There have been some changes to register reports.
The Account type will be either NOR for normal quota shares or SET for settlement quota shares. The transfer of settlement quota shares is subject to authorisation by Te Ohu Kai Moana Trustee Limited.
The Share type will be either ITQ (Individual Transferable Quota) or PITQ (Provisional Individual Transferable Quota).
Unrestricted Shares/Restricted Shares/Restriction Type
If quota shares have a restriction placed over them the register report will show :
- the number of shares that are not affected by the restriction, listed under the heading Unrestricted Shares
- the number of shares that are affected by the restriction, listed under the heading Restricted Shares.
- The reason for the restriction will be shown under the heading Restriction Type.
The ACE equivalent is the amount of ACE the quota shares will generate each year based on the current TACC.
Please note that ACE register reports will also now show a 'Restriction Type' if applicable.