Regulation No. 100/2022 on the Aquaculture Fund.

This Regulation establishes Fiskeldissjóður, a public Aquaculture Fund linked to fees from marine fish farming, whose purpose is to support infrastructure and public services in municipalities where sea-cage aquaculture is carried out. The fund is administered under a three-member board appointed by the minister, which is responsible for annual accounts, calls for municipal grant applications, assessment and prioritisation of projects, allocation decisions, and follow-up. Grants are intended for infrastructure and service projects, normally awarded for one year, based on criteria such as local need and feasibility; applications must include implementation and cost plans, and funding is paid in two instalments, with 50% paid after the grant agreement and the remainder after completion or verified progress. The regulation also provides rules on publication of grant information, monitoring, non-transferability of grants without permission, consequences of breach including suspension, cancellation or repayment, and states that disputes are heard before the District Court of Reykjavík.