110 STAT. 3592 PUBLIC LAW 104-297—OCT. 11, 1996 without appropriation or fiscal year limitation, only to the Secretary for the purposes of— "(i) administering the central registry system; and "(ii) administering and implementing this Act in the fishery in which the fees were collected. Sums in the Fund that are not currently needed for these purposes shall be kept on deposit or invested in obligations of, or guaranteed by, the United States.". 16 USC 1855 (e) REGISTRY TRANSITION. — Security interests on permits note. described under section 305(h)(1) of the Magnuson Fishery Conservation and Management Act, as amended by this Act, that are effective and perfected by otherwise applicable law on the date of the final regulations implementing section 305(h) shall remain effective and perfected if, within 120 days after such date, the secured party submits evidence satisfactory to the Secretary of Commerce and in compliance with such regulations of the perfection of such security. SEC. 111. PACIFIC COMMUNITY FISHERIES. (a) HAROLD SPARCK MEMORIAL COMMUNITY DEVELOPMENT QUOTA PROGRAM.^ -Section 305, as amended, is amended further by adding at the end: "(i) ALASKA AND WESTERN PACIFIC COMMUNITY DEVELOPMENT PROGRAMS.— Establishment. "(1)(A) The North Pacific Council and the Secretary shall establish a western Alaska community development quota program under which a percentage of the total £dlowable catch of any Bering Sea fishery is allocated to the progremi. "(B) To be eligible to participate in the western Alaska community development quota program under subparagraph (A) a community shall— "(i) be located within 50 nautical miles from the baseline from which the breadth of the territorial sea is measured along the Bering Sea coast from the Bering Strait to the western most of the Aleutian Islands, or on an island within the Bering Sea; "(ii) not be located on the Gulf of Alaska coast of the north Pacific Ocean; "(iii) meet criteria developed by the Governor of Alaska, approved by the Secretary, and published in the Federal Register; "(iv) be certified by the Secretary of the Interior pursuant to the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.) to be a Native village; "(v) consist of residents who conduct more than onehalf of their current commercial or subsistence fishing effort in the waters of the Bering Sea or waters surrounding the Aleutian Islands; and "(vi) not have previously developed harvesting or processing capability sufficient to support substantial participation in the grotmdfish fisheries in the Bering Sea, unless the community can show that the benefits from an approved Community Development Plan would be the only way for the community to realize a return from previous investments. "(C)(i) Prior to October 1, 2001, the North Pacific Council may not submit to the Secretary any fishery management plan,
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