Fisheries committee  As Dan pointed out, transferability is not necessarily the problem if you have checks and balances in the rest of the structure, which we presently do not have. That would allow for offshore investors and those outside the industry to begin to capitalize on the quota structures.

Fisheries committee  Yes, there are a lot of individuals and corporations that hold quotas and are not actively fishing them. In the last two years, with the groundfish development authority that I sit on, we've heard rumours of significant foreign capital coming in to purchase quota structure, and t

Fisheries committee  That's correct.

Fisheries committee  No. You can hold quota and not be a Canadian citizen, but to actually fish, you do need to be a Canadian citizen.

Fisheries committee  Yes. It's the quota holder who has the ultimate power here. They hold the ability to hold the fish.

Fisheries committee  It's been my experience that it's usually carried out by the company you're fishing with unless you've made some prior arrangement with an individual. It's very hard to know who has quota available unless you're operating through a processing company.

Fisheries committee  Thank you, Mr. Chair. Can you hear me?

Fisheries committee  Great. I'll pick up where I left off. I was starting to discuss the individual transferable quota structure and how that's impacted communities and new entrant fishermen in attempting to get into the fishery. The ITQ structure's transferability has created a commodity out of th

Fisheries committee  My name is Modestus Nobels. I'm a retired commercial fisherman. I retired in 2007 from fishing actively. I live in the small community of Dodge Cove just outside of Prince Rupert, which was a fishing community. We built the northern fleet out of that community. Over 1,000 vessel