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Exemption of Vessel Sharing agreements [VSAs] of liner shipping industry from the Competition Act, 2002
Applicable to:
Carriers of all nationalities operating ships of any nationality from any Indian port
Effective Date:
02.03.16 to 01.03.17
Superseded Circulars:
S.O. 3641 (E) dated 11.12.13, S.O. 354 (E) dated 05.02.15
Key Changes and Requirements
1. Exemption and Monitoring
Vessel Sharing Agreements (VSAs) of the liner shipping industry are exempted from the Competition Act, 2002 for one year. The Director General of Shipping (DGS) will monitor these agreements.
- Monitoring Period: 02.03.16 to 01.03.17
- Monitoring Authority: Director General of Shipping (DGS)
2. Filing Requirements
Shipping companies/agents/operators must file VSAs with the Indian Register of Shipping (IRS) within 10 days of signing.
- Filing Authority: Indian Register of Shipping (IRS)
- Filing Deadline: Within 10 days of signing VSAs
- Filing Address: Indian Register of Shipping, 52, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Mumbai-400 072
II/4 Annexure-II: Format for Undertaking-cum-Self-Declaration
Important Note
Companies must file VSAs with IRS and provide an undertaking-cum-self-declaration. Failure to comply may result in penalties under the Competition Act, 2002.
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