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Vessels Sharing Agreements, Liner Shipping (Exempt, Sec 3, Competition Act)

Ministry of Corporate Affairs' Notification S.O. 3250(E) dated the 4th July 2018, reads as follows.—

In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Vessels Sharing Agreements of Liner Shipping Industry from the provisions of section 3 of the said Act, for a period of three years from the date of publication of this notification in the Official Gazette, in respect of carriers of all nationalities operating ships of any nationality from any Indian port provided that the Central Government may withdraw the said exemption, if any complaint for fixing of prices, limitation of capacity or sales and allocation of markets or customers comes to its notice.

During the said period of three years, the Director General, Shipping, Ministry of Shipping, Government of India shall monitor operation of such agreements and submit his report at yearly interval and for which, the persons responsible for operations of such ships in India shall file copies of existing Vessels Sharing Agreements or Vessels Sharing Agreements to be entered into with applicability during the said period alongwith other relevant documents as may be specified by the Director General, Shipping within thirty days of the publication of this notification in the Official Gazette or within ten days of signing of such agreements, whichever is later, with the Director General, Shipping.

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