Regulation No. 470/2012 on fishing for halibut.

This Regulation, issued by the Ministry of Fisheries and Agriculture, lays down rules on fishing for halibut. It prohibits direct fishing for halibut in Iceland's fishing territory, including fishing with specially prepared hooks (hawk lures), with the exceptions laid down in this Regulation. Fishing authorisation may be given each fishing year based on the advice of the Marine and Freshwater Research Institute that the halibut population can withstand fishing. If halibut comes on board a fishing vessel as bycatch, viable halibut shall be released immediately. The captain is of the fishing vessel is obliged to keep a catch log, where information such as fishing gear, fishing location and fishing day, as well as the halibut released in each cast/line/pull shall be recorded.