PEI Atlantic Shrimp Corp Inc

PEI Atlantic Shrimp Corp Inc

PEI Atlantic Shrimp Corp Inc

Guiding Principles

PEI Atlantic Shrimp Corp Inc

PEI Atlantic Shrimp Corp Inc

On the announcement of the PEI allocation in 2000, DFO stated that the benefits from this allocation would go to the PEI fishery as a whole and provided a set of principles for the management of the allocation. The principles set out by DFO stated:

  • Allocations: The allocation of the 1500 metric tonnes was for the three year period 2000-2002. Allocations for subsequent years would depend on stock levels.
     
  • Board of Directors:  This corporate entity was to have three persons nominated by the P.E.I. Seafood Processors Association; three persons nominated from the P.E.I. Council of Professional Fish Harvesters; one person nominated by the Government of Prince Edward Island; one person nominated by the University of Prince Edward Island; and an independent chairman from the Community at large.
     
  • Benefits: The benefits from the allocation are to be directed at lobster research; product and market development and research; and the development and maintenance of the harvesting sector in PEI, with the priority given to professionalization of fish harvesters in PEI.
     
  • Revenue Distribution:  The corporate entity was to direct the greater of $150,000 or 20% of the revenues received annually to the Lobster Science Center at the University of Prince Edward Island;  2/3 of the remaining funds to support processor activities; and 1/3 of the remaining funds to harvester activities.
     
  • Reporting: The corporate entity was to submit an annual report of operations to DFO along with a business plan for the subsequent year.
     
  • Harvesting:  The harvest of the allocation was to utilize existing Canadian licensed vessels.

 

 

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PEI Atlantic Shrimp Corp. Inc   P.O. Box 219, Winsloe, PE  C1E 1Z2   Canada

Copyright PEI Atlantic Shrimp Corp Inc 2004  | All rights reserved.