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The Act provides for the transfer of the central North Island Crown forests land, worth $196 million and associated accumulated rentals of approximately $223 million to the seven iwi groups that make up the Central North island Forest Iwi Collective.

"This innovative settlement begins the process of providing comprehensive settlements of the historical claims for seven iwi groups and more than 100,000 of their members. It is the largest single settlement that has been completed and will provide a solid base for the economic and social development for the people of the Central North Island," Treaty Negotiations Minister Michael Cullen said.

"The settlement was completed after Central North island iwi joined together to develop a proposal for the use and allocation of the Crown forest licensed land in the region. Without the leadership of the iwi in providing solutions to issues of allocation and overlapping claims this settlement would have taken considerably longer.

"The Crown was happy to proceed with the settlement proposal if it had the strong support of the groups that make up the Collective. After a lengthy and open endorsement process we were convinced that the support was there to make progress and pass this legislation."

"The settlement represents the culmination of many years of efforts by many people representing both iwi and the Crown. It is a landmark in settlement progress and will provide inspiration to all that creative thinking and goodwill can result in solutions to even the most difficult and complex settlement issues.

"The members of the CNI Collective will now turn to the task of managing and allocating this major asset, and negotiating their individual comprehensive historical settlements. The Crown is committed to doing it all it can to assist the members of the Collective in these tasks," Dr Culen said.

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