delete Fisheries Management (Heard Island and McDonald Islands Fishery) Amendment Regulations 2005 (No. 1)
Amends the Fisheries Management (Heard Island and McDonald Islands Fishery) Regulations to modify operational requirements, catch limits, licensing arrangements, and compliance obligations for vessels operating in this external territory fishery in the southern Indian Ocean.
Fisheries management regulations of this type create barriers to entry through licensing restrictions, distort market signals via mandated catch limits, impose significant compliance costs that are amplified by the remote location of this fishery, and delegate unfettered discretion to bureaucrats regarding who may or may not participate in the fishery. Such regulations typically benefit incumbent operators at the expense of potential competitors and consumers. The stated conservation objectives could be achieved through clearly defined, pre-specified property rights (e.g., catch shares or territorial use rights) without the approval timelines, paperwork burdens, and ongoing regulatory interference that characterise this instrument. Australians would be better off with competitive markets in fisheries than with regulatory rationing of access.