1. Membership fee proposal
SAOGA
Membership fee proposal

2. Membership structure and fees
Pre Aquaculture Act 2002 – licence holder only
Post Aquaculture Act 2002 – licence/lease holder member SAOGA (site rehabilitation fund for lease)
These entities were usually related parties
Licence Holder
Operator
Corresponding Lease Holder
Entity (water)
Licence Holder
Operating Entity

3. Membership structure and fees
Over time – the trading of leases and licences has resulted in a licence holding operating over corresponding lease which may or may not be owned by related parties.
Bloggs’ Superfund
Lease 1
related
Operating entity holding
Licence 1
Licence 2
Licence 3
Oyster Investments Pty Ltd
Lease 2
unrelated
unrelated
Seafood Investments Pty Ltd
Lease 3

4. Drivers for change
SAOGA Member usually the Operating Entity (licence holders) - required to list all of their leases on their membership –often incomplete
Corresponding leases often owned by different legal entities
Lease holder entities are responsible for site rehabilitation and therefore for contribution to site indemnity fund
PIRSA requires information about lease holder entities who are SAOGA members
No membership =$10,000 bank guarantee to PIRSA

5. For example
Natural Oysters is the Operating Partnership with 9 licences. Corresponding leases are owned by 3 different legal Entities.
Coates Superfund
4 leases
Operating entity
Natural Oysters
9 licences
e.g. FM0052 etc
Coates Family Trust
2 leases
e.g. AL 00023
JR Trust
3 leases

6. Membership structure and fees
Summar
Constitution
Membership is licence/lease
Interpretation:
Membership is
Licence/lease holder(s) – 1 vote
or could be
Lease holder only – 1 vote
Rationale
Major value of the investment lies in the lease.
A lease holder who is a “silent” partner in terms of operation may still wish to have a significant involvement with the strategic direction of industry and therefore a vote.

7. Membership structure and fees
Licence/lease holder member SAOGA (site rehabilitation fund for lease)- related parties
Current Membership Fee would be $650
Proposed New Fee 1 vote
Licence Fee: $500 + Lease Fee $100
Site Rehabilitation Fee: $20 plus $2.50 per hectare i.e. $20 + $2.50 x 10 = $45.00
Total Membership Fee $645.00
Licence Holder
Operating Entity
Corresponding Lease Holder
Entity (water)

8. Membership structure and fees
Fee Structure 1 vote:
Licences Entity $500
Lease Entity 1 $100 + $45 SRF
Lease Entity 2 $100 + $32.50 SRF
Lease Entity 3 $100 + $27.50 SRF
Total Membership Fee = $500 + $145 + $ $ = $905
Lease Entity 1 Superfund 10 ha
Operator/Licences holder
Farm Fresh Oysters
Lease Entity 2
Oyster Investments Pty Ltd 5 ha
Lease Entity 3
Seafood Investment Pty Ltd 3 ha

9. Membership structure and fees
Fee Structure 1 vote:
Licence holder $500
Lease Holder 1 $100 + $45 SRF
Lease Holder 2 $100 + $32.50 SRF
Total Membership Fee = $500 + $145 + $ = $777.50
Fee Structure 1 vote
Lease Holder 3
Total Membership Fee = $532.50
Lease Entity 1 Superfund 10 ha
Operator/Licences holder
Farm Fresh Oysters
Lease Entity 2
Oyster Investments Pty Ltd 5 ha
Lease Entity 3
Seafood Investment Pty Ltd 3 ha

10. Membership structure and fees
Summary Fees 1 Vote – 1 Member Licence $500 Corresponding lease entities related or unrelated parties endorsed on licence membership $100 SRF Fee is $20 fixed charge plus $2.50 per hectare per lease entity. Extra Vote per licenced member if a corresponding lease entity wishes to become a member in own right. Lease $500 plus SRF Fee.

11. Membership structure and fees
Important Note: If a lease entity chooses not to become a member of SAOGA endorsed on licence holder membership or in own right then that entity will be required to provide PIRSA with a $10,000 bank guarantee as an alternative to the SAOGA SRF.

12. Questions for Industry
Would industry support
The new membership fee structure
$500 per licence
$100 per corresponding lease entity
$20 fixed fee plus $2.50 per hectare SRF fee per lease entity.
$500 per lease entity only membership plus SRF as per 3. above
The voting structure
Licence/lease holder
Lease holder only