55AMinister may put forward redefinition proposal

55A Minister may put forward redefinition proposal

55A Minister may put forward redefinition proposal

(1) The Minister may put a redefinition proposal to shareholders in one or more share management fisheries.

(2) In this Division, a redefinition proposal is a proposal to do any or all of the following—

(a) to change the description of one or more share management fisheries in Schedule 1,

(b) to amalgamate 2 or more classes of shares in one or more share management fisheries,

(c) to replace one or more classes of shares in one or more share management fisheries with one or more new or existing classes of shares.

(3) A redefinition proposal may involve the cancellation of shares, the issue of new shares or the reissue of shares.

pt 3, div 4A (ss 55A–55G): Ins 2015 No 59, Sch 1 [25].