8What is a statutory fishing right?

8 What is a statutory fishing right?

8.1 A statutory fishing right:

(a) is a right granted under section 31 of the Act; and

(b) is, subject to this plan, a right, in each season while the fishing right continues, to one of a number of equal portions of the national catch allocation determined for that season under this plan; and

(c) continues until:

(i) this plan ceases to have effect; or

(ii) the fishing right ceases to have effect, as set out in clause 29;

whichever occurs first.

8.2 While an interim live weight value of a statutory fishing right is in effect under this plan the fishing right is taken to be a right to a portion, equal to the portion referred to in subclause 8.1, in relation to so much of a national catch allocation as is determined under paragraph 18.3(b).