122JCommencement and duration of transfer

122J Commencement and duration of transfer (1) Where the Director approves an application under regulation 122G(1)(a) for the transfer of a pearl oyster fishing unit to a licensee, the transfer takes effect on the day specified in the transfer. (2) Where the Director approves an application under regulation 122G(1)(b) for the transfer of a pearl oyster fishing unit to an applicant for, or a person who intends to apply for, a Pearl Oyster Fishery licence, the transfer takes effect on the grant of the licence to the person. (3) A temporary transfer of a pearl oyster fishery unit remains in force until the expiration of 30 June of the licensing year specified in the transfer to be the last year for which the transfer remains in force.