mum financial requirements in determining whether the applicant possesses the required financial resources. The Commission, in any instance where it deems it necessary or desirable to do so, may employ bases other than those expressed above in determining financial responsibility. (c) Philippine Government approval. All such applications shall bear Philippine Government approval prior to being presented for approval by the United States Maritime Commission. SUBPART C-CHARTER TERMS AND CONDITIONS § 311.21 Mandatory provisions in charter. Every charter made by the Commission pursuant to the provisions of the Philippine Rehabilitation Act of 1946, and pursuant to this part, shall inIclude the following mandatory provisions: (a) Books and accounts of charterer; Commission examination and audit. That the charterer shall keep its books and accounts relating to the vessel in such form as the Commission may prescribe, shall file such financial statements as the Commission may require, and shall permit the Commission to examine and audit its books, records, and accounts. (b) Bond of charterer. That for each vessel chartered under the Philippine Rehabilitation Act of 1946, the charterer shall deposit with the Commission a bond, in such amount as the Commission shall require but not less than $25,000, to be approved by the Commission both as to form and sufficiency of the sureties, conditioned upon the true and faithful performance of all and singular the covenants and agreements of the charterer contained in the charter, including, but not limited to, the charterer's obligation to pay charter hire and damages, and indemnity against liens on the chartered vessel. The charterer may, in lieu of furnishing such bond, pledge United States Government securities in the face value of the required amount under an agreement satisfactory in form and substance to the Commission. (c) Financial limitations. That the charterer agrees that (1) no capital shall be withdrawn, (2) no share capital shall be redeemed or converted into debt, (3) no dividend shall be paid, (4) no loan or advance (except advances to cover current expenses of the charterer) shall be made, either directly or indirectly, to any stockholder, director, officer, or employee of the charterer or to any related company (as defined in § 311.1 (d)), (5) no investment shall be made in the securities of any related company (as defined in § 311.1 (d)), (6) no indebtedness to any stockholder, director, officer, or employee of the charterer or to any related company (as defined in § 311.1 (d)) which was classified as long-term or noncurrent in the balance sheet submitted with the application (or amendment thereto) to charter the vessel, shall be repaid in whole or in part, and (7) no salary at a rate in excess of $12,500.00 per annum shall be paid if, after such transaction, the amount of working capital or the amount of net worth thereby would be reduced below the minima prescribed in § 311.11. (d) Restricted operations. That the vessel shall be operated only in the interisland commerce in the Philippines. § 311.22 Charter form. Unless otherwise ordered by the Commission, the charter form shall be substantially in the form of the charter of a war-built drycargo vessel under the Merchant Ship Sales Act of 1946, as prescribed by § 299.82 of this chapter: Provided, That such charter shall be modified to give effect to the provisions of this part, and there shall be eliminated from such charter all provisions applicable only to the payment of additional charter hire. 820805-49-51 INDEX A Academy, United States Merchant Marine, Kings Point, New York; donation for time Commission. See Mari- Aliens, employment of, on certain vessels; regulations respecting. See Coast Guard; Arming of United States merchant cargo vessels; regulations respecting. See Coast B British Ministry of War Transport certificates, cargo vessels equipped with; waiver C Cadets, Merchant Marine; regulations respecting. See Maritime Commission. Charter of maritime carriers; regulations respecting. See Maritime Commission. Coast Guard, Department of the Treasury: Able seamen employed on Great Lakes merchant cargo and tank vessels, 46 Aliens, employment of, as unlicensed crew members on subsidized vessels, 46 Arming of merchant cargo vessels, United States, 46 §§ 