Act No. 72 on the Fisheries Fund. Country/Territory Iceland Document type Legislation Date 2008 (2020) Source FAO, FAOLEX Subject Fisheries Keyword Special fund Aquaculture Inland fisheries Research Geographical area Arctic, Atlantic Ocean Islands, Europe, Europe and Central Asia, North Atlantic, North-East Atlantic, Northern Europe Entry into force notes This Act entered into force on 1 January 2009. Abstract The present Act establishes the Fisheries Fund. The Fisheries Fund is an independent fund owned by the state and managed by the Ministry of of Fisheries and Agriculture and the Ministry of Industry and Innovation, which has the role of providing loans or grants for projects that serve the purpose of promoting fish farming, improving fishing facilities, supporting research in rivers and lakes and increasing the value of fishing from them. The Fund shall be administered by a Board. Provisions on the composition and task of the Board are described. The Act also lays down details provisions on the allocations from the Fund. A regulation containing further provisions on the implementation of this Act, including on procedures and the allocation of funds from the Fisheries Fund, may be issued by the competent Ministries. Full text Icelandic Website www.althingi.is