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Home»Law and Cases»Legislation»Regulation No. 1033 amending the Regulation No. 1144 on acquisition and commercial licence, registration and identification of fishing vessels.
Regulation No. 1033 amending the Regulation No. 1144 on acquisition and commercial licence, registration and identification of fishing vessels.
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This Regulation inserts Chapter (IIa) to Regulation No. 1144 with regard to the duty to notify changes in fishing vessel ownership. Transfer of shares or interests in the company or association owning a registered fishing vessel, shall be subject to notification. Requirement criteria includes a transfer which does not reduce the number of shareholding fishermen to 50% or less; that the transfer does not imply that nationality requirement for ownership pursuing article 5 of the Participation Act
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Regulation No. 1033 amending the Regulation No. 1144 on acquisition and commercial licence, registration and identification of fishing vessels.