174Transfer of sea urchin and turban shell endorsements

#### 174 Transfer of sea urchin and turban shell endorsements 174 Transfer of sea urchin and turban shell endorsements > > (1) For the purposes of section 114 of the Act, the transfer of a sea urchin endorsement or turban shell endorsement, in accordance with this clause, is authorised. > > > (2) A sea urchin endorsement or turban shell endorsement that is a component of a fishing business may be transferred by the owner of the fishing business to another person only if— > > > > > (a) all components of the fishing business are transferred to that person, or > > > > > (b) the transfer is part of an arrangement for the endorsement concerned to be surrendered to the Minister for cancellation. > > > (3) A sea urchin endorsement that is a component of a sea urchin fishing business may be transferred by the fishing business owner to another person only if all unused red sea urchin quota attached to the fishing business is transferred to the owner of another sea urchin fishing business. > > > > Note. > > > > If the transferor owns another sea urchin fishing business, the quota may be transferred to that other fishing business. > > > (4) Subclause (3) does not authorise a transfer of quota otherwise than in accordance with Division 1 of Part 9. > > > (5) In this clause— > > > > > (a) red sea urchin quota is attached to a fishing business if it has been allocated to or acquired by the owner of that fishing business as the owner of that fishing business, and > > > > > (b) sea urchin fishing business means a fishing business a component of which is a sea urchin endorsement. > > Note. > > Clause 129 provides that if the transfer of an endorsement is in accordance with this Part, the person who transfers the endorsement ceases to be eligible for that endorsement, and the person to whom the transfer is made becomes eligible for an endorsement of the same kind.