32Definition of average declared fishery GVP amount

32 Definition of average declared fishery GVP amount

(1) The average declared fishery GVP amount, for a financial year (the relevant financial year) and a declared fishery, is the amount determined under subsection (2) for the relevant financial year and the declared fishery. (2) For the purposes of subsection (1), the Secretary must, by notifiable instrument, determine an amount for the relevant financial year and the declared fishery. The Secretary must do so as soon as practicable after the start of that year. Calculation is to be an average (3) That amount is to be the average of the declared fishery GVP amounts for the declared fishery and for each of the last 3 financial years before the relevant financial year. (4) The Secretary must specify in the instrument under subsection (2) each declared fishery GVP amount the Secretary used to determine that average. (5) The declared fishery GVP amount, for a declared fishery and a financial year, is the amount provided to the Secretary by the head of the agricultural statistics body as being the gross value of production in that year of all of the goods that are the produce of the declared fishery.

Note: For agricultural statistics body, see section 4.

Effect of substituted amounts (6) Once the Secretary has determined an amount under subsection (2) for the relevant financial year and a declared fishery: (a) the Secretary must, for the relevant financial year, disregard any amount provided to the Secretary by the head of the agricultural statistics body in substitution for a declared fishery GVP amount for the declared fishery; and (b) the Secretary must take the substituted amount into account in determining an amount under subsection (2) for each of the next 2 financial years after the relevant financial year and for the declared fishery.