Torres Strait Fisheries (Quotas for Tropical Rock Lobster (Kaiar)) Management Plan 2018
12Value of quota units
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12 Value of quota units
(1) The value of a quota unit for a fishing season, expressed in kilograms, is worked out according to the following formula: start formula start fraction total allowable catch over total number of quota units end fraction end formula
where:
total allowable catch means the total allowable catch for the fishing season, expressed in kilograms.
total number of quota units means the total number of quota units for the fishing season.
(2) If the Minister increases the total allowable catch for a fishing season under section 14, the value of a quota unit is to be worked out again using the formula in subsection (1) of this section.