Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Authority, in the performance of its functions, must pursue the objectives of:
(a) implementing efficient and cost - effective fisheries management on behalf of the Commonwealth; and
(b) ensuring that the exploitation of fisheries resources and the carrying on of any related activities are conducted in a manner consistent with the principles of ecologically sustainable development (which include the exercise of the precautionary principle), in particular the need to have regard to the impact of fishing activities on non - target species and the long term sustainability of the marine environment; and
(ba) ensuring that:
(i) the exploitation in the Australian fishing zone (as defined in the Fisheries Management Act 1991 ) and the high seas of fish stocks in relation to which Australia has obligations under international agreements; and
(ii) related activities;
are carried on consistently with those obligations; and
(bb) to the extent that Australia has obligations:
(i) under international law; or
(ii) under the Compliance Agreement or any other international agreement;
in relation to fishing activities by Australian - flagged boats on the high seas that are additional to the obligations referred to in paragraph (ba)--ensuring that those activities are carried on consistently with those first - mentioned obligations; and
(c) maximising the net economic returns to the Australian community from the management of Australian fisheries; and
(d) ensuring accountability to the fishing industry and to the Australian community in the Authority's management of fisheries resources; and
(e) achieving government targets in relation to the recovery of the costs of the Authority.
(2) In addition to the objectives mentioned in subsection (1), the Authority, in the performance of its functions, is to have regard to the objective of ensuring that the interests of commercial, recreational and Indigenous fishers are taken into account.