6.2(d) Investment in Purse Seine Vessels Not in Compliance with ISSF Conservation Measures 6.1 and 6.2(a)

Processors, traders, importers, transporters, marketers and others involved in the seafood industry that are investors in any new vessel that does not meet all of the conditions in ISSF Conservation Measures 6.1 and 6.2(a) shall buy out and scrap existing capacity of large-scale tuna purse seine vessel(s) that corresponds to the full capacity of the new vessel, in accordance with Paragraph 2(d) of ISSF Conservation Measure 6.2(a).

1. For the purposes of this measure, “new vessels” includes vessels owned, partially or fully:

1. directly or indirectly (through intermediary entities) by any ISSF Participating Company, which shall mean the ISSA Member and its affiliates, including all commonly controlled business organizations, or
2. directly or indirectly by any individuals who hold controlling interests of any ISSF Participating Company as defined in section (1) of this Conservation Measure.  Individuals shall include any natural person and his or her family members (including spouse, domestic partner, child, sibling, parent or grandparent, whether natural, adopted or by marriage).

2. In auditing this measure, the only possible findings will be either “fully compliant” or “major non-conformance.”

3. For the purposes of this measure, large-scale purse seine vessels are those with at least 335 m³ fish hold volume.