New South Wales Consolidated Acts

FISHERIES MANAGEMENT ACT 1994 - SECT 73A

73A Duration of shareholding-category 2 share management fishery

(1) Shares in a category 2 share management fishery are to be issued initially for a period of 15 years (calculated from the commencement of the management plan for the fishery).

(2) If by the end of the first 10 years of that 15-year period (or any subsequent period for which the shares are renewed):

(a) a new management plan has not been made under this Part, and

(b) there is no order in force under Division 2A that terminates the fishery at the end of current term of the shares in the fishery,

the shares are taken to be renewed for a further period of 15 years and the balance of the current period is terminated.

(3) If by the end of the first 10 years of that 15-year period (or any subsequent period for which the shares are renewed) a fishery review has been conducted and a new management plan has been made under this Part, the shares are taken to be renewed (from the date the new plan commences) for a further period of 15 years and the balance of the current period is terminated.