(1) "Sweep-ups" and vessel category
"swaps" are discussed briefly in Chapter 2. "Sweep-ups" of small QS blocks are covered in
detail in Chapter 8. "Swaps" of CDQ compensation QS across catcher vessel categories are
covered in detail in Chapter 7. (2) See 50
CFR 679.42(g). (3) See 50 CFR
679.41(g); "IFQ crew" are defined in 50 CFR 679.2. (4) See 50 CFR 679.42 (j) and CFR 679.41
(g)(3). (5) In June, 1996 the Council
approved an amendment that increased the combined total ownership caps in Areas 4A, 4B,
4C, 4D, and 4E from 0.5% to 1.5%. These percentages were then applied to the QS pool as
it stood in 1996 to establish a permanent amount of QS that would be used as an ownership
from year-to-year. The final rule for this amendment became effective March 24, 1997. See
50 CFR 679.42(f). (6) See 50 CFR
679.40(a)(1). The 20,000 pounds is actually a hypothetical IFQ based on 1994 TACs and
the amount of QS outstanding on October 17, 1994. The halibut QS equivalent calculated for
this blocking limit will be worth different amounts of IFQ from year-to-year as TACs and the QS
outstanding change. (7) The original sweep-
up limit was 1,000 pounds. In April 1996 the Council approved an amendment that
increased the sweep-up limit to 3,000 pounds. This regulation is now incorporated into 50
CFR 679.41 (e)(3). The 3,000 pounds of hypothetical IFQ was based upon 1996 TACs for
and area and the QS pool as of January 31, 1996. The regulation translates the rule into a
specific amount of QS units for each halibut area. This amendment became effective in
December 1996. (8) The CDQ regulations
are contained in 50 CFR 679.30 and 50 CFR 679.31(b) and(c). The provisions for CDQ
compensation are contained in 50 CFR 679.41(j). (9)
IFQ from swappable CDQ compensation QS can be fished from any catcher
vessel category, or it can be permanently "swapped" to another catcher vessel category upon
the first transfer. See 50 CFR 679.41(i). Catcher vessel IFQ can be fished from a freezer
vessel as long as there is no frozen or processed product on board when the catcher vessel
IFQ is used. (10) See CFR 679.40 (5)(ii)
and 679.42 (a) (11) IFQ from swappable
catcher vessel CDQ compensation QS can be fished from any catcher vessel category and can
be permanently "swapped" to another catcher vessel category upon the first transfer. Catcher
vessel IFQ can be fished from a freezer vessel as long as there is no frozen or processed
product on board when the catcher vessel IFQ is used. See 679.41 (i).
On August 16, 1996 the QS "buydown" rule became effective. It allows catcher
vessel QS to be used on vessels of the same size class or smaller. In Area 2C, buydown of
category B (60 ft. or over) QS is allowed only for blocks less than 5,000 lbs., based upon
1996 TACs. See CFR 679.40 (5)(ii) and 679.42 (a). (12) In June, 1996 the NPFMC approved an
amendment that increased the combined total ownership caps in Areas 4A, 4B, 4C, and 4E
from 0.5% to 1.5%. This percentage was then applied to the QS pool as it stood in 1996 to
establish a permanent amount of QS that would be used as ownership caps from year-to-year.
The final rule for this amendment became effective March 24, 1997. See 50 CFR 679.42(f).