Three-quarters of aid from the European Union's Financial Instrument for Fisheries Guidance (FIFG) - which is the main instrument for aid to the fisheries sector - go to measures other than the modernisation of the fleet. These include the elimination of fleet overcapacity. In the past five years, more aid has gone to reduce the Community fleet than to support fleet renewal. In addition, aid is made conditional on strict compliance with the fleet capacity objectives of the multi-annual guidance programmes (MAGPs). MAGPs are a unique device, legally binding on Member States, which the Community has used to reduce its fleet by 15 and 10% in tonnage and engine power respectively from 1991 to 1996. Reduction in fishing capacity is backed by an extensive conservation regime including the setting of annual total allowable catches and quotas, strengthened by technical measures and a comprehensive monitoring and control system.