Section 8C: Concession of area in fish farming zones

8C. Concession of area in fish farming zones (1) Any company which obtains an authorisation under section 8B (4) (a) shall apply to the Prime Minister for a concession in a fish farming zone in respect of its fish farming project. (2) On receipt of an application under subsection (1), the Prime Minister may, on the recommendations of the Minister and the Board of Investment, grant to the applicant a concession by way of a deed of concession. (3) Any concession granted under subsection (2) shall— (a) not exceed 20 years’ duration and may be renewable for successive periods of 10 years; (b) not be transferable except with the written authorisation of the Prime Minister; (c) be subject to the concessionaire complying with the Maritime Zones Act; (d) be subject to such annual fees and charges as the Prime Minister may determine; and (e) be subject to such other terms and conditions as the Prime Minister may prescribe. [S. 8C inserted by s. 11 (c) of Act 18 of 2008 w.e.f. 19 July 2008.]