The Department of Conservation and Ministry for Primary Industries are carrying out the review jointly as part of the Government's aquaculture strategy and five-year action plan.
MPI aquaculture unit manager Daniel Lees said the Government had made a commitment to help the aquaculture industry achieve its strategic goal of $1 billion in annual sales by 2025 and the review was part of that.
''We now want to improve the regime for land-based aquaculture,'' Mr Lees said.
''The current land-based aquaculture regime is complex, outdated and overly onerous on applicants. ''We want a regime that works for business, promotes investment, and ensures sustainability of our freshwater species and ecosystems.''
''Doc and MPI will work with the land-based aquaculture sector, Maori and relevant stakeholders to identify impediments with the current regime, and explore and test opportunities for improvement.''
Following a series of workshops last month and this, they intended to report back to ministers with options to improve the regime before the end of 2013. Ministers would then decide on the changes to progress and the timing of implementation.
''We want to hear what the problems are and what are the opportunities for growth, and how the law can be improved,'' Mr Lee said.
''We want to streamline the system and ensure sustainability.''
There would be a public consultation next year.
One of the suggestions under consideration in the discussion document was the move from the need for a fish farm licence to registration on a new Fish Farmer Register.
''People seem quite happy with the idea of going from a licence to registration. The old licence was for 14 years and registration will be for as long as the farmer wants to operate.''
It would also enable more species to be farmed ''There are lots of species we could try, including seaweed and shellfish.''
He knew of farmers looking at growing algae for biofuel and health benefits as well as for effluent ponds.
AQUACULTURE
• Land-based aquaculture is farming of freshwater and marine species above the mean high water spring tide.
• Aquaculture is one of the fastest growing primary sectors in the world. Land-based aquaculture equates to about 60% of international aquaculture growth.
• There is a growing international demand for seafood that can only be met by aquaculture growth. Internationally, most wild fish stocks are now fully utilised.
• Fish farmed include salmon, goldfish, koura, kingfish, paua, clams, Malaysia prawns and rock lobster.