In June 2002, the Council adopted Amendment 10 to the CPS FMP. Relative to the limited entry (LE) fishery, the amendment established a capacity goal, provided for LE permit transferability to achieve and maintain the capacity goal, and established a process for considering new LE permits. The purpose of this action was to ensure fishing capacity in the CPS LE fishery is in balance with resource availability. Relative to market squid, Amendment 10 established an MSY (or proxy) for market squid to bring the FMP into compliance with the MSA. The purpose of this action was to minimize the likelihood of overfishing the market squid resource. On December 30, 2002, the Secretary approved Amendment 10.
Final rule ( 68 FR 3819, January 27, 2003)