Fishery units generally
106 Fishery units generally
(1) A fishery unit is a unit that entitles the holder of the DF licence to which the unit is attached to be allocated a share of the total allowable catch for the species group to which the unit relates.
Note for subregulation (1)
The share is calculated under regulation 107C.
A fishery unit does not expire.
A fishery unit may be transferred under Subdivision 5.
(4) A fishery unit attached to a DF licence that is cancelled is taken to be transferred to the Territory on the day of the cancellation.
(5) A fishery unit attached to a DF licence that expires and is not renewed within the period permitted under section 16 of the Act is taken to be transferred to the Territory on the day after the period ends.
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