"It creates an atmosphere for greater confidence in
investing in these flagship primary industries which
promote Tasmania's reputation as a clean, quality
producer," he said.
The register applies to
interests held in licences or deeds of agreement in
Tasmania's abalone, rock lobster and giant crab
fisheries.
Until now, financial
interests in abalone Deeds of Agreement only could be
registered with the
Office of Business Affairs.
The new Act means that
banks and others lending money against abalone deeds of
agreement and rock lobster and giant crab fishing
licences will be able to register their interest in the
licence.
The
Department of Primary Industries,
Water and Environment's Fisheries Licensing
System will administer the register, which is being
created at the request of the abalone and rock lobster
fishing industries.
"It creates a system in
which banks and lending institutions advancing loans
will have greater confidence the property is protected
by ensuring that no licence or entitlement can be
transferred without the knowledge of each person with a
declared interest,” said the Minister.
"It sets up a compulsory
register of ownership and a voluntary register of
interest in these high-value licences, providing a level
of transparency which does not exist at present."
Mr Llewellyn said
existing interests in abalone deeds registered under the
previous scheme have already been transferred into the
new register.
If required in the
future, the register will be extended to cover other
Tasmanian fishing licence sectors.
From 1 July 2002, any
application to transfer a rock lobster or giant crab
fishing licence; transfer rock lobster and giant crab
quota units or an assignment of rights under an abalone
Deed of Agreement must also be accompanied by an
application form under the new Act.
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