Maritime Authority Act

An Act to provide for the Establishment of the Liberia Maritime Authority

PART I
GENERAL PROVISIONS

1. Short Title
2. Definitions

PART II
ESTABLISHMENT, OBJECTIVE, FUNCTIONS AND POWERS OF THE
AUTHORITY

3. Establishment of Liberia Maritime Authority

4. Objectives of the Authority
5. Functions of the Authority
6. Powers of the Authority
7. Appointment and Powers of the Commissioner and Deputy Commissioners

PART III
CORPORATE EXISTENCE AND MANAGEMENT OF THE LIBERIA
MARITIME AUTHORITY

8. A Body Corporate
9. Seal of Authority
10. Constitution of the Board of Directors
11. Tenure of Members of the Board of Directors
12. Resignation, Suspension or Removal of Members of the Board
13. Remuneration of Board of Directors
14. Meetings of Board of Directors

PART IV
OFFICERS AND EMPLOYEES OF THE AUTHORITY

15. Transfer of Public Officers

16. Offer of Permanent Employment to Public Officers
17. Protection of Officers
18. Staff

PART V
FINANCIAL PROVISIONS

19. Funds and Resources of the Authority

20. Authority to Meet Expenditure Out of Revenue
21. Power to Borrow Capital
22. Advances of Guarantee of Borrowings by the Government of Liberia
23. Repayment and Interest on Advances and Sums Issued to Meet Guarantee
24. Annual Budget and Funding of the Authority
25. Accounts and Audit
26. Annual Report

PART VI
TRANSFER OF CERTAIN ASSETS TO THE AUTHORITY

27. Transfer of Assets to the Authority

PART VII
TRANSITIONAL PROVISIONS

28. Enforceability of prior Acts, Provisions and/or Arrangements

PART VIII
REPEALERS

PART I
GENERAL PROVISIONS

Section 1. Short Title

This Act shall be cited, in short title, as the Liberia Maritime Authority Act of
2010.

Section 2. Definitions
In this Act, unless the context otherwise requires:

"Agency" means an instrument of the Government of the Republic of Liberia, of

which the Liberia Maritime Authority is, which enjoys limited immunity accorded
to other governmental entities.

"Authority" means Liberia Maritime Authority established under this Act.

"Commissioner" (also referred to as Chief Executive Officer) is the administrative

head of the Liberia Maritime Authority heretofore appointed under Section 11 of
the Liberian Maritime Law and under Part II, Section 7 of this Act.

"Coast" means the land part of the coastal zone adjacent to the high-water line. The
land area of the coast depends on the public use assigned to it in a program of
integrated coastal management, in accordance with such criteria as: control of
residential, tourism (sea, marine, etc.), commercial and industrial development;
protection of vulnerable species and habitats; aesthetic protection of the coastline;
protection of water quality; and prevention of erosion and degradation of coastal
resources;

"Coastal Zone" means the interface or transitional space between two

environmental realms: the land and the sea:

"Financial Year" means the period of twelve months ending on the thirty first day
of December in any year; provided that the first financial year shall consist of the
period commencing on the date of the establishment of the Authority and ending on
the thirty first day of the following year;

"Government" means the Government of the Republic of Liberia, which

administers and controls the affairs of the State;

"Integrated Coastal Management Program" means a process uniting Government

and communities, science and management, and public and private interests in the
preparation and implementation of an integrated plan for the conservation and
development of coastal resources and ecosystems. The purpose of the integrated
coastal management is to improve the quality of life of the communities which
depend on coastal resources and to maintain the productivity and biodiversity of the
ecosystems;

"Liberia Coastal Zone" means the interface or transitional space between the land
coast of the Republic of Liberia and the ocean or sea, rivers, lakes, or streams along
the coast;

"Maritime Domain" or Maritime Jurisdiction means the responsibility to carry out

the maritime laws and regulation, both domestic and international, in Liberian
territorial waters and on vessels registered in Liberia or plying the seas under the
Liberian flag. The definition also includes the administration of human resources
engaged in activities of the Maritime Authority;

