The Minister for Fisheries receives advice from the Marine Research Institute (MRI) and consequently issues total allowable catch (TAC) for individual stocks for the fishing year, which runs from 1 September to 31 August the following year. The size of each vessels annual catch quota for each stock is its share in the stock multiplied by the TAC of that stock. Both the permanent quota-shares and the annual catch quotas are transferable in part or total, subject to certain restrictions.