Fisheries Management Act 1994
71Transfer and other dealings in shares
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71 Transfer and other dealings in shares
71 Transfer and other dealings in shares
(1) A share in a share management fishery may be transferred, assigned, transmitted or mortgaged and any other interest of a kind prescribed by the regulations may be created in the share.
(2) Without limiting subsection (1), shares may be transferred for the purpose of enabling 2 or more shareholders to hold their shares jointly.
(3) A transaction that transfers, assigns, transmits, mortgages or otherwise creates an interest in a share in a share management fishery is required to be registered in the Share Register under Division 10.
(4) This section is subject to any restriction imposed by the management plan for the fishery.
(5) Before the commencement of the management plan for the fishery, this section applies only to the extent authorised by the regulations.