New South Wales Consolidated Acts

FISHERIES MANAGEMENT ACT 1994 - SECT 71A

71A Issue of further classes of shares in fishery

(1) A management plan for a share management fishery may provide for the creation and issue of further classes of shares in the share management fishery.

(2) Any such further classes of shares in the fishery are to be allocated to shareholders on the basis of criteria provided for by the management plan.

(3) The criteria are to provide for the recognition of catch history of persons in the fishery during the period from 1986 to 1993 (both years inclusive) or during such other period as the plan provides.

(4) For the purpose of allocating shares in the fishery, if the catch history of a person is a component of a fishing business, the catch history of the person is taken to be the catch history of the person (or persons) who own that fishing business when shares are allocated.

(5) If a management plan provides for the issue of further classes of shares in a share management fishery, it is to include provision for the making of appeals to the Share Appeal Panel against decisions made under the plan in relation to the allocation of the shares.