Act No. 48 on the implementation of the implementation of the Agreement on Future Co-operation Between States Regarding Fishing in the North-West Atlantic.

The present Act authorises the Government of Iceland to set rules for the implementation of the Convention on Future Multilateral Cooperation in the Northwest Atlantic Fisheries (NAFO Convention). It further sets penalties for violations of the rules set by the Government, including fines, confiscation of catch or fishing gear, imprisonment, etc.