"Maritime Sector" means all activities related to regulation of standards for foreign
and domestic commercial and noncommercial activities on the waterways, human
resources, and related maritime industries (excluding extractive activities) of the
Republic of Liberia as determined by the Authority;
"Maritime Zones" and "Internal Waters" mean the zones and waters defined by the
Maritime and other laws of the Republic of Liberia, pursuant to the United Nations
Convention on the Law of the Sea, signed on 10 December 1982 at Montego Bay,
Jamaica. The terms include but are not limited to the territorial sea, the contiguous
zone, the internal waters, the exclusive economic zone and the continental shelf of
the Republic of Liberia;

"National Maritime Strategy" means the policies, plans, programs and guidelines
adopted as or within the maritime policy by the Republic of Liberia and set out in a
strategic enunciation of the Government of Liberia in order to promote the
continued development of the maritime sector;

"Officer" and "Employee", in relation to the Authority, include a public officer

transferred to The Authority from the Bureau of Maritime Affairs, as well as those
thereafter employed by the newly established Maritime Authority.

"Public Officer" any person appointed to serve in the capacity as Commissioner

and Deputy Commissioner;

"Vessel" means all watercrafts, including canoes, boats and ships.

PART II
ESTABLISHMENT, OBJECTIVES, FUNCTIONS AND POWERS OF THE
AUTHORITY

Section 3. Establishment of the Liberia Maritime Authority

(1) There is hereby established a body corporate to be known as the Liberia
Maritime Authority, to be wholly owned by the Government of Liberia.

(2) The Authority shall be an Agency of the Liberian Government.

(3) The provisions of the Schedule shall have effect with respect to the constitution
of the Authority.

Section 4.DObjectives of the Authority.

The objectives of the Authority, acting for and on behalf of the Government of the
Republic of Liberia, shall be as follows:

(1) Administer, secure, promote, regulate, enforce, design and execute policies,
strategies, laws and regulations, plans and programs relating, directly and indirectly
to the functioning, growth and development of the maritime sector and national
maritime awareness;

(2) Collaborate, coordinate, and consult with the Ministry of National Defense
(specifically the Coast Guard), The Ministry of Justice (Police, Immigration, and
other relevant law enforcement agencies), the Ministry of Finance (Customs), the
National Port Authority (the "NPA"), the Ministry of Agriculture (the Bureau of
Fisheries), the National Oil Company of Liberia (NOCAL), the Ministry of
Transport ("MOT"), and other government institutions engaged in activities related
to the maritime sector which exist or may be established in the future, with a view
to working together to promote the country's social and economic development
associated with or growing out of the national maritime, marine and related
programs and activities;

(3) Introduce and promote the enactment of national legislations in the exercise of
the rights and discharge of the responsibilities of the Republic of Liberia under the
United Nations Convention on the Law of the Sea of 1982 and any other maritime
related international conventions, agreements and instruments.

Section 5. Functions of the Authority.

The Authority, in the furtherance of its objectives, shall perform the following
functions:

(1) Administer this Act and all of the provisions contained therein and the maritime
affairs of the Republic. In that connection, the Authority shall have limited law
enforcement powers connected to the maritime and marine programs and activities
to ensure strict adherence to any regulations and rules promulgated under the Act or
pursuant thereto, including developing and implementing policies and measures,
performing administrative acts, and enforcing the laws and regulations applicable
to the maritime sector, in coordination with other relevant government agencies and
institutions which by law have national and specific law enforcement powers;

(2) Develop, coordinate and implement the National Maritime Strategy;

(3) Promote, facilitate and encourage the development of the maritime

administration and sector of Liberia;

(4) Regulate, control and administer all regulatory matters related to the standards
for merchant shipping, and all foreign and domestic water-borne commercial and
noncommercial activities as pfovided for under the Liberia Maritime Law or any
other related law in keeping with Section 4(2) herein above, and consistent with
prevailing Liberian laws, so to avoid duplication of or conflict with the functions of
other Government Agencies;

(5) Participate in and represent the Government at international organizations,

conferences, seminars, workshops and other meetings dealing with maritime-
related matters.

