The P.E.I. government has approved lobster marketing board regulations that will allow for a lobster levy to be collected next spring.

The new legislation allows for the establishment of a board to administer the levy for the marketing of lobster, and to represent the interests of lobster fishermen provincially and nationally.

The regulations require lobster fishermen to pay a levy of one cent per pound of lobster sold to buyers and authorizes the board to ensure that the levy is collected.

President of the P.E.I. Fishermen's Association Craig Avery is pleased this milestone has been reached.

"It's a big day for the fishermen here on Prince Edward Island that they are taking their industry into their own hands and they are not relying on somebody else to do their marketing for them," said Avery.

"And I think this levy money will be a great day. It will keep the price of lobsters up around where they should be and keep demand in the market place strong."

The new regulations also authorizes the holding of a levy meeting to consider changes to the amount of the levy if two-thirds of the board members vote in favour.

The regulations come into effect July 4.

But the association has already said it does not plan to bring in the levy until the spring lobster season in 2016.