Document ID: chunk:federal_register_of_legislation:C2024C00591:section:46:p1
Version: federal_register_of_legislation:C2024C00591
Segment Type: section
Provision Reference: s 46 (pt 1/2)
Character Range: 158850–161503

46  Registration of dealings in fishing rights

Scope
 (1) This section applies to a dealing that would, but for subsection (2), have the effect of creating, assigning, transferring, transmitting or extinguishing an interest in a fishing right, other than an interest that is a PPSA security interest.

Registration of dealing
 (2) The dealing has no effect of a kind mentioned in subsection (1) until it is registered under this section.
 (3) A party to the dealing may lodge with AFMA:
 (a) an application in the form approved by AFMA for registration of the dealing; and
 (b) the instrument evidencing the dealing; and
 (c) an instrument setting out such particulars (if any) as are prescribed for the purposes of an application for registration; and
 (d) one copy each of the application and of the instruments mentioned in paragraphs (b) and (c).
 (3A) A party to the dealing may, instead of lodging the instrument evidencing the dealing, lodge with AFMA a summary of that instrument containing the particulars required by AFMA for the purposes of this subsection.
 (4) Subject to subsections (4C) and (4D), if an application for registration of the dealing, either the instrument evidencing the dealing or a summary of that instrument that complies with subsection (3A), and the other documents referred to in paragraphs (3)(c) and (d), are lodged with AFMA, AFMA must:
 (a) register the dealing by entering in the Register the following particulars:
 (i) the name of the person acquiring the interest in the fishing right;
 (ii) a description of the dealing; and
 (b) endorse on the instrument evidencing the dealing and the copy of that instrument the fact of the entry having been made together with the date and time of the making of the entry.
 (4A) If a person lodges with AFMA a notice, in the form approved by AFMA:
 (a) stating that a dealing of a kind referred to in subsection (1) that is described in the statement has taken place; and
 (b) claiming that, if the dealing were registered, the person would have an interest in a fishing right; and
 (c) setting out particulars of the interest; and
 (d) requesting AFMA to register the claim;
AFMA must register the claim by entering in the register the person's name and particulars of the interest claimed.
 (4B) If, after the registration of a claim to an interest in a fishing right, the claimant, by notice lodged with AFMA in the form approved by AFMA, withdraws the claim, AFMA must cancel the registration by omitting from the register the entry relating to the claim.
 (4C) If:
 (a) a claim to an interest in a fishing right is registered; and
 (b) an application is made to AFMA