Act amending Fishing Funding Pool Act (No. 26 of 2015). Country/Territory Greenland (Denmark) Document type Legislation Date 2015 Source FAO, FAOLEX Subject Fisheries Keyword Marine fisheries Subsidy/incentive Education Allocation/quota Fishing vessel Fishery management and conservation Geographical area Americas, Arctic, Atlantic Ocean Islands, European Union Countries, North America, North Atlantic Entry into force notes 1 January 2016. Abstract The Act amends the introduction of Fishing Funding Pool Act, in particular “The purpose of the Act is to provide subsidy for the development and promotion of the fishery sector, and facilitating access to the profession for new players, as well as to contribute to the renewal of the fleet." Also, subsidies may be granted for the scrapping of fishing vessels in coastal fishing within a given year's budget. Criteria for subsidy required if the vessels include; recording in the fishing vessels or fleet register, and in the Ministry of Fisheries, Hunting and Agriculture for authorized vessels operating in commercial fishing; tonnage certificate of more than 5 GRT/8 GT but less than 75 GRT/120 GT; of 25 years or older; have actively participated in the Greenland fisheries; and have not made transfers in quota share the two preceding calendar years prior to the application date. This applies if the transfer concerns the entire quota share or part of it. Full text Danish Website www.nanoq.gl References - Legislation Amends Fishing Funding Pool Act (No. 15 of 2006). Legislation | Greenland (Denmark) | 2006 Keyword: Agricultural development, Subsidy/incentive, Internal trade Source: FAO, FAOLEX