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1. Banking and borrowing of quota
This is a quota management flexibility which will only be available to quota managers. It is not available at vessel level.
This flexibility permits the banking and borrowing of up to 10% of the quota of stocks subject to the landing obligation to help vessels. Defra is working with quota managers and devolved administrations to implement a simplified banking and borrowing system.
Rules for the banking and borrowing of stocks will be included within the Quota Management Rules for 2016. These are currently the subject of industry consultation. The finalised QMR rules will be published in January 2016.
2. Interspecies Flexibility
This is a quota management flexibility which will only be available to quota managers. It is not available at vessel level. Interspecies Flexibility (ISF) allows the conversion of one stock to another to allow a vessel to continue to fish when it has run out of quota for a stock.
The Common Fisheries Policy regulation limits the use of ISF to a last resort: only once all other quota management tools have been exhausted.
The UK has taken part in a Member State workshop to help refine the parameters and principles against which ISF may operate. Agreeing a set of unified principles between Member States will help to ensure that the use of ISF does not negatively impact the health of the stocks thereby impacting quotas in future years.
Defra will continue to work with industry, devolved administrations and other Member States with great priority to ensure we implement a workable and sustainable system which provides our fishermen with the flexibility they need, when they need it, as well as guaranteeing the fishery for future years.