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Fisheries Act 1996

Aquaculture - Aquaculture agreements and compensation declarations - Compensation

186ZN: Compensation to be provided by coastal permit holder to affected quota owners if aquaculture agreement not lodged

You could also call this:

"Paying Quota Owners if You Don't Lodge an Aquaculture Agreement On Time"

Illustration for Fisheries Act 1996

If you have a coastal permit and want to do aquaculture, you must follow some rules. You need to pay compensation to quota owners if you haven't lodged an aquaculture agreement on time. The compensation is for the loss of value of their quota, and an arbitrator will decide how much you must pay, as stated in section 186ZO. You must pay each quota owner who is affected by your actions. A quota owner is someone who is registered as a quota owner when the reservation is notified in the Gazette, as per section 186H(2)(a).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4075833.

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186ZNA: Compensation to be provided by negotiator if aquaculture agreement not lodged in respect of aquaculture area, or

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Part 9AAquaculture
Aquaculture agreements and compensation declarations: Compensation

186ZNCompensation to be provided by coastal permit holder to affected quota owners if aquaculture agreement not lodged

  1. This section applies if—

  2. the chief executive has, in relation to a coastal permit, made a reservation in relation to commercial fishing of quota management stock; and
    1. the holder of the coastal permit has not lodged an aquaculture agreement in respect of the stock before the expiry of the period specified in section 186ZI(1)(b) or any extension of that period under section 186ZI(2), subject in either case to section 186ZI(4).

      1. If the holder of the permit wishes to undertake aquaculture activities authorised by the permit, the holder must provide to each affected quota owner compensation for the loss of value of the owner's affected quota as determined by an arbitrator appointed in accordance with section 186ZO.

      2. In subsection (2), quota owner means a person who is a registered quota owner as at 5 pm on the date on which the relevant reservation is notified in the Gazette under section 186H(2)(a).

      Notes
      • Section 186ZN: inserted, on , by section 24 of the Fisheries Amendment Act 2011 (2011 No 68).