57G Criteria for overseas investments in fishing quota

(1)

The criteria for an overseas investment in fishing quota are all of the following:

(a)

the relevant overseas person is a body corporate:

(b)

the individuals with control of the relevant overseas person collectively have business experience and acumen relevant to that overseas investment:

(c)

the relevant overseas person has demonstrated financial commitment to the overseas investment:

(d)

all the individuals with control of the relevant overseas person are of good character:

(e)

none of the individuals with control of the relevant overseas person are individuals of the kind referred to in section 15 or 16 of the Immigration Act 2009 (which list certain persons not eligible for visas or entry permission under that Act):

(f)

the interest in fishing quota is capable of being registered in the Quota Register or the Annual Catch Entitlement Register:

(g)

the granting of consent is in the national interest, as determined by the relevant Ministers under section 57H.

(2)

See section 57I in relation to subsection (1)(d) and (e).

Section 57G: inserted, on 25 August 2005, by section 73 of the Overseas Investment Act 2005 (2005 No 82).

Section 57G(1)(e): substituted, at 2 am on 29 November 2010, by section 406(1) of the Immigration Act 2009 (2009 No 51).