If the Minister is satisfied that there is no impediment under section 78 of the Act to granting an application for a fishing licence (rock lobster), the Minister is to grant the application if the applicant –

(a) held a fishing licence (rock lobster) on the 28 February most immediately preceding the application lodgment date; and

(b) had not, before the application lodgment date, transferred that fishing licence (rock lobster) to another person.