6DAppeals to Share Appeal Panel

6D Appeals to Share Appeal Panel

6D Appeals to Share Appeal Panel

(1) A person who has been issued with quota shares of a particular class may appeal to the Share Appeal Panel against the Minister’s determination of the number of quota shares of that class issued to the person.

(1A) However, a person may not appeal to the Share Appeal Panel against the Minister’s determination of the number of quota shares of a particular class issued to the person if the person has transferred any of those quota shares.

Note—

A person to whom quota shares are transferred may not appeal under this clause.

(2) When a person lodges an appeal, the quota shares issued to the person are shares that are subject to appeal.

(3) The transfer of, or any other registrable dealing in, quota shares that are subject to appeal is not permitted.

(4) On completion of an appeal, the Minister may cancel or issue shares in order to give effect to a decision of the Share Appeal Panel.

(5) No compensation is payable by or on behalf of the State for the cancellation by the Minister of shares that are subject to appeal in order to give effect to a decision of the Share Appeal Panel.

(6) For the purposes of section 90 (1) (e) of the Act, shares that are subject to appeal are to be registered as such on the Share Register.

(7) Shares cease to be subject to appeal if—

(a) the appeal to the Share Appeal Panel is withdrawn, or

(b) the appeal to the Share Appeal Panel is finalised and the Minister has done anything necessary to give effect to the decision of the Share Appeal Panel.

Note—

The Supporting Plan contains provisions relating to lodging an appeal to the Share Appeal Panel in relation to the issue of quota shares.