Fisheries Adjustment Schemes Act 1987

An affected person is entitled to fair compensation for any loss suffered by the person as a result of the cancellation of an authorisation, or the reduction of an entitlement, under a scheme.

The value of an authorisation that is to be cancelled, or part of an entitlement that is to be reduced, under a scheme, is to be assessed as the market value of the authorisation or entitlement.

The market value referred to in subsection (2) is to be assessed as the market value immediately before the day on which a notice was published under section 14D(1)(a).