Comparison View

Formal Consolidation |  Amended Act 29 of 2016
Financial security requirement
34.—(1)  A shipowner must not allow his ship —
(a)to put to sea; or
(b)if it is already at sea, to remain at sea,
unless the requirement in subsection (2) is met.
(2)  The requirement mentioned in subsection (1) is that there is in force a contract of insurance or other financial security —
(a)that is contracted with, or provided by, an approved financial security provider;
(b)that is adequate to ensure that the shipowner will be able to meet any liabilities the shipowner may have —
(i)arising from the shipowner’s obligation to repatriate a seafarer; or
(ii)to provide compensation in the event of death or long‑term disability to seafarers arising from occupational injury, illness or hazard; and
(c)that contains such terms and conditions, and meets such other requirements, as may be prescribed.
[Act 29 of 2016 wef 18/01/2017]
(3)  The liabilities of the shipowner referred to in subsection (2)(b) include liabilities arising under —
(a)sections 23(9), 24(1), 35, 36 and 37;
(b) the Work Injury Compensation Act (Cap. 354); and
[Act 29 of 2016 wef 18/01/2017]
(c)the seafarer’s employment agreements of seafarers working on the ship.
[Act 29 of 2016 wef 18/01/2017]
(4)  Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.
(5)  In this section, “approved financial security provider” means a provider of insurance or other financial security that has been approved by the Director under section 34A for the purposes of this section.
[Act 29 of 2016 wef 18/01/2017]
Informal Consolidation | Amended Act 16 of 2020
Financial security requirement
34.—(1)  A shipowner must not allow his ship —
(a)to put to sea; or
(b)if it is already at sea, to remain at sea,
unless the requirement in subsection (2) is met.
(2)  The requirement mentioned in subsection (1) is that there is in force a contract of insurance or other financial security —
(a)that is contracted with, or provided by, an approved financial security provider;
(b)that is adequate to ensure that the shipowner will be able to meet any liabilities the shipowner may have —
(i)arising from the shipowner’s obligation to repatriate a seafarer; or
(ii)to provide compensation in the event of death or long‑term disability to seafarers arising from occupational injury, illness or hazard; and
(c)that contains such terms and conditions, and meets such other requirements, as may be prescribed.
[Act 29 of 2016 wef 18/01/2017]
(3)  The liabilities of the shipowner referred to in subsection (2)(b) include liabilities arising under —
(a)sections 23(9), 24(1), 35, 36 and 37;
(b)the Work Injury Compensation Act 2019 or the Work Injury Compensation Act repealed by that Act; and
[Act 27 of 2019 wef 01/09/2020]
(c)the seafarer’s employment agreements of seafarers working on the ship.
[Act 29 of 2016 wef 18/01/2017]
(3A)  Where an approved financial security provider has made any payment to a seafarer under a contract of insurance or other financial security mentioned in subsection (2) for a liability arising from a shipowner’s obligation to repatriate a seafarer, any right which the seafarer has (or but for that payment would have had) against the shipowner as a result of the liability is, with respect to the amount of payment made, transferred to and vested in the approved financial security provider.
[Act 16 of 2020 wef 26/12/2020]
(4)  Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.
(5)  In this section, “approved financial security provider” means a provider of insurance or other financial security that has been approved by the Director under section 34A for the purposes of this section.
[Act 29 of 2016 wef 18/01/2017]