49
CurrentWho may hold shares
49 Who may hold shares
(1)
The persons eligible to hold shares are not limited to the holders of commercial fishing licences or natural persons.
(2)
However, the regulations may prohibit a class of persons from holding shares. For example, the regulations may prohibit persons from holding shares if they have a record of offences against this Act or if they are individuals not resident in Australia or they are companies in which any such individuals have a controlling interest.
(3)
Two or more persons may jointly hold the same share.
(4)
This section does not affect any disqualification from holding shares under this Act.
This Act’s bill:Explanatory memorandum
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