A- THE PRINCIPLESThe Common Fisheries Policy has developed within the framework of the CAP asarticle 38 (1) defined fisheries and products thereof as "agricultural products". Certainprinciples of the CAP have been adapted to the CFP which consists of the followingelements:a) Equal access:In view of the mobile nature of fish they belong to no particular nation. Therefore theCFP accords the Community fishermen equal access1 to the "Community pond"deliminated by the national limits of 200 nautical miles or a median line. They can fishthere without discrimination subject, however, to negotiated derogations reserving12-mile national fishing rights, providing for a licence for sensitive species and vessels' specifications2.The conservation and management of fish stocks are controlled by the total allowable catches (TAG's) fixed annually. The volume of catches (i.e. the quota) availableto the Community is distributed between the member states3.