Fisheries Adjustment Schemes Act 1987

The Minister is to administer a scheme in accordance with the terms of the notice for that scheme.

The Minister is to be assisted in the administration of the scheme by a committee of management constituted under section 11 for that scheme.

When a scheme is established the Minister is to cause an invitation in the terms set out in subsection (4) to be published in a newspaper circulating generally in the State.

An invitation shall invite eligible persons —

to offer the surrender of their authorisation or part of their entitlement (as the case may be) under the scheme; and

for that purpose, to submit to the committee for the scheme, within a specified period, an offer in the form approved by the committee stating the amount of compensation for which the person will surrender their authorisation or part of their entitlement.

The Minister is to respond in writing to every offer made under this section by an eligible person and is to either accept or decline the offer or make a counter offer.

An eligible person may, by notice in writing given to the Minister, surrender an authorisation in accordance with an agreement to do so under a scheme and the authorisation ceases to have effect when the notice is given.

An eligible person may, by notice in writing given to the Minister, surrender part of their entitlement in accordance with an agreement to do so under a scheme and the CEO may reduce the entitlement accordingly.

If in accordance with an agreement under a scheme an authorisation is surrendered or part of an entitlement is reduced, the Minister is to pay the agreed amount of compensation to the eligible person.

Compensation is to be paid from the Account.