Regulation No. 11 on fisheries under the System of Individual Transferable Quotas (the ITQ Regulation).

This Regulation of the Government of Greenland establishes the framework for fisheries in Greenland under the system of individual transferable quotas (ITQs), established in Chapter 7 of the Fisheries Act (No. 29 of 2024). It applies to shrimp, halibut (offshore and coastal in defined areas), and crab fisheries, outlining the rules for allocating and calculating quota shares based on past fishing activity. Different methods are set for each fishery and area, with special provisions to allow new entrants and maintain a minimum share for "Olympic" fisheries (non-ITQ coastal fishing). Limits are also introduced on how much of the total allowable catch (TAC) an individual actor can hold, ensuring no single operator accumulates excessive control. Quota shares can be transferred through a designated online portal, and unallocated or repossessed shares are auctioned by the government.
The regulation further sets obligations for quota holders, including minimum utilization requirements, limited flexibility to transfer or borrow quotas across years, and restrictions to prevent concentration. Failure to comply can lead to license withdrawal or fines, with cases handled by the Greenland courts. Administrative procedures for auctions, forced transfers, and enforcement are detailed, along with conditions for maintaining transparency and fairness.