Protocol laying down the conditions relating to temporary joint ventures and joint enterprises provided for in the Agreement on fisheries relations between the European Community and the Republic of Lithuania.

This Protocol regards the creation of temporary joint venture with the aim of jointly fishing and exploiting Lithuanian fishing quotas, and to creation of joint enterprises. The Parties shall exchange information on the projects presented for the formation of temporary joint ventures and joint enterprises according to Article 2 of this Protocol which are liable to receive financial assistance from the Community. The projects shall be presented to the Community via the competent authorities of the Member State. The Community shall submit to the Joint Committee the list of projects eligible for financial assistance as provided for in Articles 4 and 5 of this Protocol. The Lithuanian authority shall promptly transfer and issue a fishing licence. For temporary joint ventures, the fishing licences shall be issued for a period of validity equal to the duration of the temporary joint venture. All Community vessels shall forward to the Lithuanian authority a catch declaration. (3 articles 5 Annexes)