147.06-1-147.06-5 Combustible liquids, detailed regulations governing transportation or storage Corrosive liquids, detailed regulations governing transportation or storage of, Discharge or termination of seamen, reporting of. See Navigation and vessel Enforcement; reports of violations, 46 § 157.1 Engineering equipment; specifications for backfire flame arrestors (for carbu- Classification of explosives, 46 § 146.01-4 Combustible liquids, detailed regulations governing transportation or stor- Containers for explosives. See Transportation or storage. Corrosive liquids, detailed regulations governing transportation or storage Coast Guard, Department of the Treasury-Continued Explosives or other dangerous articles or substances and combustible liquids on Explosives, detailed regulations governing transportation or storage of, 46 Gases, compressed, detailed regulations governing transportation or storage Hazardous articles, detailed regulations governing transportation or stor- Inflammable liquids and solids, and oxidizing materials, detailed regula- Inspection of cargo, 46 § 146.02-12 Liquids, combustible, corrosive, and inflammable; detailed regulations gov- Motor vehicles loaded with. See Vehicles. Oxidizing materials and inflammable solids, detailed regulations governing Poisonous articles, detailed regulations governing transportation or storage Railroad vehicles loaded with. See Vehicles. Shipments. See Transportation or storage. Ship's stores and supplies on board vessels, use of dangerous articles as: Certification, 46 §§ 147.03-1-147.03-11 Classification, 46 § 147.05-100 Definition, 46 §§ 147.02-1, 147.02-2 General, 46 §§ 147.01-1-147.01-7 Merchant cargo vessels, United States, arming of, 46 §§ 147.06-1— 147 06-5 Use, detailed regulations governing, 46 §§ 147.04-1-147.04-4 Storage. See Transportation or storage. Transportation or storage: Barges, 46 §§ 146.10-1-146.10-50 Cargo: Handling and stowage, 46 § 146.02-17 Devices for; United States Coast Guard container specifica- Inspection of, 46 § 146.02-12 Classification of explosives, 46 § 146.01-4 Combustible liquids, detailed regulations governing, 46 §§ 146.26-1- Containers: Damaged, 46 § 146.02-14 Temporary amendments with respect to. See Temporary amend- United States Coast Guard specifications; cargo handling and stow- age devices, 46 §§ 146.09-1-146.09-12 Corrosive liquids, detailed regulations governing, 46 §§ 146.23—1— 146.23-100 Definitions, 46 §§ 146.03-3-146.03-38 Emergency shipments, 46 § 146.02-15 Explosives, detailed regulations governing, 46 §§ 146.20-1-146.20-100 Fires, report of, 46 § 146.02-13 Gases, compressed, detailed regulations governing, 46 §§ 146.24-1- 146.24-100 Coast Guard, Department of the Treasury-Continued Explosives or other dangerous articles or substances and combustible liquids on Transportation or storage—Continued General regulations and preface, 46 §§ 146.01-1-146.02-22 Cargo: Handling and stowage of, 46 § 146.02-17 Inspection of, 46 § 146.02-12 Characteristic properties, statements of, 46 § 146.02-21 Containers, damaged, 46 § 146.02-14 Fires, report of, 46 § 146.02-13 Inspection of cargo, 46 § 146.02-12 Records, preservation of, 46 § 146.02-22 Repairs, 46 § 146.02-20 Shipments: Canadian, 46 § 146.02-9 Emergency, 46 § 146.02-15 Import, 46 § 146.02-11 United States Army or Navy Department, 46 § 146.02–8 Common carrier, 46 § 146.02-18 Other than common carrier, 46 § 146.02–19 Handling, vessel's requirements with respect to. See Requirements. Highway vehicles loaded with dangerous substances and transported Inflammable: Liquids, detailed regulations governing, 46 §§ 146.21-1-146.21-100 Inspection of cargo, 46 § 146.02-12 Labeling, shipper's requirements with respect to. See Requirements. Combustible, 46 §§ 146.26-1-146.26-100 List of explosives or other dangerous articles containing shipping name Marking, shipper's requirements with respect to. See Requirements. Oxidizing materials and inflammable solids, detailed regulations gov- Packing, shipper's requirements with respect to. See Requirements. 146.25-100 Railroad vehicles loaded with dangerous substances and transported Records, preservation of, 46 § 146.02-22 Repairs, 46 § 146.02-20 Requirements: Shipper's, with respect to packing, marking, labeling, and shipping Vessel's, with respect to acceptance, handling, stowage, etc., 46 |