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Fisheries Act 1996

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

143: No contracting out

You could also call this:

"Your rights are protected and can't be changed by other agreements."

Illustration for Fisheries Act 1996

You have rights under sections 139 to 142. These rights apply even if your mortgage or agreement says something different. You can find more information about these rights in sections 139 to 142.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397670.

Topics:
Money and consumer rights > Consumer protectionHousing and property > Buying and selling homesHousing and property > Renting
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142: Restriction on action to recover deficiency, or

"Rules for getting back money when selling a quota to cover a debt"

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144: Application of purchase money, or

"What happens to the money when a mortgagee sells quota shares?"

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

143No contracting out

  1. Sections 139 to 142 shall have effect notwithstanding any provision to the contrary in any mortgage or other agreement.

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