This booklet summarizes the legal knowledge and experiences built up and challenges faced during five years of implementation of the Community Based Fisheries Management Project – 2nd Phase. In Bangladesh, the legal framework for the management of fisheries developed from two different legal regimes. The various laws on fisheries enacted during the colonial period define fisheries as “public” and “private ” For management purposes, “fisheries” have also been classified as “open” and “closed” water fisheries in the management guidelines. The definition of “fishery” was first included in the Protection and Conservation Act, 1950 through an amendment in 1995. In general, laws on fisheries do not regulate the principles and practices of leasing or physical management of fisheries. The Land Management Manual, 1990 attempted to carry this out however this was completely changed through subsequent administrative decisions. The booklet also summarizes lessons learnt during CBFM-2 with respect to legal hurdles faced.