20 July 2004

Crown Forestry Rental Trust Releases Annual Report

The Trustees of the Crown Forestry Rental Trust presented their annual report to Treasury, the New Zealand Maori Council and Federation of Maori Authorities at 11.00am today.

The Hon Parekura Horomia, Minister of Maori Affairs and Hon John Tamihere, Minister for Land Information also attended the presentation.

Trust Chairman, Sir Graham Latimer said the report signalled changes to how the Trust intended to do business in the future. “Over the last six months the Trust has shed all non-core functions and streamlined the organisation. Management has clarified Trust funding criteria and policies.”

The report gives an appraisal of the progress of claims involving Crown forest land and urges the parties to examine better ways of resolving claims.

“The CFRT doesn’t have the power to settle claims.” Sir Graham says, “But we want to make sure that everything we do helps Maori and the Crown move the Treaty settlement process along as quickly as possible.”

Sir Graham says Trustees look forward to the day when the claims to Crown forest land are settled and the Trust can be wound up. “The sooner the claims to Crown forest licensed land are settled and the assets released for investment the better.”

Background

The Crown Forestry Rental Trust is an independent trust with equal numbers of Maori and Crown appointed Trustees. It receives no taxpayer funding.

The main purpose of Trust is the management and administration of interest earned from investment of rental proceeds from Crown forest licensed land. It uses this interest to assist eligible Maori claimants in the preparation, presentation and negotiation of claims involving Crown forest licensed land before the Waitangi Tribunal.

ENDS

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