Fisheries Management Act 1994 No 38
44 Omission of share management fishery
(1) This section has effect if the description of a share management
fishery is omitted from Schedule 1, including an omission for the purpose of
redefining an existing share management fishery.
(2) When the description of the fishery is omitted, all shares in the
fishery are cancelled.
(3) If the description of the fishery is omitted after the
commencement of the management plan for the fishery, the holders of the
cancelled shares are entitled to compensation from the State for the market
value before the cancellation of the shares they
(4) The amount of compensation payable is to be determined by
agreement between the Minister and the person entitled to compensation. If the
amount of compensation is not agreed, it is to be determined by the
(5) A person entitled to compensation may agree to accept instead
shares in another share management fishery which replaces the omitted fishery
wholly or partly.
(6) A person who is dissatisfied with the amount of compensation
offered to the person under this section or with any delay in the payment of
compensation may appeal to the Land and Environment
(7) The regulations may make provision for or with respect to the
payment of compensation in accordance with this
(8) This section does not apply:
(a) if a description of a fishery is omitted from Part 2 of Schedule 1
after the fishery is terminated in accordance with Division 2A,
(b) if a description of a fishery is omitted from Part 2 of Schedule 1
and inserted in Part 1 of Schedule 1 (that is, the fishery is converted in
accordance with Division 2A).