Fisheries Regulations 2019
42Manner in which compensation is payable if Secretary makes an offer for compensation
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42 Manner in which compensation is payable if Secretary makes an offer for compensation
(1) If the Secretary makes an offer for compensation in relation to a cancelled access licence under regulation 33(b), the Secretary must give the holder of the cancelled access licence and the holder of any registered financial interest in the cancelled access licence a notice in writing that sets out—
(a) the total compensation amount offered; and
(b) the compensation amount offered for each item calculated in accordance with regulation 34, 35 or 36 (as the case requires).
(2) If the holder of a cancelled access licence or any holder of a registered financial interest in that access licence accepts in writing the offer for compensation, the Secretary must pay the compensation by means of a cheque or bank transfer in accordance with the written direction of the holder of the access licence or the holder of the registered financial interest in that access licence (as the case requires).