Palau Arrangement for the Management of the Western Pacific Purse Seine Fishery.

Provisions of this Arrangement shall apply to all species of tuna and tuna-like species, taken by purse seine vessels in the Area (art. 2). Area means the Purse Seine Fisheries Management Area including EEZ's or Fisheries Zones of the Parties and adjacent high seas areas in the Western Pacific (art. 1). The Parties will meet once a year for the purpose of reviewing the current status of tuna stocks and to establish necessary measures for their management and conservation (the "Management Meeting") (art. 3). The decisions of the Management Meeting shall be reached by consensus and will be binding on the Parties (art. 4). Articles and 6 make provision for an order of priority and allocation criteria with respect to licences for purse seine vessels. Licences will not exceed the limits set out in Annex 1. Additional licences require an extra fee. The Director of the FFA shall assist the Parties in implementing the provisions of this Agreement. The Arrangement consists of 11 articles.