(6) Carryout, operate and participate in any maritime project or undertaking;

(7) Coordinate and assist in the growth and development of the maritime sector and
other maritime related industries in Liberia;

(8) Expand and create maritime employment opportunities for Liberian seafarers, to
include training and certification;

(9) Advise the Government on any matters relating to maritime affairs and any
other matters relating to the functions and duties of the Authority; and

(10) Provide the President of Liberia, and the appropriate Government authorities,
with information of audited accounts, reports and any and all records of activities
of the Authority. If requested by the President of Liberia and other appropriate
authority, the Authority shall provide all other information relating to assets,
liabilities and the functioning of the Authority consistent with the requirements of
prevailing laws.

Section 6. Powers of the Authority.

Without prejudice to the generality of the foregoing provisions of this Act, but
subject to the said provisions, the Authority shall have the power to, consistent with
and in furtherance of the enforcement powers granted the Authority, exercise the
following:

(1) Establish and maintain the capacity to conduct maritime surveillance, maritime
domain monitoring, and maritime information gathering, under the guidelines of
the Ministry of Justice, with limited law enforcement powers, as required by and in
compliance with international maritime agreements, to ensure and protect the
Liberian Maritime Domain and marine shores, and which unit shall work in close
coordination with other government institutions, including the Ministry of Defense,
responsible for Coast Guard services, the Ministry of Finance (Customs), Ministry
of Agriculture (Fisheries), and the Ministry of Justice, specifically the Bureau of
Immigration empowered under sections 2.2(d) and 2.5(d) of the Liberian Alien and
Nationality Laws to protect our borders and to board and search any vessel, aircraft,
railway car, vehicles, etc by which aliens are likely to be brought into the country
illegally.

(2) Enforce the marine and maritime laws of the Republic of Liberia in keeping
with standards set under section 6.1 of this Act;

(3) Collaborate with other government agencies such as the Coast Guard (Ministry
of Defense), Ministry of Justice, Ministry of Finance, and Ministry of Agriculture,
to ensure that the Liberian marine habitat is protected and that illegal activities
within the Liberian Maritime Domain are curtailed. Accordingly, whenever any
action is taken affecting the marine or activities with the maritime waters of Liberia
by any other institution, the Authority shall be duly informed thereof and shall fully
participate in any such undertakings and pursuits, consistent with and not
compromising of the State security;

(4) Carry on such business and other activities, do all such things and enter into all
such transactions as necessary or advantageous for it to carry on or perform or enter
into, for or in connection with the discharge of its functions, consistent with this
Act:

(5) Assist other persons to carry on any business consistent with the functions of
the Authority; and

(6) Establish regulations for commercial and noncommercial vessels plying the
waterways of Liberia to conform to international best practices.

Section 7. Appointment and Powers of the Commissioner & Deputy

Commissioners.
(1) Appointment of the Commissioner. The Board of Directors shall recommend for
the President's approval a Commissioner who shall be the Chief Executive Officer
and who shall have general managing direction of the Authority, superintendence
of ships registered under the laws of the Republic of Liberia, and responsibility for
the enforcement and administration of the provisions of the Liberia Maritime Law
and Regulations or any other maritime related laws.

