The purpose of the Lost at Sea Scheme was to enable qualifying applicants, who were otherwise unable to do so for financial or related reasons, to provide replacement capacity for the purposes of introducing a replacement vessel in respect of fishing boats lost at sea between 1980 and the establishment of the fishing boat register in 1990, in order to continue a family tradition of sea-fishing.
The terms of the Lost at Sea Scheme have always required and continue to require that the non-tradable (i.e. cannot be sold or realised as a financial asset in the tonnage market) capacity granted under the scheme must be used for the purposes of introducing a replacement boat for the lost vessel, which is owned and skippered by the applicant or by an immediate relation of the applicant. These terms were accepted in writing by all the applicants approved under the scheme.
The Sea Fisheries Protection Authority, established under the provisions of the Sea Fisheries and Maritime Jurisdiction Act 2006, is Ireland's competent independent authority for Seafood Safety and Sea-Fisheries Protection and has responsibility for the continuous monitoring, control and enforcement of sea fisheries regulations. Any questions in relation to the monitoring, control or enforcement should be referred directly to the Sea Fisheries Protection Authority.