Exemption of Vessel Sharing Agreements (VSAs) of Liner Shipping Industry from the provisions of Section 3 of the Competition Act, for a period of one year. - F. No. 5/20 /2011-CS - S.O. 3641(E) - Indian Law

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 11 th December, 2013 S.O. 3641(E). In exercise of 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 Vessel Sharing Agreements (VSAs) of Liner Shipping Industry from the provisions of Section 3 of the Competition Act , for a period of one year 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. During the said period of one year, the Director General, Shipping, Ministry of Shipping, Government of India shall monitor such agreements and for which, the person(s) responsible for operations of such ships in India shall file copies of existing VSAs and/or VSAs to be entered into with applicability during the said period alongwith other relevant documents within thirty days of the publication of this notification or within ten days of signing of such agreement(s), whichever is later, with the Director General, Shipping. [F. No. 5/20 /2011-CS] MANOJ KUMAR, Jt. Secy.