Fisheries (Commercial Fisheries) Regulation 2019
sec.87When SM unit entitlement is used for an SM year
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sec.87 When SM unit entitlement is used for an SM year
The entitlement under an SM unit is used for an SM year— when the holder of, or a person acting under, the SM unit, has taken, in the SM year under any SM licence held by the holder, an amount of (whole weight) spanish mackerel for the SM unit equalling the entitlement under the SM unit; or if section 88 applies. The unused entitlement under an SM unit for an SM year is the amount of (whole weight) spanish mackerel for the SM unit that has not been taken, for the SM year, under any SM licence held by the holder of the SM unit. (sec.87-ssec.1) The entitlement under an SM unit is used for an SM year— when the holder of, or a person acting under, the SM unit, has taken, in the SM year under any SM licence held by the holder, an amount of (whole weight) spanish mackerel for the SM unit equalling the entitlement under the SM unit; or if section 88 applies. (sec.87-ssec.2) The unused entitlement under an SM unit for an SM year is the amount of (whole weight) spanish mackerel for the SM unit that has not been taken, for the SM year, under any SM licence held by the holder of the SM unit.
- (a) when the holder of, or a person acting under, the SM unit, has taken, in the SM year under any SM licence held by the holder, an amount of (whole weight) spanish mackerel for the SM unit equalling the entitlement under the SM unit; or
- (b) if section 88 applies.