Fishery units generally
141F Fishery units generally
(1) A fishery unit is a unit that entitles the holder of the TRF 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.
A fishery unit does not expire.
A fishery unit may be transferred under Subdivision 5.
(4) A fishery unit attached to a TRF 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 TRF 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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