7AMinimum shareholding—hand gathering shares

#### 7A Minimum shareholding—hand gathering shares 7A Minimum shareholding—hand gathering shares > > (1) For the purpose of section 67 (1) of the Act, the minimum shareholding in relation to estuary general—hand gathering shares is, subject to subclause (2)— > > > > > (a) for estuary general—hand gathering shares (Region 1, 2, 3, 4, 6 or 7)—125 shares, or > > > > > (b) for estuary general—hand gathering shares (Region 5)—100 shares. > > > (2) The minimum shareholding in relation to estuary general—hand gathering shares is 1 share, if the shareholder is an original entitlement holder. > > > (3) Subclause (2) ceases to apply if the shareholder transfers, assigns, forfeits or surrenders any of the shares or if any of the shares are cancelled after 5 February 2007 (in which case subclause (1) applies to the shareholder). > > > (4) For the purposes of this clause, an original entitlement holder is a person who— > > > > > (a) held estuary general—hand gathering shares immediately before 5 February 2007, and > > > > > (b) was, immediately before 5 February 2007, eligible for an endorsement in the fishery (or to nominate a person to be given an endorsement in the fishery) on the basis of that shareholding. > > > (5) A person who was issued with estuary general—hand gathering shares as a consequence of a decision of the Share Appeal Panel on an appeal in relation to the issue of shares in the fishery and who would have been entitled to an endorsement in the fishery, or to nominate a person to be given an endorsement, if those shares had been issued before 5 February 2007, is taken to be an original entitlement holder for the purposes of this clause. > > > (6) The shares relied on to meet the minimum shareholding requirement must all be a component of the same estuary general fishing business.