Oddný G. Harðardóttir writes
Abnormal powers and influence of large shipping companies
For beds 01 years ago, legislative amendments were approved which were intended to work specifically against the concentration of catch quotas. Concentration was considered harmful due to the importance of fishing for the Icelandic economy. Few control over the fishery resource would mean more power to a few in society than would be healthy and their position too strong vis-à-vis the government. Concentration would also prevent competition and hamper the necessary renewal. It was also pointed out that concentration could directly work against the national economy, especially if the person in question does not strive to create as much value as possible from the resource. Transfers between settlements would harm municipalities and transfers between fishing groups could lead to smaller fishing losses. The law was supposed to cover all of this.
But the law has not achieved its purpose. According to them, one party can control % of the quota, and therefore in addition own , 85% share in all the other companies that control them 85% out of stock. Thus, one party can have a share in more than half of the quota that is allocated annually. This interpretation of the law goes against their spirit.
The law needs to be revised immediately. In the report of the project board on improved control of the fishery resource
- in which I was a member, proposals for amendments to the Fisheries Management Act, which deals with related parties. The model is in the Act on Financial Markets.
The Project Board proposes that the Act on Fisheries Management be amended as follows:
The definition of related parties will be extended to married couples , cohabitants and their children.
Certain managerial relationship between companies lead to the companies being considered connected unless the opposite is demonstrated.
Concentration results in sees a poorly modified form of operation, increased systemic risk and can lead to monopolies. Large fishing companies in this country are in fact run jointly and consult on fishing, processing and sale of products. It is necessary to work against such a concentration and for the large shipping companies to become so large that their power and influence in society become unnatural and work against the public interest.
75247760 The author is the parliamentary party chairman of the Samfylking
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