Fisheries Management Act 1994

The Minister may retain, re-allocate or sell forfeited quota.

Forfeited quota may be re-allocated in any way the Minister considers appropriate.

Forfeited quota must not be re-allocated to the commercial fishing authority holder by whom it was forfeited unless the outstanding fishing management charges payable by the commercial fishing authority holder have been paid in full.

Any forfeited quota that is sold by the Minister is to be sold by public tender.

The purchase price for forfeited quota that is sold is to be applied as follows—

if any fisheries management charge payable by the commercial fishing authority holder would, on payment, be paid to the credit of the Consolidated Fund, the outstanding amount of the charge is to be deducted from the purchase price and paid to the credit of the Consolidated Fund,

if any fisheries management charge payable by the commercial fishing authority holder would, on payment, be paid into a trust fund, the outstanding amount of the charge is to be deducted from the purchase price and paid to the credit of the trust fund,

any reasonable costs incurred by or on behalf of the Minister in connection with the sale of the forfeited quota is to be deducted from the purchase price and paid to the credit of the Consolidated Fund,

the balance (if any) remaining after payment of the amounts referred to in paragraphs (a)–(c) is to be paid to the commercial fishing authority holder.

The Minister may recover from a commercial fishing authority holder, as a debt in any court of competent jurisdiction, any reasonable costs incurred by or on behalf of the Minister in selling forfeited quota, being costs not otherwise recovered as provided by this section.

If the Minister decides not to sell forfeited quota, or to re-allocate it to the commercial fishing authority holder by whom it was forfeited, the Minister must deduct the sale value of the forfeited quota from the amount owed by the commercial fishing authority holder.

The sale value of forfeited quota is the purchase price that the Minister considers would be obtained if the forfeited quota were sold by public tender, minus the reasonable costs that would be incurred in connection with the sale.