5BAllocation of quota shares—first issue

5B Allocation of quota shares—first issue

5B Allocation of quota shares—first issue

(1) A person is eligible to be issued with ocean trap and line—spanner crab quota shares if the person is an eligible shareholder in relation to those shares.

(2) A person is an eligible shareholder in relation to ocean trap and line—spanner crab quota shares if, on the relevant date, the person holds ocean trap and line—spanner crab northern zone shares or ocean trap and line—spanner crab southern zone shares.

(3) The Minister is to determine the number of quota shares to be issued to each eligible shareholder under this clause.

(4) The determination is to be made on the basis of an allocation formula set out in a notice published by the Secretary in the Gazette.

(5) The allocation formula is also to be made available on the Department’s website.

(6) The relevant date is the date specified as the relevant date in the notice published by the Secretary under subclause (4).