Marine Living Resources Act, 1998 (Act No. 18 of 1998)Chapter 3 : Management of Marine Living ResourcesPart 3 : Commercial Fishing22. Leasing of rights |
| (1) | As from a date fixed by the Minister in the Gazette, the rights contemplated in section 18 shall, subject to section 31, be leased by the State. |
| (2) | The Minister may prescribe the method of allocation and payment in respect of leases contemplated in subsection (1), including criteria for the granting of the rights contemplated in section 18. |
| (3) | The method of allocation and payment contemplated in subsection (2), which may include tendering and fixed price leasing, may vary between branches of the fishing industry. |
| (4) | With the concurrence of the Minister of Finance, a determined portion of the money paid in respect of a right leased by the State shall be paid into the Fund and the remainder shall be paid into the National Revenue Fund. |