New Zealand Legislation: Acts

58A Powers of court on application for declaration under section 58

• (1) This section applies if, on an application for a declaration by a person (A) under section 58(3)(a), the court declares A to be an overseas person.

  (2) In that case, the court may also order—

  • (a) that the relevant interest in fishing quota be forfeit to the Crown without compensation; or

  • (b) the disposal by A of the relevant interest in fishing quota within a specified period that,—

    • (i) in the case of provisional catch history or provisional individual transferable quota, is not more than 60 working days after the date on which any individual transferable quota is allocated for that provisional catch history or provisional individual transferable quota:

    • (ii) in any other case, is not more than 60 working days after the order.

  Section 58A: inserted, on 25 August 2005, by section 73 of the Overseas Investment Act 2005 (2005 No 82).