122LWhere units transferred to person who intends to apply for

122L Where units transferred to person who intends to apply for licence (1) Where the Director approves an application under regulation 122G(1)(b) for the transfer of one or more pearl oyster fishing units to an applicant for, or a person who intends to apply for, a Pearl Oyster Fishery licence, the Director must specify on the transferor's Pearl Oyster Fishery licence the number of units to be transferred from the licensee on the grant of the licence to the (2) Where the Director approves and application under regulation 122G(1)(b) for the transfer of one or more pearl oyster fishing units to an applicant for, or a person who intends to apply for, a Pearl Oyster Fishery licence, the Director must specify on the Pearl Oyster Fishery licence granted to the person: (a) the number of pearl oyster fishing units permanently transferred to him or her on the grant of the licence; and (b) the total allowable catch on respect of the licensing year in which the pearl oyster fishing units are transferred.