New South Wales Consolidated Acts

FISHERIES MANAGEMENT ACT 1994 - SECT 73

73 Duration of shareholding-category 1 share management fishery

(1) Shares in a category 1 share management fishery are to be issued initially for a period of 10 years (calculated from the commencement of the management plan for the fishery).

(2) If during that 10-year period (or any subsequent period for which the shares are renewed) a fishery review is conducted and a new management plan is made under this Part, the shares are taken to be renewed (from the date the new plan commences) for a further period of 10 years and the balance of the current period is terminated.

(3) If a new management plan is not made by the end of that 10-year period (or any subsequent period for which the shares are renewed), the shares are taken to be renewed, at the end of their current period, for a further period of 10 years.