Fisheries Management Act 1991

decision‑making processes should effectively integrate both long‑term and short‑term economic, environmental, social and equity considerations;

if there are threats of serious or irreversible environmental damage, lack of full scientific certainty should not be used as a reason for postponing measures to prevent environmental degradation;

the principle of inter‑generational equity—that the present generation should ensure that the health, diversity and productivity of the environment is maintained or enhanced for the benefit of future generations;

the conservation of biological diversity and ecological integrity should be a fundamental consideration in decision‑making;

improved valuation, pricing and incentive mechanisms should be promoted.