54Limiting access to shareholders etc before commencement of management plan

#### 54 Limiting access to shareholders etc before commencement of management plan 54 Limiting access to shareholders etc before commencement of management plan > > (1) After the day appointed for the commencement of limited access to a share management fishery and until the commencement of the management plan for the fishery, the fishery is a limited access fishery. > > > (2) A commercial fishing licence does not authorise a person to take fish in a limited access fishery unless— > > > > > (a) the licensee is the holder of shares in the fishery (irrespective of the number of shares held) or is an applicant for shares who has duly lodged an appeal to the Share Management Fisheries Appeal Panel and whose appeal is pending, or > > > > > (b) the licensee is duly nominated in the Share Register by that holder or applicant to take fish on behalf of that holder or applicant, > > > > and the licence is duly endorsed under this Part for the taking of fish in the fishery. > > > (3) A holder of shares is not entitled to have his or her licence endorsed to take fish in a limited access fishery (or to nominate another person to do so) if all the shares held by the person were acquired by dealings after the initial issue of shares in the fishery, unless the acquisition is declared by the regulations to be an authorised acquisition for the purposes of this section. > > Note. > > An example of an acquisition that may be authorised by the regulations is an acquisition in a fishery that was previously a restricted fishery to which access could previously have been obtained by other fishers.