Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where a grant of a fishing right is required to be made by auction or tender, the regulations must prescribe the procedures to be followed for selecting the person to whom the grant will be made available under section 29.
(2) Without limiting the generality of subsection (1), those procedures must include:
(a) in the case of an auction--the procedures to be followed for:
(i) holding the auction; and
(ii) where a grant of a fishing right, being a grant that was available to a person under section 29 as a result of an auction, has ceased to be so available, holding another auction in respect of the grant; and
(b) in the case of tenders--the procedures to be followed for:
(i) opening the envelopes containing the tenders lodged by the persons registered under subsection 26(2) as eligible persons for the grant; and
(ii) recording the amount specified in each of those tenders; and
(iii) ranking those persons by reference to the amounts so recorded; and
(d) the preparation, where tenders have been called, of a list (in this Division called the precedence list ) of all the persons who have been registered under section 26 as eligible persons for the grant in the order in which they have, in accordance with the procedures prescribed by the regulations, been ranked for the purposes of the grant.