MercoPress. South Atlantic News Agency
Argentina: FFC approves new ITQ Bill
The Federal Fisheries Council (FFC) has unanimously approved the Individual Transferable Quotas (ITQs) Specific Scheme Bill for common hake (Merluccius hubbsi).
The draft of the ITQ scheme establishes management guidelines for hake resources. For example, Article 6 states: "Individuals, legal entities or business groups cannot accumulate ITQs for a species above 10 per cent of the Total Admissible Catch (TAC)." It adds that if this occurs: "The stakeholder should refrain from using his quota surplus and communicate to the Application Authority the quota adaptation to the limits here stipulated."
In Article 7, the initial quota allocation percentages are established, adding that to ensure compliance with initial ITQ allocations, the percentages of the limits anticipated in Article 27 of Law 24.922 are as follows:
·Domestic labour force and legal catches ? 80 per cent - ·Investments ? 15 per cent - ·Processing production ? four per cent ·Fines ? one per cent Decisions regarding labour force and legal catch percentages are awaiting FFC results, which anticipates it will soon have its databases ready to make the initial allocation.
The full Spanish text of the bill is available at http://www.cfp.gov.ar/actas/AnexolActaCFP25-01.htm
Source: FIS
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