184Approval of transfers by Secretary

#### 184 Approval of transfers by Secretary 184 Approval of transfers by Secretary > > (1) This clause applies in respect of transfers of endorsements and shares in all restricted fisheries and share management fisheries. > > > (2) In addition to the other requirements relating to the transfer of components of fishing businesses under this Part, an endorsement or share that is a component of a fishing business referred to in this Part may be transferred only with the approval of the Secretary. > > > (3) The Secretary may refuse to approve a transfer of an endorsement or share that is a component of a fishing business if— > > > > > (a) the transaction would contravene the Act or the regulations, or > > > > > (b) the person to whom the endorsement or share is to be transferred is a person who— > > > > > > > (i) is prohibited from holding the endorsement or share, or > > > > > > > (ii) is a natural person who may not be nominated to take fish on behalf of the fishing business, or > > > > > > > (iii) could be refused an endorsement, or > > > > > (c) the Secretary is satisfied that the purpose of the transaction is to avoid share forfeiture, or > > > > > (d) any fee, contribution or other amount owing under the Act or the regulations in respect of the endorsement, share or fishing business, or in respect of the fishing business to which the endorsement or share is to be transferred, has not been paid, or > > > > > (e) any mortgage that applies to the share has not been discharged or cancelled, or > > > > > (f) there is a nominated fisher in respect of the fishing business and the nomination has not been revoked by the owner of the fishing business transferring the endorsement or share. > > > (4) An application for the Secretary’s approval under this clause— > > > > > (a) is to be made jointly by the owner of the fishing business transferring the endorsement or share (as the case may be) and the person to whom the endorsement or share is to be transferred, and > > > > > (b) is to be in a form approved by the Secretary. > > > (5) If the transfer relates to shares, the approved form of application under this clause may include or be comprised of the approved form of application for registration of the transaction under section 91B of the Act, so as to enable the applications for approval and registration to be dealt with together. > > > > Note. > > > > A transaction that has the effect of transferring, assigning or transmitting a share is to be registered in the Share Register, and a fee in respect of the application for registration is payable under Part 7. > > > (6) If the transfer relates to an endorsement, and no fee is charged in respect of the registration of the transaction, the Secretary may charge a fee in respect of the application for approval, being the amount specified in Schedule 6. > > > (7) An owner of a fishing business who proposes to transfer an endorsement or share may request that the Minister review a determination of the Secretary under this clause in relation to the transfer within 30 days after notice of the determination is given to the owner of the fishing business. > > > (8) The Secretary is to give effect to any determination made by the Minister in respect of that review.