76AApplication for catch balancing relief

1. In this section and section 76B,—

   close of registration, in relation to a stock, means the close of the 15th day after the end of the fishing year for the stock

   original owner means the person who, at the close of registration, owned the specific amount of annual catch entitlement for which the chief executive grants catch balancing relief under this section

   specific amount means the specific amount of annual catch entitlement for which the chief executive grants relief.

2. A commercial fisher may, at any time before the close of the 15th day of the third month after the end of a fishing year, apply to the chief executive for catch balancing relief for any amount of annual catch entitlement for a stock for the fishing year.

3. The chief executive may grant an applicant catch balancing relief for any specific amount of annual catch entitlement that is equal to or less than the amount for which the applicant applied.

4. The chief executive may grant catch balancing relief for a specific amount of annual catch entitlement only if he or she is satisfied that—

5. the applicant has received written notice from the chief executive that, at the close of registration, the applicant's reported catch for the stock for the fishing year exceeded the applicant’s annual catch entitlement for the stock for the fishing year by at least the specific amount; and
6. at the close of registration, the original owner owned at least the specific amount of annual catch entitlement; and
7. either—
   1. the applicant believed on reasonable grounds that at least the specific amount of annual catch entitlement had been transferred to the applicant before the close of registration; or
   2. at least the specific amount of annual catch entitlement would have been transferred to, or owned by, the applicant before the close of registration, if not for a mistake made by the applicant or any other person; and
8. at the close of registration, the original owner's annual catch entitlement for the stock for the fishing year exceeded the original owner's reported catch for the stock for the fishing year by at least the specific amount; and
9. the original owner has consented in writing to the applicant being treated as the owner of at least the specific amount of annual catch entitlement on and from the close of registration; and
10. it would be unjust to refuse to grant the applicant catch balancing relief for the specific amount of annual catch entitlement; and
11. if an amount of additional annual catch entitlement has been allocated to the original owner under section 67A, but would not have been allocated if the original owner had not owned the specific amount of annual catch entitlement on the close of registration, adequate arrangements have been made to transfer that amount of additional annual catch entitlement to the Crown.

12. In considering whether to grant an applicant catch balancing relief, the chief executive may request and consider any information that he or she thinks relevant, such as—

13. information about transfers of annual catch entitlement to or from the applicant or the original owner, or about other transactions involving the applicant or the original owner:
14. information about the applicant’s usual arrangements for acquiring annual catch entitlement to balance the applicant's reported catch:
15. any submissions by the applicant that it would be unjust to refuse catch balancing relief.

16. The chief executive must give written notice, to the applicant and the original owner, of the chief executive's decision to grant or refuse catch balancing relief.

17. Any deemed value amount demanded by the chief executive that may be affected by an application for catch balancing relief remains payable despite the application having been made.