This booklet, produced as an output from the Community Based Fisheries Management Project -- 2nd Phase(CBFM-2), aims to summarise the legal knowledge and experiences built up and challenges faced during the five years of CBFM-2 implementation. It also suggests a set of legal and policy interventions to ensure future sustainability. The project has established community control over 116 water bodies, spread over 48 Upazilas (sub-district) in 22 districts in Bangladesh. With 130 Community Based Organisations (CBOs), formed under this project, the communities were given the responsibility for management of 116 water bodies -- government owned fisheries (jalmohals) and privately owned seasonal water bodies -- closed beels, open beels, river sections and floodplains. The CBFM-2 project has been managed by the Department of Fisheries in partnership with the WorldFish Center and 11 implementing NGOs -- Banchte Shekha, BRAC, Caritas, CNRS, CRED, GHARONI, Proshika, SDC, SHISUK, and the specialist NGOs FemCom for media communications and BELA for legal support and assistance.