Where there is in force an arrangement under this Part under which the Protected Zone Joint Authority has the management of a fishery and the fishery is to be managed in accordance with the law of the Commonwealth, the Protected Zone Joint Authority has the functions of:
(a) keeping constantly under consideration the condition of the fishery;
(b) formulating policies and plans for the good management of the fishery; and
(c) for the purposes of the management of the fishery:
(i) exercising the powers conferred on it by this Part; and
(ii) co - operating and consulting with other authorities (including Joint Authorities established under the Fisheries Act 1952 or the Fisheries Management Act 1991 ) in matters of common concern.