[Federal Register Volume 67, Number 77 (Monday, April 22, 2002)]
[Proposed Rules]
[Pages 19535-19536]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-9795]


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FEDERAL MARITIME COMMISSION

46 CFR Part 540

[Docket No. 94-06]


Financial Responsibility Requirements for Nonperformance of 
Transportation

AGENCY: Federal Maritime Commission.

ACTION: Proceeding discontinued.

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SUMMARY: The Federal Maritime Commission (``Commission'') published a 
Notice of Proposed Rulemaking (``NPR'') in 1994 and a Further Notice of 
Proposed Rulemaking (``FNPR'') in 1996 that proposed to amend its 
financial responsibility requirements applicable to passenger vessel 
operators (``PVOs'') for nonperformance of transportation. A number of 
comments were received to the FNPR. Given significant changes that have 
occurred in the cruising industry, and the recent financial 
difficulties experienced by several PVOs, the Commission has determined 
to reevaluate its requirements. Separate rulemakings will be initiated 
for that purpose. Accordingly, this proceeding can be, and hereby is, 
discontinued.

DATES: This proceeding is discontinued as of April 22, 2002.

FOR FURTHER INFORMATION CONTACT: Sandra Kusumoto, Director, Bureau of 
Consumer Complaints and Licensing, Federal Maritime Commission, 800 
North Capitol Street, NW, Room 970, Washington, DC 20573-0001, (202) 
523-5787, Email: [email protected]

SUPPLEMENTARY INFORMATION:
    An NPR was published in the Federal Register on March 31, 1994 (59 
FR 15149), that proposed to amend 46 CFR part 540 to increase 
nonperformance coverage for the traveling public by removing the $15 
million unearned passenger revenue coverage ceiling, eliminate the 
self-insurance option from passenger vessel operator section 3 
coverage, and adjust the sliding scale provision. After the comments 
were considered by the Commission, the NPR was held in abeyance pending 
a further examination of the issues in a formal Inquiry, Docket No. 94-
21, Inquiry into Alternative Forms of Financial Responsibility for 
Nonperformance of Transportation, (59 FR 52133) (``Inquiry'') published 
October 26, 1994. After assessing the comments in response to the 
Inquiry, the Commission issued an FNPR on June 26, 1996 (61 FR 33059), 
to specifically address some of the issues raised in comments to both 
the NPR and the Inquiry. More recently, the bankruptcies of several 
PVOs,

[[Page 19536]]

coupled with the experience of passengers in receiving payment in 
satisfaction of claims, led to a reevaluation of the rules governing 
PVO coverage of unearned passenger revenue. As a result, the Commission 
determined to initiate separate proceedings to take a fresh look at 
these and related issues. Therefore, this proceeding is hereby 
discontinued.

    By the Commission.
Bryant L. VanBrakle,
Secretary.
[FR Doc. 02-9795 Filed 4-19-02; 8:45 am]
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