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Fisheries Act 1996

Registration of transfers, mortgages, caveats, etc - Mortgages of quota

137: Mortgages of annual catch entitlement prohibited

You could also call this:

"You can't use your fishing limit as security for a loan."

Illustration for Fisheries Act 1996

You cannot mortgage your annual catch entitlement. This means you cannot use it as security for a loan. Any mortgage on an annual catch entitlement has no effect under the Fisheries Act 1996.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397658.

Topics:
Environment and resources > Farming and fishingMoney and consumer rights > Banking and loans
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136: Mortgages of quota, or

"Rules for using quota shares as security"

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Part 8Registration of transfers, mortgages, caveats, etc
Mortgages of quota

137Mortgages of annual catch entitlement prohibited

  1. No annual catch entitlement shall be subject to a mortgage and no mortgage over any annual catch entitlement has any effect for the purpose of this Act.