Maritime Provinces Fishery Regulations — 29.2
29.2 (1) A licence referred to in paragraphs 29.1(a) to (f) may only be issued to (a) an individual or their estate or succession; (b) a corporation, all of the shares of which belong to one individual; or (c) an organization referred to in paragraph 29.1(f). (2) In the case of a licence referred to in paragraph 29.1(a), (b), (d) or (g), the activities authorized under the licence must be carried out personally by the licence holder, the operator named in the licence or a person authorized in accordance with subsection 23(2) of the Fishery (General) Regulations . (3) A licence referred to in paragraph 29.1(a) or (c) shall not be issued if, at the time of application, the applicant has transferred the use or control of the rights or privileges conferred under the licence for which the applicant is the licence holder or was the licence holder in the 12 months prior to the application or conferred under a licence that may be issued to the applicant. (4) A licence holder that has been denied the issuance of a licence under subsection (3) or has had a licence cancelled under paragraph 9(1)(b) of the Act and did not resolve the matter that gave rise to the denial, suspension or cancellation within 12 months of the day on which the licence was denied, suspended or cancelled is never eligible to hold the same type of licence again. (5) Subsection (3) does not apply in the following circumstances: (a) the licence is offered as security in a financial agreement under provincial legislation; (b) in the case referred to in paragraph (a), a creditor that is a recognized financial institution uses or controls the rights or privileges under the licence in order to exercise its rights with respect to a security; (c) in the case referred to in paragraph (a), a creditor that is not a recognized financial institution, uses the privilege under the licence to recommend to the Minister the next licence holder or the reallocation of fishing quota, in order to exercise its rights with respect to a security; (d) a trustee or receiver appointed under the Bankruptcy and Insolvency Act uses or controls rights or privileges conferred by the licence; (e) all or part of the rights of the proceeds from the sale of the catch are transferred to any person on the vessel who is participating in making the catch; (f) in the case of an applicant that is a licence holder, the rights and privileges under that licence or the rights and privileges to be granted if the application is accepted have been transferred to an inshore family fishing corporation of which the applicant holds 100% of the voting shares; (g) in the case of an applicant that is not a licence holder, the rights and privileges that are granted under the licence if the application is accepted have been transferred to a corporation that would be an inshore family fishing corporation of which the applicant holds 100% of the voting shares if the licence was issued; (h) with the authorization of the Minister, the licence holder transfers the rights or privileges under the licence in order to give effect to the following arrangements made with other holders of the licences referred to in any of paragraphs 29.1(a) to (g): (i) an arrangement for the reallocation of a fishing quota, or (ii) an arrangement for the reallocation of authorized fishing gear; (i) an organization referred to in paragraph 29.1(f) has required the licence holder to provide part of the proceeds from the sale of the catch back to the organization in exchange for additional fish allocation; (j) a liquidator of the succession, an executor or an administrator of the estate appointed upon the death of the licence holder uses or controls the rights or privileges under the licence; (k) a person is authorized to act on behalf of the licence holder in the case of their incapacity, including a guardian, committee, Public Guardian and Trustee, tutor, curator, Public Curator, mandatary under a protection mandate or any other person who is appointe