Recommendation 1

5.18

The committee recommends that the Australian Government reviews the Fisheries Management Act 1991, and associated regulations and guidelines, to ensure that their aims align with the objective that fisheries are managed sustainably and in a way that maximises economic and social returns to the Australian community. The review should consider:

the adequacy of current cost recovery fees and licencing charges;

whether maximum economic yield (MEY) remains the preferred measure for setting total allowable catches (TACs);

employment outcomes of the quota system and whether these align with government and community priorities;

the performance of modified quota systems and royalty schemes that have been implemented in international jurisdictions, and their applicability in Commonwealth fisheries; and

how the current resource sharing model can incorporate recreational and customary fishing into the fisheries management framework.

Recommendation 2

5.19

The committee recommends that the Australian Government builds on its establishment of the Commonwealth fisheries resources sharing framework to make publicly owned quota available for small and lease fishers, community and First Nations fishers, and other stakeholder groups.

Recommendation 3

5.27

The committee recommends that the Australian Fisheries Management Authority increases the transparency of quota holdings by:

improving the format and readability of current registers to more clearly identify quota holders;

improving communication with industry around existing registers; and

developing a more robust register of quota for sale, or a trading platform, to better connect sellers with potential buyers.

Recommendation 4

5.28

The committee recommends that the Department of the Treasury works across government portfolios and agencies to ensure that there is transparency about the actual level of foreign ownership of Commonwealth fisheries quota.

Recommendation 5

5.29

The committee recommends that the Australian Government asks the Australian Competition and Consumer Commission to inquire into current competition issues in the fisheries quota system.

Recommendation 6

5.30

The committee recommends that the Australian Government asks the Regional Investment Corporation to establish a loan facility for small and lease fishers to assist with the purchase of quota, vessels and equipment in Commonwealth-managed fisheries.

Recommendation 7

5.37

The committee recommends that the Australian Government undertakes an independent stock assessment of the Spanish Mackerel fishery.

5.38

5.39

5.40

5.41

5.42

5.43

List of recommendations