sec.106Carrying forward of unused entitlement

sec.106 Carrying forward of unused entitlement

This section applies if, in a T4-ITQ year, the holder of, or a person acting under, T4-ITQ units takes an amount of prescribed whiting under the T4-ITQ unit that is less than the total entitlements under the holder’s T4-ITQ units. The holder of the T4-ITQ units is taken at the end of the T4-ITQ year to have used all the entitlements under the T4-ITQ units held by the holder for the T4-ITQ year, other than an unused entitlement to which subsection (3) applies. If the holder’s unused entitlement under the T4-ITQ units for the T4-ITQ year is 20t or less, the unused entitlement is carried forward to the following T4-ITQ year (the relevant T4-ITQ year ). The holder of, or a person acting under, the holder’s T4-ITQ units may take in the relevant T4-ITQ year up to the amount of (whole weight) whiting carried forward under subsection (3) . The authorisation under subsection (4) — applies in addition to the holder’s entitlement under the holder’s T4-ITQ units for the relevant T4-ITQ year under section 104 ; and does not form part of the holder’s entitlement under the holder’s T4-ITQ units for the relevant T4-ITQ year under section 104 . s 106 amd 2020 SL No. 236 s 147 (sec.106-ssec.1) This section applies if, in a T4-ITQ year, the holder of, or a person acting under, T4-ITQ units takes an amount of prescribed whiting under the T4-ITQ unit that is less than the total entitlements under the holder’s T4-ITQ units. (sec.106-ssec.2) The holder of the T4-ITQ units is taken at the end of the T4-ITQ year to have used all the entitlements under the T4-ITQ units held by the holder for the T4-ITQ year, other than an unused entitlement to which subsection (3) applies. (sec.106-ssec.3) If the holder’s unused entitlement under the T4-ITQ units for the T4-ITQ year is 20t or less, the unused entitlement is carried forward to the following T4-ITQ year (the relevant T4-ITQ year ). (sec.106-ssec.4) The holder of, or a person acting under, the holder’s T4-ITQ units may take in the relevant T4-ITQ year up to the amount of (whole weight) whiting carried forward under subsection (3) . (sec.106-ssec.5) The authorisation under subsection (4) — applies in addition to the holder’s entitlement under the holder’s T4-ITQ units for the relevant T4-ITQ year under section 104 ; and does not form part of the holder’s entitlement under the holder’s T4-ITQ units for the relevant T4-ITQ year under section 104 .

• (a) applies in addition to the holder’s entitlement under the holder’s T4-ITQ units for the relevant T4-ITQ year under section 104 ; and
• (b) does not form part of the holder’s entitlement under the holder’s T4-ITQ units for the relevant T4-ITQ year under section 104 .