Order No. 420 on subsidy for the remordernization of fishing vessels and equipment.

The Order sets rules on subsidy and investments for the modernization of fishing vessels and fishing gear in order to promote environmentally and economically sustainable fishery activities. Application for obtaining such subsidies must be submitted to the Danish Agri-Fish Agency, which is the sole responsible entity administering these operations. Subsidy may reach up to 40% of the projected investment and may be suspended in case of force majeure (Fishing vessel accidents, applicant’s death or applicant’s long-term incapacity of operation).
This Order consists of 13 Chapters: Objective of and content (1); Definitions (2); Administration (3); Remedies eligible projects (4); Conditions for the grant of subsidy (5); Change of project and committments (6); Eligible project costs (7); Subsidy calculation (8); Subsidy payout (9); Duty of notification (10); Expiration of commitment and repayment of subsidy (11); Force majeure (12); Entry into force (13).