Act on aquaculture.

The purpose of this Act is to create conditions for the development of aquaculture (including mariculture), thereby promoting development in the country and promoting responsible aquaculture and ensuring the protection of wildlife stocks. To this end, efforts shall be made to ensure the quality of production, prevent potential damage to wildlife stocks and their biosphere, and ensure the interests of those who use such stocks. The implementation of the Act shall always ensure that the ecosystems of wild fish stocks are least disturbed and that their sustainable exploitation is sustainable and not endangered. The Minister shall be the principal authority for the purposes of this Act, but its provisions and those of Regulations issued under the Act shall be implemented by the Icelandic Food and Veterinary Authority. For the operation of aquaculture plants, an operating license of the Environment Agency and the operating license of the Icelandic Food and Veterinary Authority is required. In case of ecological vulnerability of areas concerned a decision shall be taken, after consultation, by the responsible Minister.
The Act establishes the Marine Aquaculture Fund. The objective of the Fund is to minimize the environmental impact of marine aquaculture.