A bill to amend the Fishery Conservation and Management Act of 1976 for the purpose of waiving certain requirements of that Act in order to provide for the orderly implementation of foreign fishing in the fishery conservation zone on March 1, 1977.

Amends the Fishery Conservation and Management Act of 1976 to: (1) waive Congressional oversight of any governing international fishery agreement entered into on or before February 15, 1977; (2) set the effective date of any such agreement, with respect to the United States, on the day on which it was entered into; (3) waive certain requirements with respect to applications for foreign fishing permits, made pursuant to any such agreement which authorize fishing in the fishery conservation zone during 1977; and (4) waive until May 1, 1977, the requirement that foreign fishing vessels have on board a permit issued under application submitted pursuant to specified international fishery agreements.