24Application to register a permanent transfer of quota units

24 Application to register a permanent transfer of quota units

(1) This section applies to a person (other than the TSRA) who holds one or more quota units that are: (a) quota units that were allocated to the person under section 15; or (b) quota units that were permanently transferred to the person under a previous application of this section. (2) The person may apply to AFMA to register a permanent transfer of some or all of those quota units to another person (who must not be a trust or a trustee of a trust). (3) An application under subsection (2) must be in the approved form. (4) A transfer has no effect until it is registered under section 26.

Note: The TSRA is not able to apply under this section to have quota units it holds permanently transferred to another person. A review of the allocation of quota units to the traditional inhabitant sector is to be commenced by the Authority within 4 years of the day this instrument commences: see section 17.