31AOptions arising when plan of management for fishery is revoked

#### 31A Options arising when plan of management for fishery is revoked (1) Subject to subsection (2), if a plan of management for a fishery (the former plan) is revoked, each person (a former holder of fishing rights) who held statutory fishing rights of a particular class of fishing rights (the relevant class) in respect of the fishery under the former plan immediately before it was revoked holds a statutory fishing rights option in respect of fishing rights of the relevant class. (2) Subsection (1) does not apply if: (a) a new plan of management is determined for the fishery immediately after the revocation of the former plan; and (b) the new plan is in all substantial respects identical to the former plan; and (c) the persons who held statutory fishing rights under the former plan are granted equivalent statutory fishing rights under the new plan. (3) Subsection 21(1B) applies in determining the kinds of statutory fishing rights that together constitute a class of fishing rights in respect of a fishery for the purposes of this Division, except that fishing rights that, in AFMA’s opinion, are substantially the same are taken to be identical for the purposes of that subsection. (4) A statutory fishing rights option entitles the holder of the option to be granted statutory fishing rights of the relevant class under any plan of management (the new plan) determined for a fishery after the revocation of the former plan if section 31B or 31C applies to the new plan. The nature and extent of the entitlements are set out in subsection 31B(2) or 31C(2), as the case may be.