The Coast Guard has announced in the Federal Register that it is seeking public comment on a proposal to expand regulations on vessel financial responsibility for tank vessels greater than 100 gross tons as required by statute, and to make other amendments that clarify and update reporting requirements, reflect current practice, and remove unnecessary regulations.
This proposed rule would ensure that the Coast Guard has current information when there are significant changes in a vessel’s operation, ownership, or evidence of financial responsibility, and would reflect current best practices in the Coast Guard’s management of the Certificate of Financial Responsibility (COFR) program.
The Coast Guard views public participation as essential to effective rulemaking and will consider all comments and material received during the comment period. Comments and related material must be received by the Coast Guard on or before August 11, 2020.
For full details, read the Federal Register Notice of Proposed Rulemaking HERE