Part 2Election to surrender licence

Part 2—Election to surrender licence 5 Definitions ***continuing licence holder*** means a licence holder who is entitled under section 153F(3) to retain a Western Port/Port Phillip Bay Fishery Access Licence on and after 1 April 2022; ***election period*** means— (a) the initial election period; or (b) the 12 month period commencing on— (i) 1 April 2016; or (ii) 1 April 2017; or (iii) 1 April 2018; or (iv) 1 April 2019; or (v) 1 April 2020; ***eligible licence holder*** means— (a) in the case of the initial election period—all licence holders; (b) in the case of any other election period—all remaining licence holders; ***initial election period*** means the period commencing on the day section 5 of the **Fisheries Amendment Bill 2015** comes into operation and ending immediately before 1 April 2016; ***licence holder*** has the same meaning as in section 153D; ***remaining licence holder*** means a licence holder who is not a continuing licence holder. 6 Notice that licence holder may elect to surrender licence (1) On or after the commencement of each election period, the Minister must give notice in accordance with this clause that each eligible licence holder may elect to surrender their licence. (b) sent by letter to each eligible licence holder. (a) that each eligible licence holder may elect to surrender their licence; Sch. 4 cl. 6(3)(c) amended by No. 68/2016 s. 158(a). (c) that the election must be made in writing addressed to the Victorian Fisheries Authority and signed by the licence holder; (d) the address to which the election must be sent; (e) the information that must be included in the election, which must include the name of the licence holder and the licence number; (f) in the case of the notice given in the initial election period— (i) that the holder of a Western Port/Port Phillip Bay Fishery Access Licence may elect to surrender their licence even if they also elect to retain their licence; and (ii) the election to surrender is conditional on the election to retain the licence being unsuccessful; (g) if the licence holder elects to surrender their licence and that election is successful, the licence will be cancelled before the end of the election period in which the election is made. (4) In addition, the notice sent to each eligible licence holder must state the amount of compensation payable to the licence holder if the licence is cancelled in the current election period. 7 Election to surrender licence An election by an eligible licence holder to surrender their licence must— Sch. 4 cl. 7(a) amended by No. 68/2016 s. 158(b). (a) be made in writing to the Victorian Fisheries Authority and received by the Victorian Fisheries Authority within the period stated in the notice under clause 6; and (c) include the information required by the notice under clause 6. 8 Determination of successful elections Sch. 4 cl. 8(1) amended by No. 68/2016 s. 158(c). (1) After the closing date specified in the notice under clause 6 for making an election and subject to subclause (2), the Victorian Fisheries Authority must determine that each of the elections to surrender a licence made in accordance with clause 7 is successful. Sch. 4 cl. 8(2) amended by No. 68/2016 s. 158(d)(i). (2) The Victorian Fisheries Authority must not determine that an election by a licence holder to surrender their licence is successful if— (a) the election to surrender was not made in accordance with clause 7; or Sch. 4 cl. 8(2)(b) amended by No. 68/2016 s. 158(d)(ii). (b) the Victorian Fisheries Authority has determined that an election by the licence holder to retain their licence on and after 1 April 2022 is successful; or (c) an election by the licence holder to retain their licence on and after 1 April 2022 remains undetermined. Sch. 4 cl. 9 amended by No. 68/2016 s. 158(e). 9 Notification of successful election After determining which of the elections made by licence holders to surrender their licence are successful, the Victorian Fisheries Authority must notify in writing— (a) each of the licence holders who made a successful election stating— (i) that the election made by the licence holder to surrender their licence is successful; and (ii) the effective date of the cancellation of the licence; and (iii) the amount of compensation to which the licence holder is entitled; and (b) each of the licence holders who made an unsuccessful election stating that the election made by the licence holder to surrender their licence is unsuccessful. Part 3—Calculation of compensation 10 Calculation of compensation (1) The amount of compensation payable to a licence holder whose licence is cancelled under section 153H is determined in accordance with Table 1 where— **T** is the annual average catch value of the catch taken under the licence held by the licence holder over the survey period (whether or not the licence holder held the licence for the whole of that period). **Table 1** | *Column 1*<br>*Period in which licence cancelled* | *Column 2*<br>*Formula for determining compensation* | | Initial election period | An amount (A) = $385 000 + (3×T) | | Election period commencing 1 April 2016 | An amount (B) = A × 9/10 | | Election period commencing 1 April 2017 | An amount (C) = B × 9/10 | | Election period commencing 1 April 2018 | An amount (D) = C × 9/10 | | Election period commencing 1 April 2019 | An amount (E) = D × 9/10 | | Election period commencing 1 April 2020 | An amount (F) = E × 9/10 | | After 1 April 2021 | An amount (G) = F × 9/10 | (2) For the purposes of subclause (1), the annual average catch value taken under a licence over the survey period (**T**) is determined as follows— (a) for each species specified in column 1 of Table 2— Sch. 4 cl. 10(2)(a)(i) amended by No. 68/2016 s. 158(f). (i) the total catch, in kilograms, of that species is determined based on the catch history of the licence over the survey period indicated in the records held by the Secretary or the Victorian Fisheries Authority; and (ii) the total catch is multiplied by the value per kilogram specified opposite in column 2 of Table 2 to determine the total catch value of the species over the survey period; and (iii) the total catch value of the species over the survey period is divided by 5 to determine the annual average catch value of the species; and (b) the annual average catch values of each of the species, as determined under paragraph (a) are added together. **Table 2** | *Column 1*<br>*Species* | *Column 2*<br>*Value (per kg)* | | All Other | $4.14 | | Anchovy, Southern | $2.47 | | Australian salmon | $0.69 | | Bream, Black | $11.00 | | Calamary, Southern | $12.89 | | Flathead, Rock | $6.65 | | Flathead, Sand | $4.33 | | Flathead, Yank | $4.00 | | Flounder, Unspecified | $9.00 | | Garfish, Southern sea | $7.36 | | Leatherjacket | $3.40 | | Morwong, Dusky | $4.00 | | Morwong, Jackass | $4.00 | | Mullet, Yellow-Eye | $1.96 | | Pike, Unspecified | $4.51 | | Ruff | $4.00 | | Sardine, Australian | $3.00 | | Shark, Gummy | $11.00 | | Skate | $4.00 | | Snapper | $9.40 | | Sprat, Sandy | $2.00 | | Trevally | $3.64 | | Whiting, King George | $22.00 | | Yellowtail | $2.00 | (3) In this clause— Sch. 4 cl. 10(3) def. of *records held by the Secretary* substituted as *records held by the Secretary or the Victorian Fisheries Authority* by No. 68/2016 s. 158(g). ***records held by the Secretary or the Victorian Fisheries Authority*** means the records of catch history as recorded in the Integrated Catch and Effort System maintained by the Department of Economic Development, Jobs, Transport and Resources on behalf of the Secretary and the Victorian Fisheries Authority; ***survey period*** means the 5 year period from 1 April 2009 to 31 March 2014. Sch. 5 inserted by No. 35/2019 s. 7.