The Falkland Islands Government operates a system of Internal Transferable Quota (ITQ). Under this system quota is allocated by the Falkland Islands Fisheries Department to locally owned fishing companies for periods up to 25 years.
Quota levels are decided year-to-year based on annual stock assessments conducted by the Fisheries Department and are subject to a range of harvest control rules that ensure long-term sustainability of the fishery.
CFL is the sole quota holder for toothfish in the Falkland Islands zone. The secure access to the resource arising out of the ITQ system gives the company excellent incentive to protect and ensure the long-term sustainability of toothfish in the Falklands and was a major driver in CFL seeking MSC Certification of the fishery. This was achieved in 2014 as a result of close co-operation between CFL and the Fisheries Department.