annual Plan for the next financial year
  • AHC/Subsidiary AHC Annual Report

Templates for Annual Reports

MIO Annual Report for the Previous Financial Year
Not less than 20 days prior to the general meeting, the MIO must provide an annual report for the previous financial year that reports against the objectives set out in the annual plan for the previous year.  The annual report must include information on the steps taken by the MIO to increase the number of registered members, a comparison of its performance against the objectives set out in the annual plan, including - (A) changes in shareholder or member value; and (B) dividend performance or profit distribution.

MIO Annual Audited Financial Report
This must be prepared in accordance with generally accepted accounting practice and must account separately for settlement cash assets.

MIO Report on Sales and Exchanges of Settlement Quota
The purpose of this report is to provide information on any sales and exchanges of settlement quota in the previous year.  The information in the report must include:

  • The quantity of settlement quota held by the AHC of the MIO in that year
  • The value of any settlement quota sold or exchanged
  • The identify of the purchaser or other party to the exchange
  • Any transaction with settlement quota that has resulted in a registered interest by way of caveat or mortgage being placed over the quota
  • The settlement quota interests that have been registered against the quota shares of the MIO
  • The value of any AFL income shares sold, exchanged or acquired.

MIO Report on the interactions of the MIO in fisheries matters
A report on the interactions of the MIO in relation to fisheries matters with:

  • other entities within the iwi
  • with other MIOs
  • with Te Ohu Kaimoana

AHC reporting and accountability to iwi members?
Like its MIO, an AHC must produce an Annual Report and the information in this report must also be made available to iwi members.  However, whether the report information is presented to iwi members directly by AHC directors or indirectly by MIO representatives is a matter to be worked out between the MIO representatives and its AHC directors.  It is advisable for the AHC to present its report information to the MIO before presentation to iwi members.  This is by virtue of the MIO’s role as sole shareholder and so that the iwi group provides a unified face to iwi members.

For further information consult your legal advisor and Schedule 7, Maori Fisheries Act 2004.