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Fisheries Act 1996

Registration of transfers, mortgages, caveats, etc - Caveats

148: Effect of caveat

You could also call this:

"What happens when a caveat stops changes to fishing quotas"

Illustration for Fisheries Act 1996

When a caveat is in place, the chief executive cannot make any changes to a register that would mortgage or transfer quota shares or annual catch entitlement. You need to know that the chief executive can make changes if the person who lodged the caveat agrees in the correct form. The chief executive can make changes if you agree to transfer or mortgage the quota shares.

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149: Caveat against transfer of quota or annual catch entitlement, or

"Stop someone transferring their fishing quota or catch limit"

Part 8Registration of transfers, mortgages, caveats, etc
Caveats

148Effect of caveat

  1. While a caveat remains in force, the chief executive shall not make any entry on a register having the effect of mortgaging or transferring the quota shares, or transferring the annual catch entitlement, to which the caveat relates.

  2. Subsection (1) does not prevent the chief executive from making any entry if the caveator consents to the making of that entry, and the consent is in the approved form and relates to—

  3. a transfer of the caveated quota shares or annual catch entitlement, and constitutes a withdrawal of the caveat in respect of the quota shares or annual catch entitlement transferred; or
    1. a mortgage of the caveated quota shares.

      Compare
      Notes
      • Section 148(1): amended, on , pursuant to section 90(2) of the Fisheries Act 1996 Amendment Act 1999 (1999 No 101).
      • Section 148(2): amended, on , pursuant to section 90(2) of the Fisheries Act 1996 Amendment Act 1999 (1999 No 101).