Document ID: chunk:federal_register_of_legislation:F2024C01020:reg:8
Version: federal_register_of_legislation:F2024C01020
Segment Type: reg
Provision Reference: reg 8
Character Range: 29589–30468

8  What is a statutory fishing right?

        8.1 A statutory fishing right:
           (a) is a right granted under section 31 of the Act; and
           (b) is, subject to this plan, a right, in each season while the fishing right continues, to one of a number of equal portions of the national catch allocation determined for that season under this plan; and
           (c) continues until:
              (i) this plan ceases to have effect; or
              (ii) the fishing right ceases to have effect, as set out in clause 29;
            whichever occurs first.

        8.2 While an interim live weight value of a statutory fishing right is in effect under this plan the fishing right is taken to be a right to a portion, equal to the portion referred to in subclause 8.1, in relation to so much of a national catch allocation as is determined under paragraph 18.3(b).