(1) A quota for a period (or any part of it) is transferable within that period, but only with the approval of the Director-General.(2) An application for the Director-General’s approval:(a) is to be made to the Director-General, in a form approved by the Director-General, and(b) is to specify the amount of quota to be transferred, and(c) is to be accompanied by the fee specified in Schedule 8.(3) The Director-General may transfer the quota or refuse to transfer the quota.(4) Without limiting subclause (3), the Director-General may refuse to transfer the quota (or any part of the quota) of an entitlement holder whose endorsement is suspended or cancelled.(5) A transfer of quota takes effect when the Director-General gives notice in writing of his or her approval of the transfer to the entitlement holders whose quotas are affected.(6) An entitlement holder who is notified by the Director-General of an approval of a transfer under subclause (5) must ensure that any nominated fisher of the entitlement holder is notified of that approval as soon as reasonably practicable.
Maximum penalty: 10 penalty units.(7) The conditions of a commercial fishing licence that is endorsed are taken to be amended in accordance with a transfer of quota approved under this clause, with effect on and from the date notice of the approved transfer is served on the licensee.