Fisheries Resource Control Act of 1979

Fisheries Resource Control Act of 1979 - Amends the Fishery Conservation and Management Act of 1976 to prohibit a vessel of the United States which is licensed or registered for a fishery to perform any of the following transactions without the approval of the Secretary of Commerce: (1) lease, charter, mortgage, deliver, or in any manner transfer such vessel to any foreign person; (2) sell, deliver, or otherwise transfer to any foreign person for any period exceeding one year a substantial portion of the fish available from the operation of such vessel; or (3) issue to any foreign person a bond, note, or other evidence of indebtedness secured by a mortgage of such vessel.

Sets forth the procedure for application to the Secretary of Commerce for any person seeking to engage in such transactions. Directs the Secretary to transmit such application to each Fishery Council which has authority over a fishery in which the vessel is engaged. Directs the Council to submit to the Secretary a written evaluation of the effect of an approval or disapproval on the fisheries involved.

Allows the Secretary to approve such application upon a determination that it is consistent with the purpose and policy of this Act, and to exempt particular types of transactions from required approval.

Sets forth penalties for false statements of a material fact to a Council, or any officer, attorney, or agent of a Council, or to the Secretary or any delegate of the Secretary.

Requires the Secretary of Commerce to submit to Congress an annual report regarding foreign investment in the United States fishing industry, and details the requirements of such report. Allows the Secretary to require any person who is subject to the jurisdiction of the United States to furnish information necessary to complete such report.