Based on a similar approach as used last year, but updated to take account of recent decisions about the probable impact of the OLIVA incident on the resources at Nightingale and Inaccessible, TACs have been calculated for all four islands which aim to achieve and maintain CPUE at the levels that would have applied in 2011 had it not been for the Oliva incident. The results suggest reductions in the present TAC at Inaccessible, Tristan and Nightingale. However, given the intended move to a management procedure approach for setting catch limits by next year, and taking cognisance of the greater industrial stability that such an approach intends, it is recommended that the TAC reductions as now calculated be considered for phasing in over time.