This notification, S.O. 3250(E), issued by the Ministry of Corporate Affairs on July 4, 2018, exempts Vessel Sharing Agreements (VSAs) within the Liner Shipping Industry from the provisions of Section 3 of the Competition Act, 2002. This exemption, enacted under the powers conferred by clause (a) of section 54 of the Competition Act, 2002, is granted in the public interest and is valid for three years from the date of publication in the Official Gazette. The exemption applies to carriers of all nationalities operating ships of any nationality from any Indian port. However, the Central Government reserves the right to withdraw the exemption should any complaints arise regarding price fixing, capacity or sales limitations, or market/customer allocation.
During the three-year period, the Director General of Shipping, Ministry of Shipping, Government of India, is tasked with monitoring the operation of these agreements and submitting annual reports. Operators of ships in India are required to file copies of existing VSAs, or VSAs entered into during the period of exemption, along with any other relevant documents specified by the Director General, Shipping. These filings must be submitted within thirty days of the notification's publication in the Official Gazette or within ten days of signing the agreements, whichever is later, to the Director General, Shipping. The notification is referenced as F. No. 5202011/CS and was signed by K. V. R. Murty, Joint Secretary.
Key Entities Referenced
Competition Act, 2002: An Indian law related to competition regulation, specifically section 54 is referenced.
Vessels Sharing Agreements: Agreements within the Liner Shipping Industry that are being exempted from certain provisions of the Competition Act, 2002.
Liner Shipping Industry: The specific industry to which the Vessels Sharing Agreements pertain.
section 3: A specific section of the Competition Act, 2002 from which Vessels Sharing Agreements are being exempted.
Director General, Shipping, Ministry of Shipping: The authority responsible for monitoring the operation of Vessels Sharing Agreements.
Indian port: Refers to ports located in India, relevant as the exemption applies to carriers operating from these ports.
Central Government: The entity granting the exemption to Vessels Sharing Agreements.
New Delhi, Delhi: Location where the notification was issued.
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[फा. सं. 5/20/2011-सीएस]
के. वी. आर. मूOत, संयु" त सिचव
3788 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 4th July, 2018
S.O. 3250(E).— 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.
[F. No. 5/20/2011-CS]
K. V. R. MURTY, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.