Page:United States Statutes at Large Volume 120.djvu/1639

 120 STAT. 1608

Regulations.

PUBLIC LAW 109–304—OCT. 6, 2006

‘‘(1) a violation of part A of subtitle IV of this title that involves unjust or unfair discriminatory treatment or undue or unreasonable prejudice or disadvantage with respect to a United States shipper, ocean transportation intermediary, ocean common carrier, or port; or ‘‘(2) a violation of part B of subtitle IV of this title. ‘‘(c) OPERATORS OF FISHING VESSELS.—The Secretary of Commerce may not guarantee or make a commitment to guarantee a loan for the construction, reconstruction, or reconditioning of a fishing vessel under this chapter if the operator of the vessel has been— ‘‘(1) held liable, or the vessel has been held liable in rem, for a civil penalty under section 308 of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1858) and the operator has not paid the penalty; ‘‘(2) found guilty of an offense under section 309 of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1859) and not paid the assessed fine or served the assessed sentence; ‘‘(3) held liable for a civil or criminal penalty under section 105 of the Marine Mammal Protection Act of 1972 (16 U.S.C. 1375) and not paid the assessed fine or served the assessed sentence; or ‘‘(4) held liable for a civil penalty by the Coast Guard under this title or title 33 and not paid the assessed fine. ‘‘(d) WAIVERS CONCERNING FINANCIAL CONDITION.—The Secretary shall prescribe regulations concerning circumstances under which waivers of, or exceptions to, otherwise applicable regulatory requirements concerning financial condition can be made. The regulations shall require that— ‘‘(1) the economic soundness requirements in section 53708(a) of this title are met after the waiver of the financial condition requirement; and ‘‘(2) the waiver shall provide for the imposition of other requirements on the obligor designed to compensate for the increased risk associated with the obligor’s failure to meet regulatory requirements applicable to financial condition. ‘‘§ 53708. Findings related to economic soundness ‘‘(a) BY SECRETARY OF TRANSPORTATION.—The Secretary of Transportation may not guarantee or make a commitment to guarantee an obligation under this chapter unless the Secretary finds that the property or project for which the obligation will be executed will be economically sound. In making that finding, the Secretary shall consider— ‘‘(1) the need in the particular segment of the maritime industry for new or additional capacity, including any impact on existing equipment for which a guarantee under this chapter is in effect; ‘‘(2) the market potential for employment of the vessel over the life of the guarantee; ‘‘(3) projected revenues and expenses associated with employment of the vessel; ‘‘(4) any charter, contract of affreightment, transportation agreement, or similar agreement or undertaking relevant to the employment of the vessel; ‘‘(5) other relevant criteria; and

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