CTHRepealedLegislation
Fisheries Management Regulations 1992
5Auction for the grant of a fishing right
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#### 5 Auction for the grant of a fishing right
(1) For subsection 28(1) of the Act, if a grant of a fishing right is to be made by auction, AFMA may set a reserve price for the grant before the day on which the auction is to be held.
(2) If the person who made the highest bid at the auction is unable to pay the charge applicable in relation to the grant, AFMA must offer the grant to the person who made the second‑highest bid.
(3) If the person who made the second‑highest bid at the auction is unable to pay the charge applicable in relation to the grant, AFMA must offer the grant at a new auction.