15Fee under 1994 abalone deed of agreement

15 Fee under 1994 abalone deed of agreement

(1)  In this regulation –

1994 abalone deed of agreement means the deed of agreement, made on 30 June 1994 pursuant to section 7 of the former Fisheries Act 1959 in respect of the right to take and acquire abalone for commercial purposes in State fishing waters, as –

(a) continued in force under section 14 of the Marine Resources (Savings and Transitional) Act 1995 ; and

(b) renewed under clause 4 of the deed of agreement for a term of 10 years commencing on 1 January 2004 (the renewed term);

fee means the fee referred to in clause 5.2 of the 1994 abalone deed of agreement;

next 2 terms, of the 1994 abalone deed of agreement, means the 2 terms immediately following the renewed term.

(2)  Pursuant to clause 4.5 of the 1994 abalone deed of agreement, the fee to be paid during the next 2 terms of that deed of agreement is a fee determined in accordance with Schedule 3 .