Canada is trying to gain control over the Grand Banks which was now under an International Law of the Sea. This law does not recognize the territory of a country extending beyond 22 kilometers from a country's coastal area.
Canada's research studied that overfishing at the Grand Banks would affect the fish stock and their fishing industry. Canda wanted to apply stricter regulations and by gaining entire control.
I think the United Nations would consider regulating the fishing on the Grand Banks but not to the point of sole control. This action might create a dispute among other countries that currently enjoy their freedom to fish in that area.