Regulations for Fishing Vessels Conducting Saury Fishery in North Pacific Ocean Article 12-7

In the event that the following requirements are met, the available quota of a saury fishing vessel may be transferred to other saury fishing vessel(s), through the coordination of the Squid and Saury Association, which reports to the competent authority for approval:(1) The transferring fishing vessel has operated in the north Pacific Ocean for saury fishing operations for 45 days.(2) The quota of the receiving fishing vessel shall not exceed the maximum annual available quota per vessel announced pursuant to Article 12-2, paragraph 1 after the transfer.(3) Any punishment pursuant to Article 35, 36, or 40 of the Act has not been imposed on both the transferring and receiving fishing vessels in the current year.(4) In case that a fine or the suspension of the fishing license has been imposed in the current year on the transferring or receiving fishing vessel pursuant to Article 41 of the Act, such punishment has been paid or executed completely.