Immediate TAC adjustment
34D Immediate TAC adjustment
An adjustment (referred to in this Part as an immediate TAC adjustment) is required to be made to the CPI adjusted price for a fishing period if the percentage change in TAC for the fishing period is 10% or more, whether that change reflects an increase or a decrease in TAC.
If the percentage change in TAC for a fishing period is an increase of 10% or more, the CPI adjusted price for the fishing period is to be increased by $1 for each full 10% of the percentage change in TAC.
If the percentage change in TAC for a fishing period is a decrease of 10% or more, the CPI adjusted price for the fishing period is to be decreased by $1 for each full 10% of the percentage change in TAC.
The adjusted beach price for a fishing period in which an immediate TAC adjustment is required is the CPI adjusted price as adjusted under this clause, unless one or more flow through TAC adjustments are also required to be made to the CPI adjusted price for the same fishing period.
Note—
For example, if the percentage change in TAC for the fishing period is a decrease of 20%, the adjusted beach price for that fishing period is the CPI adjusted price decreased by $2 (assuming no flow through TAC adjustment is required).
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