Publication Date
11-1989
Series Number
No.32
Publisher
Fisheries Department Perth Western Australia.
City
Perth
Abstract
During mid 1988 the Minister for Fisheries at that time, the Hon Julian Grill, sought the establishment of a committee of advice to examine security arrangements for financial institutions providing funds for fishing licences and fishing boats. The prime objective of the Committee was to examine and report upon the requirements for establishing fishing licences as a form of collateral for loans. The major issue before the Committee arose from licence holders seeding generally the means by which their investment in a fishing licence could be used as security, whereas lending institutions sought to ensure their loans would be adequately protected pursuant to the provisions of the Fisheries Act 1905. the Fisheries Department and the fishing industry also sought that the powers of the Minister for Fisheries in adjusting fishing capacity or catch within particular fisheries for management purposes were not compromised. In addition, the power of the Minister for Fisheries to suspend or cancel a licence pursuant to Sections 17 and 55 of the Fisheries Act 1905 was of particular concern to lending institutions where licences were to be used as security.
Number of Pages
24
Keywords
Financial management, Fisheries, Licences, Western Australia.
Disciplines
Aquaculture and Fisheries | Finance and Financial Management
Recommended Citation
Fisheries Department of Western Australia..
(1989), Fishing licences as security for loans.. Fisheries Department Perth Western Australia., Perth. Report No.32.
https://library.dpird.wa.gov.au/fr_fmp/33
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