‘‘(ii) The Secretary shall establish a simple 
and expeditious process for such a transfer. 
‘‘(iii) The Secretary may allow such a 
transfer only within the same category of vessel, 
fishing gear type, or other appropriate qualifier 
to maintain a fair and equitable allocation of 
quota shares. 
‘‘(C) COMMUNITIES
HOLDING
QUOTAS.—
The Council having authority over the fishery 
may authorize geographically discrete commu-
nities to hold quota shares. 
‘‘(3) TERMINATION OR LIMITATION OF FISHING 
QUOTA SYSTEM.—
‘‘(A) IN GENERAL.—A fishing quota sys-
tem established for a fishery may be limited or 
terminated at any time in accordance with this 
paragraph if necessary for the conservation and 
management of the fishery, including if the 
quota system has been found to have jeopard-
ized the sustainability of the stock. 
‘‘(B) PROCEDURE.—A fishing quota sys-
tem may be limited or terminated under this 
paragraph by—
‘‘(i) the Council that has authority 
over the fishery for which the system is es-
tablished, through a fishery management 
plan or amendment; 
‘‘(ii) the Secretary, through repeal or 
revocation in accordance with section 
304(h) of the fishery management plan 
that established the system; 
‘‘(iii) the Secretary, in the case of any 
fishing quota system established by a fish-
ery management plan developed or ap-
proved by the Secretary; or 
‘‘(iv) the Secretary, if—
‘‘(I) the Secretary finds that the 
system is not meeting or exceeding 
the requirements of the Act, including 
the requirement under paragraph 
(1)(A) to provide additional and sub-
stantial conservation benefits; and 
‘‘(II) the Council or Secretary 
does not make the changes necessary 
to ensure compliance with this sub-
section. 
‘‘(C) OTHER
AUTHORITY
OF
SECRETARY 
NOT DIMINISHED.—This paragraph does not di-
minish the authority of the Secretary under any 
other provision of this Act.
‘‘(4) TERMINATION, RENEWAL, OR LIMITATION 
OF QUOTA SHARES.—A quota share issued under a 
fishing quota system—
‘‘(A) shall expire not later than 7 years 
after the date it is issued; 
‘‘(B) may be renewed in accordance with 
the terms of the plan and regulations issued by 
the Secretary or the Council having authority 
over the fishery for which it is issued, if, based 
on a review by the committee established under 
paragraph (6), the fishing quota system is 
meeting or exceeding the requirements of this 
Act and the conservation and management re-
quirements of the fishery; and 
‘‘(C) may be modified, revoked, limited, or 
reallocated if necessary for the fishing quota 
system to meet or exceed the requirements of 
this Act and the conservation and management 
requirements of the fishery. 
‘‘(5) REFERENDUM PROCEDURE.—
‘‘(A) IN
GENERAL.—(i) A Council may 
submit a fishery management plan or plan 
amendment that establishes a fishing quota sys-
tem only if the submission of such plan or plan
amendment is approved in a referendum con-
ducted in accordance with this paragraph. 
‘‘(ii) The Secretary may prepare a fishery 
management plan or plan amendment that es-
tablishes a fishing quota system only if the de-
velopment and approval of such plan or plan 
amendment is approved in a referendum con-
ducted in accordance with this paragraph. 
‘‘(B) CONDUCT.—The Secretary shall con-
duct the referendum required under subpara-
graph (A). The Secretary shall develop guide-
lines to determine procedures to conduct such 
referendum in a fair and equitable manner. 
Prior to the referendum, the Secretary shall 
identify and notify all persons who are eligible 
to vote in the referendum, and make available 
to all such persons information concerning the 
schedule, procedures, and eligibility require-
ments for the referendum process and the pro-
posed fishing quota system. 
‘‘(C) REQUIRED VOTE.—Each referendum 
shall be decided by the affirmative vote of a 
two-thirds majority of the votes cast by persons 
who the Secretary determines are eligible to 
vote in the referendum.
‘‘(D) ELIGIBILITY
TO
PARTICIPATE.—A 
person shall be eligible to participate in a ref-
erendum under this paragraph with respect to 
a fishery only if the person—
‘‘(i) holds a permit to fish in the fish-
ery; or 
‘‘(ii) is a crew member on a fishing 
vessel who derives at least 30 percent of 
their annual income from the fishery that 
would be subject to the proposed fishing 
quota system and at least 60 percent of 
their total annual income from fishing. 
‘‘(6) 
COUNCIL
PROGRAM
REVIEW
COM-
MITTEE.—
‘‘(A) IN
GENERAL.—Each Council, upon 
deciding to develop a fishing quota system for 
a fishery, shall establish, maintain, and appoint 
members of a review committee to make rec-
ommendations to the Council and the Secretary 
for development, evaluation, and necessary 
changes to such system to ensure that it meets 
the requirements of this subsection. 
‘‘(B) GUIDELINES
FOR
MEMBERS.—The 
Council, in consultation with the Secretary, 
shall develop guidelines that will ensure that re-