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SNAPPER GROUPER AMENDMENT 15B - SAFMC.net

SNAPPER GROUPER AMENDMENT 15B - SAFMC.net

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the annual report. Note: this would then treat family corporations no different than othercorporations.Permit Sub-Alternative 2-B. If the annual report shows a shareholder other than theshareholders listed in the original corporate documentation, the permit shall not be renewed ortransferred.Permit Sub-Alternative 2-C. If the annual report shows a shareholder other than theshareholders listed in the original corporate documentation, the permit shall not be renewed ortransferred on a one to one permit basis; the corporation must obtain another limited access,transferable snapper grouper permit, and exchange those two such permits for one new permit.Permit Sub-Alternative 2-D. If the annual report shows a shareholder other than theshareholders listed in the original corporate documentation, the permit shall not be renewed ortransferred on a one to one permit basis; the corporation must obtain another limited access,transferable snapper grouper permit, and exchange those two such permits for one new permit orallow transfer back to an individual who is an immediate family member of the permit holderwho originally transferred the vessel permit to the family corporation.Permit Sub-Alternative 2-E (preferred). If the annual report shows a shareholder other thanthe shareholders listed in the original corporate documentation, the permit shall not be renewedunless such new shareholder is an immediate family member of the individual who originallytransferred the vessel permit to the family corporation.(Table 5) Permit sub-alternatives.Sub-Alternative If the annual report includes shareholder not listed on originalapplication…2-A permit may be renewed or not renewed according to theregulations, regardless of whether new shareholders have beenadded as reflected in the annual report.2-B permit shall not be renewed.2-C permit shall not be renewed, must do 2 for 1.2-D permit shall not be renewed, must do 2 for 1; BUT can transferback to individual immediate family member of the originalindividual permit holder on 1 for 1 basis.2-E (preferred) permit shall not be renewed, unless new shareholder is animmediate family member of the original individual permit holderon 1 for 1 basis.Permit Transferability Alternative 3. Repeal the 2 for 1 permit transfer provision as describedat 50 C.F.R. 622.18(e)(1)(iv):“(iv) Except as provided in paragraphs (e)(1)(i), (ii), and (iii) of this section, a person desiring toacquire a limited access, transferable permit for South Atlantic snapper grouper must obtain andexchange two such permits for one new permit.SOUTH ATLANTIC <strong>SNAPPER</strong> <strong>GROUPER</strong>PUBLIC HEARING SUMMARY<strong>AMENDMENT</strong> <strong>15B</strong> 11 NOVEMBER 2007

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