6Minimum shareholdings

6 Minimum shareholdings

6 Minimum shareholdings

(1) For the purpose of section 67 (1) of the Act, the minimum shareholding in relation to a class of shares specified in the Table to this clause is, subject to subclause (2), the number of shares of that class specified in the Table next to the class concerned.

Note—

A person who does not hold the minimum shareholding required for a class of shares will not be eligible to be given, or to nominate another person to be given, an endorsement that authorises the taking of fish in respect of shares of that class. See sections 68 (3) (b) and 69 (2) of the Act.

(2) Despite subclause (1), the minimum shareholding in relation to ocean trap and line—spanner crab northern zone shares if the shareholder held the shares immediately before 18 December 2015 is 5 shares of that class.

(3)–(7) (Repealed)

(8) The shares relied on to meet the minimum shareholding requirement must all be a component of the same ocean trap and line fishing business.

Table

| Class of shares | Minimum shareholding | | Ocean trap and line—line fishing western zone shares | 60 | | Ocean trap and line—line fishing eastern zone shares | 40 | | Ocean trap and line—demersal fish trap shares | 50 | | Ocean trap and line—school and gummy shark shares | 40 | | Ocean trap and line—spanner crab northern zone shares | 40 | | Ocean trap and line—spanner crab southern zone shares | 40 |