(1) Unless earlier cancelled in accordance with section 15, a fishing licence shall be valid for a period of not more than 12 months.
(2) Where a vessel licensed as a local fishing vessel becomes a foreign fishing vessel, the licence shall automatically terminate.
(3) The term of a foreign fishing licence shall not extend beyond the term of validity of the applicable access agreement.
(4) A licence is not transferable except with the written permission of the Minister.