46Aquaculture leases offered for public tender

46 Aquaculture leases offered for public tender

46 Aquaculture leases offered for public tender

(1) This section applies if an aquaculture lease is offered for public tender.

(2) A person (a tenderer) may lodge a tender for the lease in accordance with this division.

(3) The tender must—

(a) be lodged with the Minister by the closing date specified in the request for public tenders for the lease, and

(b) include a statement of the amount of the premium offered for the lease under the tender, and

(c) be accompanied by an application for the lease in accordance with this part.

(4) The Minister must accept the tender of the tenderer offering the highest premium (the successful tenderer), subject to the Minister approving the successful tenderer for the purposes of proceeding with an application for the lease under this subsection.

(5) If the Minister approves the successful tenderer under subsection (4), the successful tenderer must pay the following to the Minister within 14 days, or a longer period allowed by the Minister—

(a) the premium offered under the successful tenderer’s tender, and

(b) the processing fee specified in Schedule 3, Part 2, item 10.

(6) If the Minister does not approve the successful tenderer under subsection (4), the successful tenderer does not pay an amount under subsection (5) or the successful tenderer withdraws the tender—

(a) the Minister may accept the tender of the tenderer offering the next highest premium (the second tenderer) under subsection (4) as if the second tenderer were the successful tenderer, and

(b) if the Minister accepts the tender of the second tenderer under paragraph (a), the process under subsection (5) and this subsection continues and applies as if the second tenderer were the successful tenderer until the Minister—

(i) approves a tenderer under subsection (4) and the tenderer pays the amounts under subsection (5), or

(ii) withdraws the offer of the lease for tender.

(7) The Minister may, at any time, withdraw the offer of the lease from tender.