Commercial Fisheries Business Adjustment Program

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.

Key dates in 2018

As a guide, a few important milestones (with approximate dates) are listed below. DPI will provide more information to fishers as the year progresses.

  • Release of draft report by the Independent Allocation Panel (IAP) on criteria for allocating new quota shares (17 species/species groups)
  • Release of DPI consultation papers on proposed new management arrangements (eg. real time reporting, transfer rules)
  • Final IAP report/recommendations due to Government
  • Allocation of quota (for 2018/19 fishing period) to holders of mud crab, blue swimmer crab, eel, spanner crab and eastern sea garfish quota shares
  • CommFish NSW meeting 2 (proposed)
  • Start of new quota system for spanner crab
  • Removal of some fishing boat licensing requirements
  • CommFish NSW meeting 3 (proposed)
  • Issue of new quota shares for 17 new species/species groups + effort shares in Ocean Trawl
  • CommFish NSW meetings 4 & 5 (proposed)
By Dec
  • Fishing determinations for 17 new species/species groups + effort in Ocean Trawl

New share linkage and management arrangements

On 1 December 2017 the new share linkage and management arrangements commenced in most share classes.

Independent Allocation Panel

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.

Commercial fishing boat licenses

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

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.