Joint Order No. 502/282/90n of the Ministry of Agriculture, of the Ministry of Economic Development and Trade and of the Ministry of Finance regarding the organization and carrying out the auction sale of the shares of quotas for catch (harvest) of aquatic biological resources.

The present Regulation sets the terms and conditions for carrying out the auction sale of the shares of quotas for catch (harvest) of aquatic biological resources once again authorized for industrial use and for catch (harvest) of aquatic biological resources in new fishing areas. Federal Fisheries Agency is the authorized institution entitled with the task of organizing and carrying out the auction sale. Federal Fisheries Agency shall set up the Commission for sale of the shares of quotas. Natural and legal persons, nationals and foreigners authorized to carry out fisheries in conformity with the legislation currently in force shall be authorized to take part in the auction sale of quotas. Auction sale can be of the open type and of the closed type. Shares of quotas for catch (harvest) of aquatic biological resources for industrial purposes in the continental shelf and in the EEZ of the Russian Federation shall be sold at open auction sale. Shares of quotas for catch (harvest) of aquatic biological resources for industrial purposes in conformity with the total allowable catch validated by the Government of the Russian Federation for coastal fisheries distributed among the RF subjects shall be sold at closed auction sale. The applicants registered on the territory of a RF subject which share of total allowable catch is destined for auction sale can take part therein. Other restrictions regarding the composition of the participants in the auction sale shall not be allowed.