This Act sets the rules for calculating the “share value” of fish catches used for crew share payments, catch bonuses, and related remuneration in Icelandic fisheries. It specifies different percentage formulas depending on how the catch is sold or processed: unprocessed fish sold in Iceland, fresh fish sold in foreign ports, boxed iced fish transported abroad, and fish or shrimp frozen on board. The percentages are linked in some cases to fuel-price adjustments, and the Act authorises the minister to issue more detailed implementing rules.
Iceland · 1986-05-07