Victorian Numbered Regulations

FISHERIES REGULATIONS 2009 (SR NO 2 OF 2009) - REG 32

r. 32

    (1)     If the Secretary accepts in full a claim for compensation made under section 63(3) of the Act, the Secretary must—

        (a)     give notice in writing of the acceptance of the claim to—

              (i)     the holder of the cancelled access licence; and

              (ii)     the holder of any registered financial interest in the cancelled access licence; and

        (b)     pay the compensation to the claimant by means of a cheque or bank transfer in accordance with the written direction of the claimant.

    (2)     If the Secretary makes an offer for compensation in relation to a cancelled access licence under regulation 31(1)(b), the Secretary must give the holder of the cancelled access licence and the holder of any registered financial interest in the cancelled access licence a notice in writing that sets out—

        (a)     the total compensation amount offered; and

        (b)     the compensation amount offered for each item calculated in accordance with the relevant formula in regulation 31.

    (3)     If the holder of a cancelled access licence or any holder of a registered financial interest in that access licence accepts in writing an offer for compensation made under regulation 31(1)(b), the Secretary must pay the compensation by means of a cheque or bank transfer in accordance with the written direction of the holder of the access licence or the holder of the registered financial interest in that access licence (as the case requires).