74.—(1) Where an application under section 15 of the Principal Act for a fish culture licence or under section 54 of the Act of 1980 for an aquaculture licence has been received by the Minister before the commencement of this section and has not been determined by the Minister before that commencement, the application shall, on that commencement, be deemed to be an application for an aquaculture licence under this Act.

(2) Subject to subsection (3), the provisions of this Act and any regulations made under this Act relating to aquaculture licences shall apply and have effect in relation to applications to which subsection (1) applies as if the applications were made on the commencement of this section.

(3) Where, before the commencement of this section, public notice has been given in relation to an application to which subsection (1) applies and interested persons or bodies have been afforded an opportunity to make submissions or observations in relation to the application, the requirements of the application regulations in relation to the giving of notice of an application for an aquaculture licence or the making of submissions or observations in relation to such an application shall not apply to that application.

(4) Where the Minister is satisfied that sufficient information has been provided for the Minister to decide an application to which subsection (1) applies in accordance with the provisions of this Act, the requirements of the application regulations in relation to the information which is required in respect of an application for an aquaculture licence shall not apply to that application.