18Actual live weight value and interim live weight value of a statutory fishing right

18 Actual live weight value and interim live weight value of a statutory fishing right

18.1 This clause applies to seasons that commence after the commencement of this plan.

18.2 The actual live weight value of a statutory fishing right for a season is calculated in accordance with the formula:

Start formula start fraction AusCatch over No. of SFRs end fraction end formula

where:

AusCatch is Australia’s national catch allocation in whole Southern Bluefin Tuna, measured in kilograms, for the season; and

No. of SFRs is the number of statutory fishing rights:

(a) granted under subclause 15.1; and

(b) that have not ceased to have effect, as set out in clause 29;

immediately before the actual live weight value is calculated.

18.3 Before the commencement of the season:

(a) if AFMA has determined AusCatch for the season—AFMA must determine the actual live weight value of a statutory fishing right for the season; or

(b) if AFMA has not determined AusCatch—AFMA must determine the interim live weight value of a statutory fishing right for the season.

18.4 The interim live weight value determined under paragraph 18.3(b) must not exceed 50% of the actual live weight value of a statutory fishing right for the previous season.

18.5 If, for a season, AFMA determines AusCatch during the period that:

(a) begins at the commencement of the season; and

(b) concludes 7 months after the commencement of the season;

AFMA must, without delay, determine the actual live weight value of a statutory fishing right for the season.

18.6 If AFMA makes a determination of the AusCatch for a season under subclause 17.4, 17.6 or 17.7, AFMA must, without delay, determine the actual live weight value of a statutory fishing right for the season.

18.8 AFMA must not determine more than 1 actual live weight value of a statutory fishing right for a season unless, because of the operation of subclause 17.7, the AusCatch determined for the season is varied.