Fisheries Regulations 1992

(1) On 1 July in each licensing year, the Director must allocate the number of quota units mentioned in subregulation (3) to each CLF licence to which fishery units are attached.

(2) If a CLF licence to which fishery units are attached is renewed after 1 July in a licensing year, on the date the licence is renewed, the Director must allocate the number of quota units mentioned in subregulation (3) to the licence.

(3) The number of quota units to be allocated for each CLF species is the number calculated in accordance with the following formula:

A = L ÷ T x TAC

where:

A is the number of quota units for the relevant CLF species to be allocated to the CLF licence.

L is the number of fishery units for the relevant CLF species attached to the CLF licence on the date of the allocation before any transfers of fishery units to or from the licence take effect.

T is the total number of fishery units for the relevant CLF species as mentioned in regulation 78C.

TAC is the total allowable catch for the relevant CLF species.

(4) However, if the number of quota units to be allocated is not a multiple of 1, the number must be:

(b) if the number is a multiple of 0.5 – rounded up to the nearest whole unit.

(5) If, under subregulation (1) or (2), the Director is required to allocate quota units to a CLF licence in relation to which any fees are due then, despite the subregulation:

(a) the Director must not allocate quota units to the licence until the fees are paid; and

(b) when the allocation is made, the number of quota units to be allocated must be calculated as if the allocation had been made on the date required under subregulation (2) or (3).