37Transfer of tariff rate quota entitlement

37 Transfer of tariff rate quota entitlement

(1) A person (the transferor) who has an amount of tariff rate quota entitlement for a quota type and a quota year may, at any time on or before the reclamation day for the quota type and quota year, transfer all or part of that amount to an eligible person for the quota type (the transferee) by notifying the Secretary, in writing, of the following: (a) the name of the transferor; (b) the name of the transferee; (c) the amount of the entitlement to be transferred.

Note: Transferring more than a certain amount of entitlement for a quota year will make the person ineligible to apply for an allocation of entitlement for the following 3 quota years: see subsection 29(2).

(2) However, a new entrant for the quota type and quota year is not permitted to be a transferor. (3) If the Secretary receives a notice under subsection (1), the amount is transferred in accordance with the notice.