Part 4Quota management system
Allocation of quota
50Rights of Crown in relation to quota
Without limiting any other provision of this Act, the chief executive may, on behalf of the Crown,—
- purchase any individual transferable quota or provisional catch history:
- hold any quota allocated or acquired, or any provisional catch history, without being obliged to offer it to any person:
- transfer any individual transferable quota or provisional catch history held by or on behalf of the Crown:
- cancel any provisional catch history held by the Crown (and notify the Registrar accordingly).
Despite subsection (1), if settlement quota is held by the Crown as a result of forfeiture under this Act, the chief executive must, as soon as practicable after the date of forfeiture, endeavour to sell the quota to Te Ohu Kai Moana Trustee Limited or to 1 or more mandated iwi organisations in accordance with sections 161 (except subsection (2)) and 163 of the Maori Fisheries Act 2004.
If, within 18 months of the date of forfeiture, all of the settlement quota referred to in subsection (1A) has not been sold by the Crown in accordance with sections 161 (except subsection (2)) and 163 of the Maori Fisheries Act 2004, the chief executive must transfer the remaining settlement quota to Te Ohu Kai Moana Trustee Limited.
If settlement quota is transferred by the chief executive under subsection (1B), Te Ohu Kai Moana Trustee Limited must pay to the Crown a sum equivalent to the total of the cost recovery levies paid by the Crown in respect of the settlement quota for the period that the quota was held by the Crown.
Subject to this Act, if unencumbered quota or interests in quota are owned by or on behalf of the Crown, the Crown shall have all the rights and obligations that would be enjoyed by any owner of such quota or interest in quota other than the Crown.
Compare
- 1983 No 14 s 28U(1), (3)
- 1989 No 159 s 65
- 1992 No 121 s 27
Notes
- Section 50(1) heading: substituted, on , by section 14 of the Fisheries (Remedial Issues) Amendment Act 1998 (1998 No 67).
- Section 50(1): substituted, on , by section 14 of the Fisheries (Remedial Issues) Amendment Act 1998 (1998 No 67).
- Section 50(1A): inserted, on , by section 214 of the Maori Fisheries Act 2004 (2004 No 78).
- Section 50(1B): inserted, on , by section 214 of the Maori Fisheries Act 2004 (2004 No 78).
- Section 50(1C): inserted, on , by section 214 of the Maori Fisheries Act 2004 (2004 No 78).


