Published: 2018
Total Pages: 0
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The Minister of Transport may refuse a certificate if he or she is of the opinion that the insurer or guarantor will be unable to meet their obligations under the contract of insurance or if the financial security provided will not satisfy the requirements of Article 12 of the Convention (clause 25(4)). [...] While the owner of the towed vessel remains liable for wreck removal costs, this measure places the onus on the owner of the towing vessel to ensure, prior to the engaging in the tow operation, that the owner of the towed vessel maintains adequate insurance for wreck removal or remediation.48 Failure by the owner of the towing vessel to produce proof of the exemption is an offence (clause 110(1)(a [...] In contrast, section 160(1) of the CSA 2001 establishes a waiting period of 90 days following the date that the wreck was reported and includes a provision allowing the receiver to dispose of a wreck at any time if, in his or her opinion, the value of the wreck is less than $5,000, the storage costs would likely exceed the value of the wreck, or the wreck is perishable or poses a threat to public [...] The bill requires the Minister of Transport and the Minister of Fisheries and Oceans to produce public records of notices of violation and default, including the name of the person or vessel LIBRARY OF PARLIAMENT 15 PUBLICATION NO.
