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Fisheries Act 1996

Quota management system - Allocation of quota

43: Rounding of amounts or shares

You could also call this:

"How quota shares are rounded to whole numbers"

Illustration for Fisheries Act 1996

When the chief executive gives you quota shares or changes the number you have, they can round the number up or down. This is to make sure the total quota shares for a stock always adds up to 100,000,000. The chief executive also wants to ensure you do not hold a part of a quota share.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM395968.

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Part 4Quota management system
Allocation of quota

43Rounding of amounts or shares

  1. If the chief executive allocates a number of quota shares to any person or increases or decreases the number of quota shares held by any person under this Act, the chief executive may round up or round down the number of quota shares consequently held by that person to ensure that—

  2. the sum of quota shares for the stock is always 100 000 000; and
    1. no person holds a part of a quota share.