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In this arrangement, scientists set acceptable catch levels, and other authorities allocate shares, species by species, region by region.
The MSC system means that those who flout scientific advice on sustainable catch levels will be penalised.
The "spillover effect", as fish migrate out of large marine reserves, greatly boosts the overall catch levels.
Catch levels for 2019 will be decided in December, while the UK is still a member of the EU.
The House of Commons also lambasted the federal Department of Fisheries and Oceans (DFO) for poor scientific data, and for failing to enforce catch levels.
National controls on fleets and harbours are so patchy that the EU's Court of Auditors said in 2007 that real catch levels were "unknown".
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In concrete terms, the measures Wednesday require that by 2015, all European quotas be set at the optimal catch level, known as maximum sustainable yield.
This year the European Union and Norway have declared they will take about 90 percent of the catch level that scientists say is sustainable; Iceland and the Faroes have served notice that they will not settle for the remaining 10 percent.
Earlier this year, Iccat's scientific advisers said continuing at this year's catch level of 13,500 tonnes was feasible but only carried about a 60% chance of rebuilding stocks by 2022.
"The actual catch level will be around 11,000, which is a large reduction from current levels," the head of the Japanese delegation, Masanori Miyahara, said, adding that some members had promised not to use up their quotas.
The marine fisheries catch levelled off during the 1990s.
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