The aim of the scheme is to compensate owners of fishing capacity for voluntarily returning their off-register capacity (i.e. capacity held in the owner’s account but not assigned to a vessel). The scheme will run until 31 December 2023.
Under the scheme, the aid will be granted to Irish-registered capacity owners holding off-registered capacity in the form of direct grants to compensate them for returning their off-register capacity to the Irish Sea Fisheries Board. The aid amount will be calculated on the basis of the market value of the off-register capacity returned. Under the scheme, the returned off-register capacity will be permanently withdrawn.
