46Invitation for shares

#### 46 Invitation for shares 46 Invitation for shares > > (1) Giving public notice As soon as practicable after a fishery becomes a share management fishery, the Minister must give public notice of that fact and invite applications for shares by eligible persons. > > > (2) How given For the purposes of this section, public notice is notice— > > > > > (a) published in the Gazette and in such other manner as the Minister is satisfied is likely to bring the notice to the attention of eligible persons and members of the public generally, and > > > > > (b) given to each holder of a commercial fishing licence or, in the case of a restricted fishery, to each person authorised to take fish in the fishery. > > > (3) Content The public notice must— > > > > > (a) describe the share management fishery, and > > > > > (b) state that after the issue of shares in the fishery access to the fishery will be restricted to shareholders, and > > > > > (c) set out the criteria for the allocation of shares in the fishery (giving full particulars of the method of determining the persons eligible to apply for those shares and their entitlement to shares under this Division), and > > > > > (d) provide information on the rights and obligations relating to dealings in the shares before the commencement of the management plan for the fishery, and > > > > > (e) invite applications for shares by eligible persons (and specify the manner and time within which applications are to be made and any application fee), and > > > > > (f) contain such other information as is prescribed by the regulations or as the Minister considers appropriate. > > > (4) Amendment A public notice may be varied by a further public notice under this section. > > **s 46:** Am 2018 No 25, Sch 2.9 \[1\].