48Provisional issue of shares to applicants

#### 48 Provisional issue of shares to applicants 48 Provisional issue of shares to applicants > > (1) The Minister is to consider each application for shares that has been duly made and issue shares to eligible applicants in accordance with their entitlement to shares under this Division. If the applicant is not eligible to apply for shares, the Minister is to refuse the application. > > > (2) The shares are to be issued on a provisional basis pending the commencement of the management plan for the fishery. > > > (3) The Minister must, as soon as practicable— > > > > > (a) notify each applicant of the result of the application, and > > > > > (b) give to each applicant a statement in writing of the names of the applicants who were provisionally issued with shares and of the number of shares issued to each such applicant, together with a statement of any rights of appeal by the applicant to the Share Appeal Panel. > > > (4) Any shares issued as a result of a decision of the Share Appeal Panel are also to be issued on a provisional basis under this section. > > > (5) The Minister may set aside shares available for issue to an eligible person who does not apply for the issue of the shares. The Minister may issue any such shares as the Minister sees fit, including by their issue to other applicants or by their sale by auction, tender or ballot.