Fisheries Act 1994

This section applies to a person if—

the person is, other than because of a temporary transfer, the holder of an authority (the eligible authority) that—

is a licence, or a quota authority or another authority to which a quota entitlement applies; and

authorises the taking of fish for trade or commerce in a fishery described under a regulation as a commercial fishery; and

a regulation, or a fisheries declaration or quota declaration other than an urgent declaration, is amended (the relevant amendment); and

because of the relevant amendment, an entitlement to take fisheries resources that the person had under the eligible authority immediately before the relevant amendment commences is lost or reduced.

Subject to sections 44 and 48D, the person is entitled to be paid compensation by the State for the value of the loss or reduction.

However, the compensation is only payable if, under subdivision 2, a claim for the compensation has been made and the chief executive has decided to grant the claim.

This section does not prevent a regulation, fisheries declaration or quota declaration providing for payment of compensation for the making, amendment or repeal of an urgent declaration.

In this section—

make; and

repeal.