The present Act consists of the following Parts: Preliminary (I); National Fisheries Authority (II); Management, Development and Regulation of Fishing (III); Enforcement (IV); Miscellaneous (V); Repeal (VI); Savings and Transitional (VII).
Part II concerns the establishment of the National Fishery Authority (hereinafter referred to as the "Authority"), whose functions cover, inter alia: (a) to give advice, carry out and implement policies for the development, management and use of fisheries resources; (b) to promote research; (c) to act as a state agent in relation to any International Agreement on fisheries; (d) to ensure the enforcement of the fisheries legislation and the policy approved by the National Executive Council; (e) to regulate foreign fishing and other matters related thereto. The functions and objectives of the Authority shall be carried out by the National Fisheries Board, which shall, for said purpose, establish 1) a Tuna Resources Management Committee; 2) a Major Fisheries Projects Committee; 3) an Industry Training Committee. The Act regulates the membership and rules of procedure of the above-mentioned Board and Committees under Division 2 and 3 of Part II, respectively. The Authority shall manage, develop and conserve the fisheries resources, provided that the right of customary owners of fisheries resources be fully recognised and respected. The management of fishery resources shall be performed according to the principles stated by this Act and to the Licensing Guidelines, to be drawn up by the Minister in consultation with the Authority and regarding among other matters: (a) the granting of commercial fishing licences; (b) the fishery equipment; (c) the total allowable catch and the quotas for each fish species. Moreover, the Act states the procedure for the issuance of fishing licences and prohibits certain fishing activities with regard to specified periods of time, fish species, specified size, etc. Final provisions concern offences and relevant penalties. According to Part III, Division II, Papua New Guinea may enter into an access agreement with another state or fishing association or other body of another state.