sec.106MWhen C1-ITQ unit entitlement is used for a C1-ITQ year

sec.106M When C1-ITQ unit entitlement is used for a C1-ITQ year

The entitlement under a C1-ITQ unit is used for a C1-ITQ year— when the holder of, or a person acting under, the C1-ITQ unit has taken in the C1-ITQ year, under any C1 licence held by the holder, an amount of (whole weight) prescribed crab in the prescribed crab management region equalling the holder’s entitlement under the C1-ITQ unit; or if section 106N applies. The unused entitlement under a C1-ITQ unit for a C1-ITQ year is the amount of (whole weight) prescribed crab that has not been taken in the prescribed crab management region, for the C1-ITQ year, under any C1 licence held by the holder of the C1-ITQ unit. s 106M ins 2020 SL No. 236 s 149 (sec.106M-ssec.1) The entitlement under a C1-ITQ unit is used for a C1-ITQ year— when the holder of, or a person acting under, the C1-ITQ unit has taken in the C1-ITQ year, under any C1 licence held by the holder, an amount of (whole weight) prescribed crab in the prescribed crab management region equalling the holder’s entitlement under the C1-ITQ unit; or if section 106N applies. (sec.106M-ssec.2) The unused entitlement under a C1-ITQ unit for a C1-ITQ year is the amount of (whole weight) prescribed crab that has not been taken in the prescribed crab management region, for the C1-ITQ year, under any C1 licence held by the holder of the C1-ITQ unit.

• (a) when the holder of, or a person acting under, the C1-ITQ unit has taken in the C1-ITQ year, under any C1 licence held by the holder, an amount of (whole weight) prescribed crab in the prescribed crab management region equalling the holder’s entitlement under the C1-ITQ unit; or
• (b) if section 106N applies.