Fisheries and Oceans Canada

Fisheries and Oceans Canada

March 04, 2011 18:55 ET

Minister Shea Provides Fishers With Long-term Economic Benefits

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - March 4, 2011) - Today, the Honourable Gail Shea, Minister of Fisheries and Oceans, announced changes to the licensing policy for the Atlantic Canada and Quebec inshore fishery to allow for the issuing of licences to wholly owned companies. The new policy will go into effect on April 1, 2011.

"Our Government is committed to building a foundation of economic strength for Atlantic Canada and Quebec's coastal communities by providing the inshore fleet with more flexibility in their financial dealings, while at the same time continuing to preserve the independence of individual inshore fishers," said Minister Shea.

The new policy authorizes qualified fishermen to request, on a voluntary basis, the re-issuance of their eligible licences to their wholly-owned company. The new policy on issuing licences to companies was developed following extensive consultations with industry members and with tax, legal and financial experts. It is consistent with the Government of Canada's policy on Preserving the Independence of the Inshore Fleet in Canada's Atlantic Fisheries (PIIFCAF). It supports an independent and economically viable inshore fleet, responds to the needs identified by fishers, and respects the long-standing owner-operator and fleet separation policies at the foundation of Eastern Canada's inshore fishery.

Eligibility criteria and information about the re-issuance process will be sent to independent core licence holders and are also available on the DFO website at www.dfo-mpo.gc.ca.

Backgrounder:

  • Issuance of Inshore Licences to Companies.

For broadcast:

Minister Shea today announced changes to the licensing policy for the Atlantic Canada and Quebec inshore fishery that will allow certain commercial fishing licences to be issued to companies instead of individuals. When the new policy takes effect on April 1, 2011, qualified licence holders will be able to ask for their licences to be re-issued to their wholly-owned company. This change will provide the inshore fleet with more flexibility in their financial dealings, and allow them to benefit from the advantages of incorporation that are available to other small businesses in similar industries, while at the same time continuing to preserve the independence of individual inshore fishers.

Internet: http://www.dfo-mpo.gc.ca

Contact Information

  • Fisheries and Oceans Canada
    Ottawa, Ontario
    Frank Stanek
    Media Relations
    613-990-7537
    or
    Fisheries and Oceans Canada
    Office of the Minister
    Kate Davis
    Press Secretary
    613-992-3474