The Caroline Collins Trophy was presented to Fishing Bay Yacht Club by Commodore Russ Collins in July 1992. This trophy is to be awarded to the Young Lady who has the highest standing in the Junior Regatta's Laser competition. The selection of the recipient will be made by the Junior Regatta Race Committee. It is the request of the presenter that this trophy always be used to acknowledge outstanding performance by a Young Lady. The class of yacht may be changed by the Board if necessary. In 1998, the Board changed the class to the Byte fleet.