Act on Fishing in Iceland's Exclusive Fishing Zone.

This Act provides rules relative to fishing in the exclusive economic zone (EEZ) of Iceland as defined by Act No. 41 of 1979.
For the purposes of this Act, commercial stocks shall include all those marine animals, as well as marine vegetation, which are presently utilized or may eventually be utilized within Iceland's exclusive fishing zone and are not covered by specific legislation.
Only Icelandic vessels holding a valid licence in accordance with Fisheries Management Act may carry out fishing in the EEZ. The prohibition to fish in the EEZ by foreign vessels shall not restrict rights which have been or may eventually be granted to other states pursuant to international agreements.
The Act, among other things: restricts the use of bottom trawl, pelagic trawl and Danish seine by Icelandic vessels in the EEZ; makes fishing for Lumpfish subject to special permits from the Directorate of Fisheries; requires the Minister take the necessary measures to prevent fishing practices which can be regarded as harmful to the efficient utilization of the commercial stocks and grants certain powers to the Minister to regulate fishing; provides with respect to temporary closures and use of fishing gear; provides measures of enforcement; and defines offences, also in respect to ilegal fishing activities.