Process for deciding number of ENL-ITQ units to be issued
5 Process for deciding number of ENL-ITQ units to be issued
The chief executive must decide the number of ENL-ITQ units to be issued to an eligible person as follows—
the chief executive must decide, under section 6, the eligible person’s eligible reported catch for the units;
the chief executive must give the eligible person an opportunity to apply for an amendment or substitution of the chief executive’s decision under section 6, as provided under sections 7 to 9;
the chief executive must decide the total reported catch for the units under section 10;
the chief executive must apply the formula and process in section 11 to decide the number of ENL-ITQ units to be issued to the eligible person.
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