Fisheries Management Act, 1990. Country/Territory Iceland Document type Legislation Date 1990 (2006) Source FAO, FAOLEX Subject Fisheries Keyword Basic legislation Marine fisheries Foreign fishing Fishing vessel Fishing gear/fishing method Protected fishing area Seasons Fishery management and conservation Enforcement/compliance Offences/penalties Geographical area Arctic, Atlantic Ocean Islands, Europe, Europe and Central Asia, North Atlantic, North-East Atlantic, Northern Europe Abstract The present Act constitutes the basic framework for fisheries management in Iceland. The Act sets up several important principles of fisheries management. Chapter 1 containing general provisions, stipulates that marine resources are the common property of Iceland (art. 1). The Act requires the Minister of Fisheries to determine a Total Allowable Catch for individual exploitable marine stocks in Icelandic waters for which it is deemed necessary to limit the catch. The Minister of Fisheries has the right to increase or decrease the Total Allowable Catches during the fishing season. Chapter II concerns fishing authorizations and catch quotas. Section 4 fixes the obligation to have a fishing permit valid for one year. Commercial fishing permits may only be granted to fishing vessels holding certificates of seaworthiness or registered in the Registry of Vessels of the Directorate of Shipping or the special registry of the Directorate for boats shorter than 6 metres in length. Full text English Website www.fisheries.is