On Sunday, Ms Ley wrote to Queensland Agriculture Minister Mark Furner revoking export fishing permission, using her powers under the Environment Protection and Biodiversity Conservation Act.
The ban, which takes effect on September 30, cancels export fishing in the East Coast Inshore Fin Fishery – extending from the NSW border along the Barrier Reef to the top of Cape York – where gillnets are used to target several shark, black jewfish and mullet species.
The Australian Marine Conservation Society and WWF Australia opposed the fishery.
"It is deeply disappointing that the reforms underpinning these conditions have stalled and momentum has been lost in progress towards sustainable management of this fishery," Ms Ley stated.
The aim of the fisheries strategy was to keep track of catches and other fishing activities. Authorities currently don't have detailed records of where and in what volume shark species are being caught.
Maritime Business World