Council Regulation (EEC) No. 101/76 laying down a common structural policy for the fishing industry.

Common rules shall be laid down for fishing in maritime waters and specific measures shall be adopted for appropriate action and the coordination of structural policies of Member States for the fishing industry to promote harmonious and balanced development of this industry within the general economy and to encourage rational use of the biological resources of the sea and of inland waters. Member States must ensure equal conditions of access to and use of the fishing grounds situated in the waters coming under their sovereignity for all fishing vessels flying the flag of a Member State and registered in the Community territory (art. 2, par. 1). Should a risk of overfishing of certain fishstocks arise in the maritime waters aforementioned, the Council shall adopt the necessary conservation measures, including restrictions to the catching of certain species as well as restrictions relating to areas, fishing seasons, methods of fishing and fishing gear (art. 4). With a view to harmonizing and properly coordinating their structural policies for the fishing industry, Member States shall transmit annually to the Commission the information required under article 5. Every year the Commission shall submit to the European Parliament and to the Council a report dealing with the structures for the fishing industry (art. 6). Article 11 establishes a Standing Committee for the Fishing Industry which shall promote the coordination of structural policies for fishing industry.