sch.2C-sec.11Deciding number of units to be issued

sch.2C-sec.11 Deciding number of units to be issued

The number of C1-ITQ units to be issued to an eligible person is the number worked out using the following formula— where— C1-ITQ means the number of C1-ITQ units to be issued to the eligible person. EC means the eligible person’s eligible reported catch for the C1-ITQ units worked out under section 6 and, if applicable, as amended under section 8 or substituted under section 9 . N means— for BC1-ITQ units—6,750; or for EC1-ITQ units—29,600; or for GC1-ITQ units—2,440. TC means the total reported catch for the C1-ITQ units worked out under section 10 . If, after applying the formula, the number is not a whole number of C1-ITQ units, the number of C1-ITQ units to be issued is taken to be the nearest whole number, rounded up. (sch.2C-sec.11-ssec.1) The number of C1-ITQ units to be issued to an eligible person is the number worked out using the following formula— where— C1-ITQ means the number of C1-ITQ units to be issued to the eligible person. EC means the eligible person’s eligible reported catch for the C1-ITQ units worked out under section 6 and, if applicable, as amended under section 8 or substituted under section 9 . N means— for BC1-ITQ units—6,750; or for EC1-ITQ units—29,600; or for GC1-ITQ units—2,440. TC means the total reported catch for the C1-ITQ units worked out under section 10 . (sch.2C-sec.11-ssec.2) If, after applying the formula, the number is not a whole number of C1-ITQ units, the number of C1-ITQ units to be issued is taken to be the nearest whole number, rounded up.

• (a) for BC1-ITQ units—6,750; or
• (b) for EC1-ITQ units—29,600; or
• (c) for GC1-ITQ units—2,440.