Transfer of fishery units or quota units
96CN Transfer of fishery units or quota units
As soon as practicable after an application for the transfer of fishery units or quota units has been approved, the Joint Authority 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 is taken to have occurred under regulation 96CC, the Joint Authority must amend the register to record that the number of units transferred:
are no longer attached to the ONLF 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 ONLF licence or, if transferred to the Territory, are held by the Territory.
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