|REMINDER: New share linkage and management arrangements are in effect as of 1 December 2017.|
The NSW Government’s Commercial Fisheries Business Adjustment Program introduced linkages between shares and catch or effort, to provide greater certainty and ensure the long-term viability and sustainability of the NSW commercial fishing industry. Fishers now 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. A range of assistance measures has been provided to help industry through this transition process.
As a guide, a few important milestones (with approximate dates) are listed below. DPI will provide more information to fishers as the year progresses.
On 1 December 2017 the new share linkage and management arrangements commenced in most share classes.
The Independent Allocation Panel (IAP) has been established to provide advice to the government on the criteria to be used in allocating new species and effort quota shares in four fisheries.
The lAP process and consultation is being managed by Grant Thornton Australia Ltd. Further information on the panel and updates are available on the Grant Thornton website.
The requirement to hold a boat licence has been extended to July 2018, which is why renewal fees for fishing boat licences (FBL) were waived for the period 1 July 17 to 30 June 2018.
Please call Fishing Business Services on 1300 720 662 if you have any questions regarding commercial fishing or fishing boat licences.
Management fees were calculated on shareholdings as at 31 October 2017. There is one installment of fees which was payable on 21 January 2018, 60 days after issue.
Fishers are encouraged to contact Fishing Business Services on 1300 720 662 if they would like to discuss this further.