11Community contribution

11 Community contribution

11 Community contribution

(1) For the purposes of section 77 of the Act, a community contribution is payable by a shareholder in a fishery, in respect of each fishing business of the shareholder, for each financial year.

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

(3) No community contribution is payable for the financial year commencing on 1 July 2006.

(4) The community contribution for each subsequent financial year is $100 for each fishing business the components of which include shares in a fishery.

(5) A shareholder is liable for only one community contribution under this clause in respect of a fishing business (even if the fishing business includes components in more than one fishery).

(6) If a community contribution is unpaid after the due date for its payment, the balance then becomes due and payable (together with any interest that may be charged on the overdue amount).

(7) Interest may be charged, at the discretion of the Minister, if a community contribution is unpaid after the due date for its payment, on the overdue amount at the rate payable from time to time in respect of judgments of the Supreme Court.

(8) In this clause, financial year means the period of 12 months commencing on 1 July and ending on 30 June in the following year.