Additional allocation of quota units for undercatch
141JB Additional allocation of quota units for undercatch
This regulation applies if:
(a) one or more eligible quota units attached to a TRF licence expire at the end of a licensing year (the first year); and
(b) the licence is renewed the following licensing year (the second year).
(2) The Joint Authority must allocate to the TRF licence the number of quota units for each species group that is equal to the lesser of:
(a) the number of eligible quota units for the relevant species group that expired at the end of the first year; or
(b) the number of quota units for the relevant species group (the relevant number) calculated in accordance with the following formula:
A = (AQ + BQ - TQ) x 0.2
where:
A is the relevant number.
AQ is the number of eligible quota units for the relevant species group that were allocated to the licence during the first year.
BQ is the number of eligible quota units for the relevant species group that were transferred to the holder of the licence during the first year.
TQ is the number of eligible quota units for the relevant species group that were transferred from the licence during the first year.
(3) However, if the number of quota units to be allocated is not a multiple of 1, the number must be:
rounded to the nearest whole unit; or
(b) if the number is a multiple of 0.5 – rounded up to the nearest whole unit.
The allocation under subregulation (2) must be made:
(a) immediately after an allocation to the TRF licence is made under regulation 141JA; or
(b) if the information required to make the allocation is not available at that time – as soon as practicable after the information becomes available.
(5) However, if under subregulation (4)(b) the Joint Authority is required to allocate quota units to a TRF licence in relation to which any fees are due then, despite subregulation (4)(b), the Joint Authority must not allocate the quota units to the licence until the fees are paid.
In this regulation:
eligible quota units means:
(a) quota units allocated to the TRF licence under regulation 141JA or 221; or
(b) quota units allocated to another TRF licence under regulation 141JA or 221 and subsequently transferred to the holder of the TRF licence.
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