169Reduced catch entitlements—eligible specified access licence holders

169 Reduced catch entitlements—eligible specified access licence holders (1) If in a compensable year— (a) the total weight of fish (if any) and fishing bait (if any) taken by an eligible specified access licence holder under the licence is less than— (i) in the case of a compensable year other than the first compensable year, the averaged annual catch taken under the licence; or (ii) in the case of the first compensable year, the averaged proportionate catch taken under the licence— (in this subsection called the "difference in catch"); and (b) the whole or a part of the difference in catch can reasonably be attributed to the fishing prohibition applying to any one or more relevant parks— the licence holder is entitled to be paid an amount determined in accordance with the following formula— ![]() where— W is the whole or the part of the difference in catch that can reasonably be attributed to the fishing prohibition so applying; and X is the estimated weighted averaged beach price obtained by the licence holder for the classes of fish (if any) and fishing bait (if any) taken under the licence in the fishery in which the licence holder fished in the compensable year; and Y is the operating costs (not including depreciation) incurred by the licence holder in taking or attempting to take fish (if any) and fishing bait (if any) under the licence in the financial year, ending on the 30 June immediately after the compensable year, other than that part (if any) of the operating costs (not including depreciation) that can reasonably be attributed to the fishing prohibition so applying; and Z is the gross revenue received by the licence holder in respect of the fish (if any) and fishing bait (if any) taken under the licence in that financial year. ***averaged annual catch*** means— (a) in the case of a licence under which any fish or fishing bait was taken in each of the 3 licence years commencing on 1 April 1999 and ending on 31 March 2002 in any one or more relevant parks, the average annual weight of fish (if any) taken and of fishing bait (if any) taken under the licence in the 2 of the 3 years in which the annual weights taken were the highest and the second highest; and (b) in the case of a licence under which any fish or fishing bait was taken in 2 of the 3 licence years commencing on 1 April 1999 and ending on 31 March 2002 in any one or more relevant parks, the average annual weight of fish (if any) and fishing bait (if any) taken under the licence in those 2 years; and (c) in the case of a licence under which any fish or fishing bait was taken in 1 of the 3 licence years commencing on 1 April 1999 and ending on 31 March 2002 in any one or more relevant parks, the weight of fish (if any) and fishing bait (if any) taken under the licence in that year; ***averaged proportionate catch*** means— (a) in the case of a licence under which any fish or fishing bait was taken in the period beginning on 16 November and ending on 31 March in each of the 3 licence years commencing on 1 April 1999 and ending on 31 March 2002 in any one or more relevant parks, the average weight of fish (if any) taken and of fishing bait (if any) taken under the licence in the 2 of the 3 periods in which the weights taken were the highest and the second highest; and (b) in the case of a licence under which any fish or fishing bait was taken in the period beginning on 16 November and ending on 31 March in 2 of the 3 licence years commencing on 1 April 1999 and ending on 31 March 2002 in any one or more relevant parks, the average weight of fish (if any) and fishing bait (if any) taken under the licence in those 2 periods; and (c) in the case of a licence under which any fish or fishing bait was taken in the period beginning on 16 November and ending on 31 March in 1 of the 3 licence years commencing on 1 April 1999 and ending on 31 March 2002 in any one or more relevant parks, the weight of fish (if any) and fishing bait (if any) taken under the licence in that period; ***first compensable year*** means the period commencing on 16 November 2002 and ending on 31 March 2003. S. 170 inserted by No. 40/2002 s. 27.