New quota shares issued

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.

Fisheries Management Legislation Amendment (Quota Shares) Regulation 2017

The Fisheries Management Legislation Amendment (Quota Shares) Regulation 2017 amends the Estuary General, Ocean Hauling and Ocean Trap and Line Share Management Plans to:

  • Provide for the creation and issue of new quota shares in the Estuary General, Ocean Hauling and Ocean Trap and Line fisheries
  • Specify the classes of fishers who are eligible for the new quota shares
  • Provide for the allocation of new quota shares to eligible fishers
  • Enable a fisher to appeal to the Share Appeal Panel against the determination of the number of new quota shares issued to the fisher

New quota shares Eligible existing shares
Estuary general – mud crab quota

Estuary general – mud crab trapping – Regions 1 – 7

Estuary general – meshing – Regions 1 – 7

Estuary general – blue swimmer crab quota

Estuary general – trapping – Regions 1 – 7

Estuary general – meshing – Regions 1 – 7

Estuary general – category one hauling – Regions 1 – 7

Estuary general – eel quota Estuary general – eel trapping – Regions 1 – 7
Ocean hauling – eastern sea garfish quota Ocean hauling – garfish net (hauling) – Regions 1 - 7
Ocean trap and line – spanner crab quota

Ocean trap and line – spanner crab north

Ocean trap and line – spanner crab south

What are the new shares?

The new shares are Estuary General – mud crab, blue swimmer crab and eel quota shares, Ocean Hauling – eastern sea garfish quota shares and Ocean Trap and Line – spanner crab quota shares.

Who will the new quota shares be allocated to?

The new quota shares will be allocated to shareholders of eligible existing shares (see table above) based on the number of eligible existing shares held in a fishing business on the relevant date (30 September).

The formula that will determine the number of new quota shares that eligible shareholders receive will be published in a Gazette notice in October. This formula will guarantee that shareholders get the amount of catch quota for the relevant species that was forecast in May 2016.

Can the new quota shares be transferred independently of existing shares?

Yes, the new quota shares can be transferred independently of existing access shares. The new quota shares will be transferable to the owner of an existing fishing business (other than a Lobster, Abalone, Sea Urchin, and Turban Shell or Inland Fishing Business).

If any eligible existing shares are transferred out of a fishing business after the relevant date (30 September) the eligibility to receive the new quota shares and corresponding quota does not transfer with the shares.

Fishing businesses holding eligible existing shares will not be able to change ownership from the relevant date (30 September) until the new quota shares are issued. Once the new quota shares are issued, catch quota will be issued to the owners of the new quota shares.

From December 1, catch quota will be able to be transferred between owners of the new quota shares and owners of any existing share class that is subject to catch quota..

Catch quota has already been issued to Spanner Crab Northern Zone shareholders and is transferable. Catch quota for the 2018/19 fishing period will be issued to the owners of the new Spanner Crab quota shares by July 2018