CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Marshall Islands Registry Updates Yacht Code

Marshall Islands Registry Updates Yacht Code

by Jason Gorringe, Tax-News.com, London

28 June 2013


The Republic of the Marshall Islands Maritime Administrator has recently revised its RMI Yacht Code (MI-103), to reflect changes in the yacht market, not only in terms of the increasing size and complexity of yachts being designed and built, but also to cover recent technological and regulatory developments.

The Code applies to all commercial yachts of 24 meters in loadline length and above and certain sections of the Code apply to Private Yachts Limited Charter (PYLC) of any tonnage. The Code sets the standards and substantial equivalencies for safety, security, pollution prevention and seafarer accommodations appropriate to the size of the yacht. The Code replaces the previous RMI Commercial Yacht Code in its entirety.

Substantive changes to the Code include the Administrator’s requirement that all commercial yachts, regardless of tonnage, must be classed by a Recognized Organization (RO) or Classification Society. The Administrator has clarified Appointed Representatives (ARs) will continue to be recognized in relation to the issuance of international statutory convention documents on unclassed yachts. Two such Appointed Representatives (ARs) already have agreements in place with the Administrator: United Maritime Survey and Regs4yachts (a trading name of Regs4ships Ltd.).

A notable change is that the Code no longer has a size limitation and is applicable to commercial yachts and PYLCs of unlimited tonnage. With respect to survey and inspection requirements, changes include an initial, annual and renewal Compliance Verification (inspection) for commercial yachts and PYLCs and the issuance of an RMI national compliance certificate for a commercial yacht or PYLC. For those yachts that have been issued a Commercial or Private Yacht Document of Compliance, either a Commercial Yacht Compliance Certificate or PYLC Compliance Certificate will be issued by the Administrator following the next annual Compliance Verification.

“We are pleased and excited to launch the revised Code,” said Marc Verburg, Deputy Commissioner of Maritime Affairs. “The Code is now more in line with current practices within the yacht industry and pulls together new convention requirements like the Maritime Labour Convention, 2006. We look forward to industry feedback and hope for a smooth transition for existing yachts in the Registry."

TAGS: marine

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »