Validity of fishing licences

(1) Unless earlier cancelled in accordance with provisions of this Act, a fishing licence (a) is valid for such period as may be specified in the licence; (b) may be issued for a maximum period of three years; and (c) shall expire on December 31st of the final year of its validity. (2) Where a vessel licenced as a local fishing vessel becomes a foreign fishing vessel, the licence automatically ceases to be valid. (3) A fishing licence is valid only for the fisheries or areas that have been specified in the licence. (4) No fishing licence is transferable.