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Fisheries Act 1996

Registration of transfers, mortgages, caveats, etc - Caveats

152: Person entering or maintaining caveat without due cause liable for damages

You could also call this:

"You can be liable for damages if you wrongly lodge or keep a caveat."

Illustration for Fisheries Act 1996

You can be liable for damages if you lodge a caveat and do not withdraw it when it is no longer needed. If someone asks you to withdraw the caveat and you do not do so without a good reason, you may have to pay for any losses they suffer. You should withdraw the caveat as soon as possible after being asked to do so.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397687.

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151: Procedure for removal of caveat, or

"How to remove a caveat from your fishing quota"

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152A: Registration, or

"Registering a settlement quota interest with the chief executive"

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

152Person entering or maintaining caveat without due cause liable for damages

  1. Any person who lodges a caveat and who, when that caveat is no longer needed to protect any interest of the caveator, fails, without reasonable cause, to withdraw that caveat as soon as reasonably practicable after having been requested to do so by any person prejudicially affected by the caveat, is liable in damages for any loss or damage suffered by any person as a result of the failure to withdraw the caveat.

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