The details form part of the government's $220 million 'Securing our Fishing Future' package.
In December 2005, Senator Macdonald issued a formal direction to the Australian Fisheries Management Authority (AFMA) to implement a range of measures to address issues of overfishing.
"It is critical that decisive action is taken to ensure the sustainability of Commonwealth fish stocks," he said.
"By issuing a direction to AFMA, the Australian Government has made it very clear that it wishes AFMA to accelerate its current programs to prevent overfishing, rebuild overfished stocks, and to take a more strategic approach to setting catch limits in future.
Senator Macdonald said the future operating environment for Commonwealth-managed fisheries would focus on resource management and opportunities for fishing businesses.