7.3.2006 Official Journal of the European Union L 65/1 | (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 388/2006 of 23 February 2006 establishing a multiannual plan for the sustainable exploitation of the stock of sole in the Bay of Biscay THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 37 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (%), Whereas: (1) Recent scientific advice from the International Council for the Exploration of the Sea (ICES) has indicated that the sole stock in ICES Divisions VIlla and VIIIb have been subjected to levels of mortality by fishing which have eroded the quantities of mature fish in the sea to the point at which the stocks may not be able to replenish themselves by reproduction and are therefore threatened with collapse. Measures need also to be taken to establish a multiannual plan for the management of the sole stock in the Bay of Biscay in accordance with Article 5 of Council Regulation (EC) No 2371/2002 of 20 December 2002 on the conservation and sustainable exploitation of fisheries resources under the Common Fisheries Policy (2). The objective of the plan is to ensure exploitation of Bay of Biscay sole that provides sustainable economic, envi- ronmental and social conditions. Regulation (EC) No 2371/2002 requires, inter alia, that to achieve this objective the Community apply the precau- tionary approach in taking measures to protect and conserve the stock, to provide for its sustainable exploi- tation and to minimise the impact of fishing on marine ecosystems. The Community should aim for a progressive implementation of an ecosystem-based approach to fisheries management and should contribute (") Not yet published in the Official Journal. () OJ L 358, 31.12.2002, p. 59. to efficient fishing activities within an economically viable and competitive fisheries industry, providing a fair standard of living for those who depend on fishing for Bay of Biscay sole and taking into account the interests of consumers. In order to achieve that objective the fishing mortality rates need to be controlled so that it is highly likely that those rates are reduced from year to year. Such control of fishing mortality rates can be achieved by establishing an appropriate method for the setting of the level of Total Allowable Catch (TAC) for the stock concerned, and a system under which fishing efforts on this stock are restricted to a level at which the TAC is unlikely to be exceeded. The Scientific, Technical and Economic Committee for Fisheries has advised that the precautionary biomass for the sole stock in the Bay of Biscay should be 13 000 tonnes. The Bay of Biscay sole stock is close to precautionary biomass levels, and achieving such levels in the short term does not require the application of a full effort- management system. However, it is opportune to establish measures to limit the total capacity of the main fleets fishing for this stock, with a view to reducing that capacity over time, ensuring that the resource recovers and preventing future effort increases. Control measures in addition to those laid down in Council Regulation (EEC) No 2847/93 of 12 October 1993 establishing a control system applicable to the common fisheries policy () need to be included in order to ensure compliance with the measures laid down in this Regulation, () OJ L 261, 20.10.1993, p. 1. Regulation as last amended by Regu- lation (EC) No 768/2005 (O] L 128, 21.5.2005, p. 1).