Act on Fishing Outside of Icelandic Jurisdiction.

This Act provides rules relative to fishing for or harvesting of marine resources (including marine mammals and marine flora) by Icelandic vessels outside waters under Icelandic jurisdiction. In case of stocks caught both within and outside Iceland’s jurisdiction or Icelandic straddling stocks, the provisions of the Act on Fisheries Management shall apply as appropriate.
This Act, among other things: regulates fishing having regard to the Total Allowable Catch; defines powers of the Minister to allocate catch quotas for single vessels; grants powers to the Minister to provide for closure of fishing areas and other measures that may be necessary to ensure protection of juvenile fish and responsible fishing; provides for surveillance and enforcement; allow Icelandic authorities to take measures regarding fishing by foreign vessels on the high seas which are necessary to enforce agreements to which Iceland is a party and defines offences, also in relation with illegal fishing activities.