21Over‑expenditure of effort units

21 Over‑expenditure of effort units

(1) Subsection (2) applies to the holder of a longline SFR if:

(a) in a fishing season (the first season), the holder expends (or is taken, by a previous application of this section, to have expended) a number of effort units that exceeds, by a percentage less than the determined percentage, the holder’s effort unit entitlement for the season; and

(b) at the end of the last day of the second month of the following fishing season (the second season), the holder is entitled to a number of effort units that would, in the absence of this section, exceed the number of effort units by which the holder exceeded the holder’s entitlement mentioned in paragraph (a).

(2) The holder is taken to have expended:

(a) during the first season, the number of effort units to which the holder was entitled in the first season; and

(b) during the second season, a number of effort units that is equal to the number of effort units by which the holder exceeded the holder’s entitlement for the first season, in addition to the number of effort units actually expended by the holder in the second season.

(3) Subsection (4) applies to the holder of a longline SFR if:

(a) in a fishing season (the first season), the holder expends (or is taken, by a previous application of this section, to have expended) a number of effort units that exceeds the holder’s effort unit entitlement for the season by:

(i) at least the determined percentage; and

(ii) an amount equal to or less than the sum of:

(A) the result of multiplying the holder’s effort unit entitlement in the first season by the determined percentage; and

(B) the determined number; and

(b) at the end of the last day of the second month of the following fishing season (the second season), the holder is entitled to a number of effort units that would, in the absence of this section, be at least equal to the sum of:

(i) the result of multiplying the holder’s effort unit entitlement in the first season by the determined percentage; and

(ii) twice the amount by which the holder’s over‑expenditure in the first season exceeded the determined percentage.

(4) The holder is taken to have expended:

(a) during the first season, the holder’s effort unit entitlement for the first season; and

(b) during the second season, the number of effort units equal to the sum of:

(i) the result of multiplying the holder’s entitlement in the first season by the determined percentage; and

(ii) twice the number by which the holder’s over‑expenditure in the first season exceeded the determined percentage;