Chief executive Dion Tuuta said Ministry for Primary Industries officials indicated that the earliest it could be put in place would be the end of 2018.
The 2015 vote was triggered by an independent review by Wellington barrister Tim Castle, who recommended Te Ohu Kaimoana be wound down with the power returned to iwi. While that resolution was ultimately rejected, iwi supported Castle's view that its income and control shares in commercial fishing operation Aotearoa Fisheries, now Moana New Zealand, be distributed to iwi and that its directors be appointed on merit.
Among the resolutions Dion Tuuta said were "overwhelmingly supported" was an amendment to Aotearoa Fisheries' dividend policy giving directors flexibility to pay a smaller return than the mandated 40 percent of net profit if the conditions warrant.
Iwi also supported a proposal for Te Ohu Kaimoana to keep some funds with the rest distributed equally among iwi, but not the schedule 5 entities such as the National Urban Māori Authority.
The divide between iwi and urban Māori spilled over into the courts last year when National Urban Māori Authority (NUMA) and Te Waipareira Trust won a High Court claim for representation on Te Putea Whakatupu Trust, set up to provide training and research opportunities in the fisheries sector.
In January, Te Ohu Kaimoana named Willie Jackson, Norm Dewes and Willie Te Aho to the Te Putea Whakatupu board, although Jamie Tuuta today said Te Aho's resignation was accepted yesterday. Te Ohu Kaimoana director Rangimarie Hunia is filling Te Aho's role on an interim basis.