Fisheries Management Act 1994
73Duration of shareholding
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73 Duration of shareholding
73 Duration of shareholding
(1) Shares in a share management fishery are to be issued initially for a period of 10 years (calculated from the commencement of the management plan for the fishery).
(2) If during that 10-year period (or any subsequent period for which the shares are renewed) a fishery review is conducted and a new management plan is made under this Part, the shares are taken to be renewed (from the date the new plan commences) for a further period of 10 years and the balance of the current period is terminated.
(3) If a new management plan is not made by the end of that 10-year period (or any subsequent period for which the shares are renewed), the shares are taken to be renewed, at the end of their current period, for a further period of 10 years.
s 73: Am 2000 No 86, Sch 3 [9]; 2009 No 114, Sch 1 [51]; 2015 No 59, Sch 1 [46].