Division 3

Licences shall be issued for specific vessels and shall not be transferable, subject to the provisions of paragraph 4. Licences shall indicate the maximum quantity authorised to catch and retain on board. An amendment of any maximum quantity indicated in the licence shall be subject to a new licence request. In the case where a vessel exceeds any maximum quantity indicated in its licence, it shall pay a fee for the quantity in excess to the maximum quantity indicated in its licence. No new licence is issued to that vessel as long as the fees corresponding to the exceeded quantity are not paid. This fee is calculated in accordance with Part B 3.