The NSW Government’s Commercial Fisheries Business Adjustment Program introduced linkages between shares and catch or effort. Fishers have the ability to invest in their businesses with more certainty than ever before. Importantly, share linkages have been tailored to each share class.
Under the Business Adjustment Program, some commercial fishers purchased more shares to secure their level of business activity, while others chose to sell their shares and exit the industry. There is a range of assistance measures available to help industry through this transition process.
By 1 December, new quota shares will have been issued to eligible shareholders for the species that will be managed by catch quota from December 2017. The new quota shares provide an ongoing right to catch quota for the relevant species. Each year catch quota will be allocated to owners of the new quota shares.
Important dates for new quota shares
Find out more about new quota shares.
Subsidised share trading market invoices and payments
Now that the subsidised share trading market has closed, the RAA will calculate the difference between payments and invoices where a shareholder is both a buyer and a seller in the market.
E.g. If you sold shares for $10 and bought shares for $20 the RAA will invoice you $10, or if you bought shares for $10 and sold shares for $20, you will receive a payment from the RAA for$10.
Fisher Care Line
The Fisher Care Line is still available, providing a telephone based coaching session to any fishers affected by the NSW Commercial Fisheries Business Adjustment Program. These sessions will provide fishers with support if they are experiencing higher levels of stress that can be experienced when going through any transition period.
If you would like to make an appointment for a session, please call 1800 137 929 or email firstname.lastname@example.org
In November last year an inquiry was announced into commercial fishing in NSW. On 23 February 2017, the report from that inquiry was tabled in Parliament. The report can be accessed via the link below.
The NSW Government welcomes the Report from the General Purpose Standing Committee No.5’s (PDF, 313.13 KB) inquiry into commercial fishing in NSW. We support all recommendations in principle and are working to quickly implement them.
The NSW Government engaged an independent consultant, Neil MacDonald, to advise of issues that should be considered regarding the implementation of the Business Adjustment Program.
After consultation with commercial fishers and industry stakeholders, including the Professional Fisherman’s Association, a range of issues were identified and additional measures developed to address key industry concerns raised, including the provision of greater certainty for those fishers undergoing the Independent Allocation Panel Process. More information can be found in the full response below.