Fisheries Regulations 1992

As soon as practicable after an application for the transfer of fishery units or quota units has been approved, the Director must enter in the register the details of the transfer, including the date on which the transfer takes effect.

As soon as practicable after a transfer of fishery units or quota units takes effect or, in the case of fishery units, is taken to have occurred under regulation 78B, the Director must amend the register to record that the number of units transferred:

are no longer attached to the CLF licence from which they were transferred or, if transferred by the Territory, are no longer held by the Territory; and

are attached to the transferee's CLF licence or, if transferred to the Territory, are held by the Territory.