New quota shares issued

In late 2017, new quota shares were issued to eligible shareholders for the species that are being managed by catch quota from December 2017 (ie. Estuary General – mud crab, blue swimmer crab and eel, Ocean Hauling – eastern sea garfish and Ocean Trap and Line – spanner crab).

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. These shares do not give you an endorsement.

The final amount of quota you are allocated each year depends upon how many quota shares you have in your Fishing Business when quota is allocated.

For 2017/18, the number of quota shares you have been issued ensures that you get the amount of catch quota that was forecast for each share class in May 2016.

As a guide, the amount of quota issued for 2017/18 for each quota share owned was as follows:

  • 1 mud crab quota share = about 10.9 kg mud crab quota
  • 1 blue swimmer crab share = about 5 kg blue swimmer crab quota
  • 1 eel quota share = about 6.4 kg eel quota
  • 1 eastern sea garfish share = about 16.2 kg eastern sea garfish quota

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

Who were the new quota shares issued to?

The new quota shares were issued to shareholders of eligible existing shares based on the number of eligible existing shares held in a fishing business on the relevant date (30 September 2017). See Table of eligible shareholders (PDF, 541.35 KB).

The Fisheries Management (Allocation Formula for Issuing Quota Shares) Notice 2017 (PDF, 63.73 KB), which sets out the formula used to determine the number of new quota shares issued to eligible shareholders, was published in the Government Gazette on 13 October 2017. This formula ensures that for the 2017/18 fishing period, shareholders get the amount of catch quota for the relevant species that was forecast in May 2016.

The Fisheries Management (Issue of Quota Shares) Instrument 2017 (PDF, 640.78 KB), by which new quota shares were issued to eligible shareholders, was published in the Government Gazette on 20 October 2017.

For more information on how these numbers were calculated, see Allocation of new quota shares - how were the numbers calculated? (PDF, 212.93 KB)

Shareholders were given the opportunity to appeal the number of new quota shares issued to them if they had reason to believe the number of new quota shares issued had not been determined correctly (in accordance with the Fisheries Management (Allocation Formula for Issuing Quota Shares) Notice 2017 (PDF, 63.73 KB). Lodgement of appeals to the Share Appeal Panel closed on Monday 20 November 2017

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 are transferable to the owner of an existing fishing business (other than a Lobster, Abalone, Sea Urchin, and Turban Shell or Inland Fishing Business).

Catch quota can also 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 also (previously) 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.