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 Europe, 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 th Full text English Website www.fisheries.is