In order to carry out any fishing, aquaculture, related activities or activities related to fishing in the area of compatibility with the operation of the Panama Canal, in additional to the corresponding authorization, permit or license issued by the Authority, a compatibility permit issued by the Board of Directors of the Panama Canal Authority is required, as provided in Law 19 of 1997 and Law 21 of 1997. Likewise, in addition to the corresponding authorization, permit or license issued by the Authority, prior approval by the Panama Canal Authority, as the competent entity to carry out any fishing, aquaculture, related activities or activities related to fishing in the Panama Canal Watershed area, is required for the performance of any fishing, aquaculture, related activities or activities related to fishing in the Panama Canal Watershed area, in addition to the corresponding authorization, permit or license issued by the Authority, prior approval by the Panama Canal Authority, as the competent entity to carry out such activities. The Panama Canal Authority, as the competent entity for the administration, use, maintenance and conservation of the water resources of this area, as provided in Title XIV of the Political Constitution of the Republic and Law 19 of 1997. In both cases, the Authority shall always establish prior coordination with the Panama Canal Authority.

The Authority shall adopt all those conservation, management and control measures necessary to prevent, combat, deter and eliminate illegal, unreported and unregulated (IUU) fishing, and may regulate those measures that are not expressly contemplated in this Law, in accordance with international agreements, conventions and treaties. No fishing license shall be granted to vessels that are on an IUU list of any regional fisheries management organization.

Any natural or juridical person interested in nationalizing, registering, constructing or modifying the characteristics of a vessel to engage in fishing, related activities or activities related to fishing, with the exception of those used for domestic consumption fishing and sport fishing, must have a no objection issued by the Authority, after coordination with the Panama Maritime Authority. For the issuance of the no objection, the Authority will make a prior evaluation of the compliance history of the vessel and the licensee, as well as their capacity to comply with the applicable measures. In the case of catcher fishing licenses, the Authority shall act in accordance with the allocated fishing possibilities and conservation rules of the corresponding regional fisheries management organization.

Every vessel, with the exception of those engaged in fishing for domestic consumption, must have a license authorizing fishing, related activities or activities related to fishing. Said license shall cause a fee in favor of the Authority to be charged in accordance with the rate established by regulation. The Authority shall determine the procedure and requirements for the granting, the validity and the grounds for suspension. and the grounds for suspension and cancellation of the licenses.

The Authority shall establish a licensing regime that ensures that no vessel is allowed to fish, unless so authorized consistent with this Law, and the sustainability of aquatic resources, including, among others, the appropriate scope for the license including conditions for the protection of marine ecosystems; prior assessment of the compliance history of the vessel and the licensee, as well as their ability to comply with applicable measures; minimum information obligations in the license allowing the identification of vessels and responsible persons. The fishing licenses established in the present Law shall be granted without prejudice to the regulations issued by the Panama Maritime Authority for the navigation of vessels.

Licenses are not transferable from one vessel to another, or from one person to another, and may not be alienated, leased, or constitute any title or encumbrance or right for the benefit of third parties.

In the event of total loss of a vessel with a fishing license, whether due to an act of God or force majeure, the holder of such license shall have the right to the granting of a new license for another vessel with similar characteristics or particularities and which exerts a fishing effort no greater than that previously granted. The Authority shall regulate this matter.

The following shall constitute grounds for ex officio cancellation of the vessel's registration: 1. The execution of acts that affect the national interests. 2. Serious non-compliance with the legal regulations in force in Panama or with maritime safety regulations, pollution prevention, maritime protection or international conventions ratified by the Republic of Panama. 3. The expiration of the provisional navigation patent or the regulatory patent without it having been renewed within a term of five years, counted as of the expiration date, unless the reasons for which the request for renewal was not filed in due time have been substantiated. 4. The use of the vessel for smuggling, illicit or clandestine trade, piracy or for the commission of other crimes. 5. The presentation of forged or altered documents. 6. Abandonment of the vessel. 7. The registration of the vessel in any other registry, except in the special charter registries, in accordance with the formalities in accordance with the formalities provided for in this Law. 8. The total loss of the vessel. 9. The high incidence of detentions due to serious or recurrent deficiencies detrimental to maritime safety. maritime safety. 10. Other cases established by law and international law.