Fishery Industry Development Decree of 1972

Fully developed fishpond: leveled, dike-enclosed ponds with nursery, transition, rearing ponds and water control
Fish and fishery products: fish and aquatic animals including crustaceans, mollusks, shellfish, in all forms
Refrigerating and cold storage plants: facilities for ice making, freezing, and storing fish
Fishery industry: encompasses production, processing, preservation, marketing, and distribution
Commercial fishing: fishing in waters deeper than seven fathoms using boats over three gross tons
Municipal/sustenance fishing: small scale fishing using boats three gross tons or less or gears not requiring boats
Economic family size fishpond: sufficient size to sustain family income and basic needs
Commercial scale fishpond: production not less than 500 kg per hectare annually

Council created to implement policy, composed of government officials from Agriculture, National Defense, banking, and representatives from fishpond and fishing associations
Meets monthly with special meetings as needed
Adopts procedural rules and determines official location

Provides policy guidance and coordinates fishery development activities
Encourages cost reduction and quality improvement
Promotes infrastructure and modernization of fishing fleet
Protects fish habitats and marine parks from pollution
Develops financial programs and insurance systems
Adopts and implements Fishery Industry Development Program within 90 days of constitution
Authorized to enter contracts necessary to achieve program objectives

Department of Agriculture and Natural Resources: directs fishery development, manages transfer of public lands for fishponds
Bureau of Fisheries: executes program, issues regulations, licenses fishing vessels, grants leases and concessions, promotes training and research, manages fishery districts and cooperatives, conducts inspections and quality control, establishes fishmeal industry
Development Bank of the Philippines: finances fishery corporations and cooperatives
Central Bank: coordinates credit policies, grants preferential rediscounting and interest rates
Secretary of National Defense: provides enforcement assistance
Private Sector: responsible for accelerating development, research cooperation, data sharing, and technical manpower training

Fishery schools coordinate with Bureau of Fisheries for training technicians and volunteers
One semester on-the-job training required for fishery students
Annual appropriations dedicated to training vessels and operational expenses

Only Philippine citizens or corporations with at least 60% Filipino ownership may engage in fishery business activities

All government entities and local governments must assist and provide technical support to Council and implementing agencies

Established fund, held in trust by Central Bank, financed by lease rentals, permits, and fees related to fishponds and commercial fishing boats
Fund proceeds invested and used exclusively for fishery industry development upon Council's allocation

Banks mandated to provide loans for fishpond construction, fishing boats, production, processing and marketing
Loans extended under supervised credit
Veterans' fishery projects given priority financing by Philippine Veterans Bank

Existing lease agreements maintained; undeveloped areas revert to public domain
New leases subject to development conditions and size limits (individuals max 50 hectares; corporations max 500 hectares; certain canneries max 1000 hectares)
No subleasing allowed
Two-year exemption from lease rental for new leases

Public lands subdivided into family size fishponds for landless poor families, fisheries graduates, and veterans
Loans of P5,000 per hectare provided without collateral
Beneficiaries required to form cooperatives or associations
Initial appropriations for program financing set aside

Cooperative members eligible for supervised credit loans for boats, engines, and paraphernalia

Violations punishable by fines up to P5,000 or imprisonment up to five years, or both
Director of Fisheries empowered to impose administrative fines and cancel permits
Law enforcement agents empowered to impound fishing vessels and equipment pending case resolution
Obstruction of authorized inspections subject to fines up to P2,000 or imprisonment up to two years