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The purpose of this amendment is to revise the definition of a new fishing vessel to reflect the definition given in EU Directive 97/70. 'A “New fishing vessel” means a fishing vessel for which: (a) on or after 1 January 1999 the building or major conversion contract is placed; or (b) the building or major conversion contract has been placed before 1 January 1999, and which is delivered three years or more after that date; or (c) in the absence of a building contract, on or after 1 January 1999: