Notice and Acknowledgement System

Fisheries and Oceans Canada has developed a Notice and Acknowledgement System to help address concerns from the fishing and financial service industries around managing access to capital.

The System is a way for licence holders and financial lenders to voluntarily register a loan with DFO. Once loans are registered, information around which licences have been used as collateral is kept on file and is referenced whenever a licence holder requests a transaction that could reduce collateral value. This benefits both lenders by preventing licence holders from taking unilateral actions that could decrease the value of collateral and the lender’s investment and benefits licence holders by facilitating their access to capital.

Who can use this system

The System is open to all lenders who wish to offer financing to current or prospective licence holders (i.e. individuals or companies) in Atlantic Canada and Quebec, and current or prospective licence holders (i.e. individuals or companies) or vessel owners who hold a vessel based licence in the Pacific Region. Lenders may be either recognized financial institutions or non-recognized financial institutions, including:

Canadian and regulated foreign financial institutions as defined in the Bank Act
Federal Government Programs or Lending Agencies
The Business Development Bank of Canada
Export Development Canada
Provincial Governments and programs
Provincial Loan Boards
All other non-recognized financial institutions

Please note that non-recognized lenders providing funding to current or prospective licence holders in Atlantic Canada and Quebec may be asked to provide additional information to Fisheries and Oceans Canada prior to using the Notice and Acknowledgement System. This is to help ensure the lending arrangement is in full compliance with the Atlantic Fishery Regulations, 1985 and the Maritime Provinces Fishery Regulations.

About the Notice and Acknowledgment System (NAS)

The Notice and Acknowledgement System can only be used for financial transactions where a licence or quota is used as collateral. It is not meant for separating use and benefits conferred under a licence from the title or to hold a licence in trust.

Please fill out the form that applies to your region and sector:

Completing notice forms

Either a licence holder / vessel owner or the lender can notify DFO of financial arrangements by completing the appropriate notice form. If submitted by the lender, the licence holder's written consent must be indicated by signature on the form.
The licence holder must complete the declaration of consent on the notice form this allows DFO to contact the lender for administration, evaluation, and review purposes.
DFO will sign the notice form, acknowledge its receipt, and return a copy to the licence holder and to the lender.
The original notice form will be kept with the licence holder's licensing information.
By submitting a notice form, the licence holder agrees to submit an acknowledgement form for any permanent transactions that may reduce the value of a licence. It is always the duty of the licence holder to ensure that all documentation is completed, signed and submitted correctly.

Completing acknowledgement forms

Licence holders must submit an acknowledgement form whenever they submit a request for:

Licence Reissuance (known as “Nomination” in Pacific Region)
Permanent Quota Transfer (This does not include a request for modification of quota within a single fishing season.)
Permanent Gear Transfer
Enterprise Combining, Licence Combining or Harvest Benefit Combining
Request for Removal of Notice on file
Vessel Replacement (Pacific Region only)
Notice of Change of Ownership (Pacific Region only)

Acknowledgement forms must be signed by the lender.
If there is more than one notice form associated with a particular licence, then DFO will require an acknowledgement form for each notice.