Page:United States Statutes at Large Volume 120.djvu/3623

 120 STAT. 3592

Permit period.

VerDate 14-DEC-2004

12:05 Jul 13, 2007

PUBLIC LAW 109–479—JAN. 12, 2007

Commission Act to the extent that such section 5 applies to unfair methods of competition. ‘‘(d) AUCTION AND OTHER PROGRAMS.—In establishing a limited access privilege program, a Council shall consider, and may provide, if appropriate, an auction system or other program to collect royalties for the initial, or any subsequent, distribution of allocations in a limited access privilege program if— ‘‘(1) the system or program is administered in such a way that the resulting distribution of limited access privilege shares meets the program requirements of this section; and ‘‘(2) revenues generated through such a royalty program are deposited in the Limited Access System Administration Fund established by section 305(h)(5)(B) and available subject to annual appropriations. ‘‘(e) COST RECOVERY.—In establishing a limited access privilege program, a Council shall— ‘‘(1) develop a methodology and the means to identify and assess the management, data collection and analysis, and enforcement programs that are directly related to and in support of the program; and ‘‘(2) provide, under section 304(d)(2), for a program of fees paid by limited access privilege holders that will cover the costs of management, data collection and analysis, and enforcement activities. ‘‘(f) CHARACTERISTICS.—A limited access privilege established after the date of enactment of the Magnuson-Stevens Fishery Conservation and Management Reauthorization Act of 2006 is a permit issued for a period of not more than 10 years that— ‘‘(1) will be renewed before the end of that period, unless it has been revoked, limited, or modified as provided in this subsection; ‘‘(2) will be revoked, limited, or modified if the holder is found by the Secretary, after notice and an opportunity for a hearing under section 554 of title 5, United States Code, to have failed to comply with any term of the plan identified in the plan as cause for revocation, limitation, or modification of a permit, which may include conservation requirements established under the plan; ‘‘(3) may be revoked, limited, or modified if the holder is found by the Secretary, after notice and an opportunity for a hearing under section 554 of title 5, United States Code, to have committed an act prohibited by section 307 of this Act; and ‘‘(4) may be acquired, or reacquired, by participants in the program under a mechanism established by the Council if it has been revoked, limited, or modified under paragraph (2) or (3). ‘‘(g) LIMITED ACCESS PRIVILEGE ASSISTED PURCHASE PROGRAM.— ‘‘(1) IN GENERAL.—A Council may submit, and the Secretary may approve and implement, a program which reserves up to 25 percent of any fees collected from a fishery under section 304(d)(2) to be used, pursuant to section 53706(a)(7) of title 46, United States Code, to issue obligations that aid in financing— ‘‘(A) the purchase of limited access privileges in that fishery by fishermen who fish from small vessels; and

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