Commercial fishing quota holders whose catch will be reduced by new marine farms will be entitled to compensation under changes to aquaculture legislation heard under urgency in Parliament yesterday.
The Government planned to hear the third reading of the Aquaculture Amendment Bill (No 3) last night.
Fisheries Minister Phil Heatley has said the legislation would remove a long-standing "roadblock" for new marine farm applications and provide an efficient framework "that enables marine-based aquaculture to fulfil its economic potential".
The Government saw aquaculture as a key part of its economic growth agenda and the industry is targeting growth in export sales from $380 million to $1 billion by 2025.
The bill comprises amendments to four separate acts, including the Resource Management Act and the Maori Commercial Aquaculture Claims Settlement Act 2004, and will bring all existing farms and applications for farms under a new regime.