40UMethod for transferring quota

#### 40U Method for transferring quota 40U Method for transferring quota > > (1) A transfer of quota authorised by or under this Division must be effected— > > > > > (a) by electronic transfer (that is, by using the online transfer system), or > > > > > (b) by manual transfer (that is, by giving the Secretary notice in writing of the transfer). > > > (2) The regulations may prescribe fees for the use of the online transfer system. > > > (3) For a manual transfer, the notice given to the Secretary must be in a form approved by the Secretary and must be accompanied by the prescribed fee (if any) for manual transfers of quota. > > > (4) A transfer of quota does not take effect until the transfer is confirmed. > > > (5) An electronic transfer is confirmed if the online transfer system generates a message to the effect that the transfer is confirmed. > > > (6) A manual transfer is confirmed if the Secretary gives notice in writing to the person lodging the transfer that the transfer has been approved. > > > (7) In this section— > > > > online transfer system means a facility approved by the Secretary that enables the transfer of quota by electronic communication. > > **s 40U:** Ins 2015 No 59, Sch 1 \[21\]. Am 2018 No 25, Sch 1.11 \[1\]