The Waitangi Tribunal has called on the government to delay the sale of Mighty River Power so it has time to reach an agreement with those iwi who argue the sale affects their rights over the natural resources used by the state owned enterprises, including water.
The government had asked for the Tribunal to release an initial ruling by today so it could make a decision about whether it could go ahead with the float of Mighty River Power before the end of this year.
"The Tribunal has found that there is a nexus between shares in the power companies and the Māori rights in the water resources used by those power companies sufficient to require a halt, as otherwise the proposed sale would undermine the Crown’s ability to deliver the remedy required," the Tribunal said.
"The Tribunal concluded that, in practical terms, the Crown will not be able to provide a meaningful form of rights recognition for Māori in respect of its water bodies after it sells the shares to private investors. Because it cannot be stated with certainty that any other commercial rights recognition will actually come to pass, and since the opportunity exists here and now, the Tribunal concludes that the sale should be delayed while an accommodation is reached with Māori," it said.
"The Tribunal concluded that it will be impossible to devise a comprehensive scheme for the recognition of Māori rights in all water bodies throughout New Zealand in the time available. But it should be possible to agree an appropriate scheme for the three power generating companies up for partial privatisation."
The full text of the Tribunal’s letter of transmittal to the Prime Minister and other appropriate Ministers of the Crown is appended here.
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