The TACC for each fishery is split into 100 million quota shares. A
number of these shares are given to each of the companies that have
permits to fish in that fishery.
These quota shares:
If a fisher catches fewer fish than their ACE allows them, they can
sell their extra ACE. If a fisher catches more fish than their ACE
allows, they can buy more, if there is any available. If they don’t buy
more ACE, they must pay a Deemed Value for every tonne of fish that they
catch over their ACE. A Deemed Value is like a fine.
Commercial fishers must report their catches to MFish every month.
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