Act regarding fisheries within the Fisheries Jurisdiction of Iceland.

The purpose of this Act is to promote the increase and maximum utilisation of fish stocks in Icelandic jurisdiction (not defined) (art. 1). Article 2 prohibits fishing by foreign fishing vessels in accordance with Regulation No. 299 of 1975. No fishing with bottom trawl, midwater trawl and seine net within the Icelandic waters without a special permit is granted by the Minister in accordance with provisions of this Act. The Minister may also divide water's into fishing areas and prescribe the kind of gear that may be used in that area for a specified period (art. 5). Other powers of the Minister include: to impose a ban on all trawling and other fishing in specified areas (art. 6), to grant permits for experimental fishing (art. 15), and issue rules regarding types of gear to be used, net and mesh size, size of fish, and other matters pertaining to the application sphere of this Act (art. 12). Article 8 provides for inspection of fishing activities, whereas articles 17 to 22 prescribe offences and penalties.