Operations of Freshwater Fisheries Associations

Freshwater Fisheries Associations must keep a register called a dividend register. The dividend register shows how the catch or proceeds from fishing are divided among those who hold fishing rights. Those who hold fishing rights can be individuals, companies or owners of properties at waters within the Freshwater Fisheries Associations area. The dividend register must comply with Article 41 of the Act on Salmon and Trout Fishing.

Creating a dividend register

When preparing a dividend register, the following factors shall be taken into account:

• The facilities for net fishing and angling.

• The length of shoreline of respective fishing river or lake, water volume and the size of the waterbed.

• Spawning and rearing conditions for fish.

Approval of a dividend register

The following rules apply to the approval of a dividend register:

• A general meeting must be lawfully convened.

• The notice of the meeting must clearly state that the dividend register will be discussed.

• For a dividend register to be considered approved, it requires a 2/3 majority of the votes of all members with voting rights.

• If attendance at the meeting is insufficient, another meeting must be called, and then decision is reached by a majority voting.

• If a dividend register is not approved, the board of the freshwater fisheries association must request an assessment in accordance with Chapter VII of the Act on Salmon and Trout Fishing.

Members' right to assessment and review

• All members have the right to demand an assessment of the dividend register.

• A demand for an assessment must be made within two months of the meeting where the dividend register was approved.

• In accordance with a decision of a general meeting or the board, as well as by individual members, a freshwater fisheries association is permitted to demand a review of the dividend register eight years after it comes into force.

Confirmation and entry into force

If the formal requirements have been met:

• The Directorate of Fisheries will then confirm the dividend register.

• The dividend register is then published in section B of the Official Journal (Stjórnartíðindi) once the appeal period has expired.

• The dividend register comes into force two months after it is published.