178Application of Division

178 Application of Division

178 Application of Division

(1) For the purposes of section 34T of the Act, the owner of a fishing business may transfer shares that are a component of the fishing business only in accordance with this Division.

(2) If the transfer of shares also involves a transfer of an endorsement in a restricted fishery, Division 1 must also be complied with.

(3) Unless otherwise provided, this Division extends to the transfer of quota shares.

(4) In this Division—

quota share means a quota share created and issued to a shareholder in a fishery under the management plan for the fishery (pursuant to section 71A of the Act).

relevant share management fishery means the following—

(a) the estuary general fishery,

(b) the estuary prawn trawl fishery,

(c) the ocean hauling fishery,

(d) the ocean trap and line fishery,

(e) the ocean trawl fishery.