The purpose of this scheme is to minimise the risk to the voluntary decommissioning scheme from re-entry of vessels after decommissioning by buying out a proportion of off-register capacity in the under 18m and over 18 polyvalent fleet.
Who is Eligible
This scheme is open to owners of polyvalent off-capacity (excluding Polyvalent Potting), that have not lost their entitlement as per Policy Directive 2/2003 and have not received capacity through the “Lost at Sea” scheme.
The capacity to be withdrawn must, at the time of application, be confirmed as being off-register by the Licensing Authority for Sea-fishing Vessels.
Buy-out premiums will be paid in respect of applications approved and accepted at the following rates:
Polyvalent vessels equal to or over 18m in length overall where the current market value of capacity is €2,800/GT & €850/kW; and
Polyvalent vessels under 18m in length overall where the current market value of capacity is €2,200/GT & €825/kW
The maximum payment to any applicant will be capped at €250,000.
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