(1) Every quota held under Part 2B of the principal Act immediately before the commencement of this Act is hereby declared to be individual transferable quota under Part 2A of that Act.
(2) Annual allowable catch under Part 2B of the principal Act and having effect immediately before the commencement of this Act is hereby deemed to be total allowable commercial catch under Part 2A of that Act.
(3) Every reference in any enactment or document to annual allowable catch for scallops shall hereafter be read as a reference to total allowable commercial catch.
(4) Notwithstanding anything in section 28OB of the principal Act, the total allowable commercial catch for southern scallops, northland scallops, and Nelson-Marlborough dredge oysters may be altered during any fishing year and the commencement date of any fishing year to which any relevant total allowable commercial catch applies may be altered.
Subsection (4) was amended, as from 1 October 1996, by section 316(1) Fisheries Act 1996 (1996 No 88) by substituting the words
“southern scallops, northland scallops, and Nelson-Marlborough dredge oysters”, and the words
“to which any relevant”, for the word
“scallops” and for the words
“to which any”.