from the pool with quota leased privately from other vessels. Where vessels have acquired additional FQA units, these effectively give rise to IQs. The SWFPO operates IQs for most of its membership, although a group of smaller inshore vessels do work within a quota pool. Many UK POs operating quota pools hold some FQAs centrally (on so-called “dummy” licences) which are used for the benefit of the membership as a whole. Both the CFPO and, to a lesser extent, the SWFPO, have invested in FQAs in order to secure additional quota for the membership as a whole. The CFPO also holds FQAs acquired by the Dutchy Fish Quota Company which aims to secure quota for the benefit of fishermen in Cornwall. Both POs assist their members with quota trading where required, for example by arranging exchanges (“swaps”) with other UK POs via the Marine Management Organisation (MMO), but are not otherwise actively involved in quota trading: there are a number of private companies which act as brokers in this market. Although day-to-day management decisions are taken by the PO offices, decisions on quota management approaches are taken by elected representative boards or at general meetings.