Power to implement redefinition proposal that has majority support
55F Power to implement redefinition proposal that has majority support
If a redefinition proposal has majority support, the Minister may implement the redefinition proposal, including by cancelling shares and issuing or re-issuing shares as contemplated by the redefinition arrangements for the redefinition proposal.
The regulations may make further provision for the implementation of redefinition proposals.
Section 45 does not apply to the redefinition of an existing share management fishery under a redefinition proposal that has majority support.
No compensation (including damages or any other form of compensation) is payable because of the cancellation of shares under this section or anything else that is done to implement a redefinition proposal that has majority support.
Subsection (4) does not apply to compensation (if any) that is expressly offered to shareholders under a redefinition proposal.
This provision refers to the regulations (The regulations may make
). Made under this Act:
- Fisheries Management (Abalone Share Management Plan) Regulation 2000
- Fisheries Management (Aquaculture) Regulation 2024
- Fisheries Management (Authority to Fish Silver Perch) Order 2007 · Regulation
12 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandum
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