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Fisheries Act 1996

Registration of transfers, mortgages, caveats, etc - Transfers of quota or annual catch entitlement

133: Transfers of annual catch entitlement

You could also call this:

"Transferring Your Fishing Catch Limit"

Illustration for Fisheries Act 1996

You can transfer your annual catch entitlement, but you must own it. The amount you transfer cannot have a caveat on it. You must not be an overseas person, or have consent to acquire it if you are. You can transfer entitlement for the next fishing year, but it will not be registered until then. The chief executive will not register a transfer that takes effect after it is presented. You cannot transfer part of a kilogramme of annual catch entitlement. The chief executive will not accept a transfer that is to take effect on a date after it is presented for registration.

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Part 8Registration of transfers, mortgages, caveats, etc
Transfers of quota or annual catch entitlement

133Transfers of annual catch entitlement

  1. No transfer of annual catch entitlement for any stock shall be registered under this Act unless, at the time the transfer is to be registered,—

  2. the transferor owns the annual catch entitlement to be transferred; and
    1. the amount of annual catch entitlement to be transferred is not subject to any caveat registered under this Act; and
      1. the person is not an overseas person or, if an overseas person, either has obtained consent under the overseas investment fishing provisions to acquire annual catch entitlement or is exempt from the requirement for that consent.

        1. Subsection (4) does not prevent the chief executive receiving in any fishing year a transfer of an annual catch entitlement that relates to the next fishing year and is intended to take effect on the commencement of the next fishing year, but no such forward transfer shall be registered until the commencement of that next fishing year.

        2. A part of a kilogramme of annual catch entitlement is not transferable.

        3. The chief executive shall not accept for registration a transfer that is expressed to take effect on a date after the date on which it is presented for registration.

        Notes
        • Section 133(1)(b): amended, on , by section 75 of the Overseas Investment Act 2005 (2005 No 82).
        • Section 133(1)(c): added, on , by section 75 of the Overseas Investment Act 2005 (2005 No 82).
        • Section 133(2): amended, on , pursuant to section 90(2) of the Fisheries Act 1996 Amendment Act 1999 (1999 No 101).
        • Section 133(4): amended, on , pursuant to section 90(2) of the Fisheries Act 1996 Amendment Act 1999 (1999 No 101).