(1) "Sweep-ups" and catcher vessel
category "swaps" were 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). (4) See 50 CFR
679.42 (j) and 50 CFR 679.41 (g)(3). (5)
See 50 CFR 679.42 (e). (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 sablefish 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 3,000 pounds. In April 1996 the Council approved an amendment that
increased the sweep-up limit to 5,000 pounds. This regulation is now incorporated into 50
CFR 679.41e. The 5,000 pounds of hypothetical IFQ was based upon 1996 TACs and the
QS pool as of January 31, 1996. The regulation translates the rule into a specific amount of
QS units for each management area and 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 QS can be used on a vessel capable of processing product
provided there is no frozen or processed product onboard. (10) See 50 CFR 679.40(a)(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 vessel capable of freezing provided there is no frozen or processed product on board.
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 the 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 679.40(a)(5)(ii) and 679.42(a). (12) See 50 CFR 679.42 (e).