Process for deciding number of select coral ITQ units to be issued
4 Process for deciding number of select coral ITQ units to be issued
The chief executive must decide the number of select coral ITQ units to be issued to an eligible person for prescribed select coral using the following formula—
where—
SC-ITQ means the number of select coral ITQ units to be issued to the eligible person for fish of a species of prescribed select coral.
D means the number of DS-ITQ units held by the eligible person on 19 June 2023.
P means the amount of fish of the species of prescribed select coral, in kilograms, that is the prescribed commercial catch for the species under the Fisheries Declaration 2019.
Q means the total quota entitlement for specialty coral in the coral fishery under the Fisheries Quota Declaration 2019.
If, after applying the formula, the number of select coral ITQ units for fish of a species of prescribed select coral is not a whole number, the number of the units to be issued is taken to be the nearest whole number, rounded up.
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