54Community contribution

54 Community contribution

54 Community contribution

(1) For the purposes of section 77 of the Act, the community contribution is payable by each shareholder for each fishing period.

(2) The community contribution is payable 2 months after the end of the fishing period, or on such later date as may be determined by the Minister.

(3) (Repealed)

(4) The community contribution for each subsequent fishing period is $115.

(5) Interest is payable on late payments of the community contribution at the rate payable from time to time in respect of judgments of the Supreme Court.

(6) The community contribution may, with the approval of the Minister, be paid by instalments on such terms as the Minister approves.

(7) If an instalment is not paid by the due date, the balance then becomes due and payable (together with the interest payable for late payment).