(2) Powers of the Commissioner. The Commissioner shall have the following
powers:

a. Be responsible for the administration of the Authority and, subject to the

authorization of the Board of Directors in the cases in which this Act so requires,
he may effect operations, transactions, agreements and contracts which may be
required under the Act;

b. Prepare and submit for approval to the Board of Directors the policies, plans and
programs of the Authority; provided that once approved by the Board, the plans,
policies and programs shall be implemented by the corresponding Offices within
the Authority, under the guidance of the Commissioner;

c. Prepare the Authority's draft budget and submit it to the Board of Directors for
approval;

d. Submit to the Board of Directors an annual report and any other reports which it
may request;

e. Appoint and establish any advisory, consultative, execution and coordination

units for the Authority which the Authority may deem fit, subject to the prior
authorization of the Board of Directors and in accordance with the Authority's rules
of procedure;
f. Appoint the Authority's staff below the level of Deputy Commissioners;

g. Appoint, transfer, promote, suspend, terminate and remove staff members, in

accordance with the relevant provisions of the Labor Laws of Liberia and any other
governing laws of Liberia and the Authority's rules of personnel policies and
practices, as adopted by the Board;

h. Ensure that recommendations made by the Authority's Offices are the result of
coordination between and amongst them;

i. Perform all other functions and exercise all other powers specified in the
legislation and in the Authority's rules and regulations.

(4) Commissioner's Power of Appointment or Removal of Deputy

Commissioners. The Commissioner shall recommend to the President for
appointment of, subject to the approval by the Board of Directors of the Authority,
the Deputy Commissioners of the Authority to administer the principal divisions of
the authority and to assist the Commissioner in the performance of his duties as set
forth in this Act and the Liberian Maritime Law. The Commissioner may
recommend to the President, subject to the approval of the Board of Directors, the
removal of a Deputy Commissioner.

(4) Tenure of the Commissioner and Deputy Commissioners. The Commissioner of

Maritime Authority and the Deputy Commissioners of the Maritime Authority shall
have tenures of Five (5) years in order to ensure and preserve consistency in the
leadership. maintain continuity of purpose, increase the capacity in the industry,
and preserve the national and international relevance and very competitive nature
of the maritime program. The tenure of the Commissioner and the Deputy
Commissioners shall be renewable for only one additional four-year period upon
recommendation of the Board to the President for approval. No further renewal
shall be permitted or allowed beyond nine years.

(5) Status of Commissioners. The Commissioner and Deputy Commissioners shall

be employees of the Authority;

(6) Remunerations and Benefits of Commissioners. The remuneration and other

benefits of employment of the Commissioner and the Deputy Commissioners of the
Authority shall be set and approved by the Board of Directors of the Authority;

(7) Suspension and Removal of the Commissioner. The Commissioner shall be

subject to removal or suspension from his position by the President of Liberia, on
the recommendation of the Board, for nonperformance, for dishonesty, or any
offense in violation of the Liberian criminal laws or, as a result of the outcome of a
due process investigation, or a showing of complete disregard for international
treaties and conventions to which Liberia is a party, or on grounds of verified
physical, mental or administrative incapacity. Any suspension or removal shall be
without prejudice to any criminal sanctions which may be imposed upon trial and
conviction. Where the Commissioner is removed or-resigns his position, the Board
shall appoint one or more Deputy Commissioners to act as Commissioner pending
the recommendation of a replacement by the Board with the approval of the
President of Liberia.

PART III
CORPORATE EXISTENCE AND MANAGEMENT OF THE AUTHORITY

Section 8. A Body Corporate

(1) The Authority is a body corporate having perpetual existence and succession,
possessing a common seal, with power to purchase, lease or otherwise acquire and
hold and dispose of land and other property of whatsoever kind or nature.

(2) Service of process on the corporation shall be in keeping with the requirements
of the Associations Laws of the Republic of Liberia.

Section 9. Seal of the Authority

(1) The seal of the Authority shall be kept in the custody of an officer of the
Authority, approved by the Authority. Such officer shall be empowered to affix the
corporate seal to instruments pursuant to a resolution by the Board of Directors of
the Authority in the presence of an officer of the Authority designated by the
Commissioner and one other member.

(2) The seal of the Authority must be authenticated by the signature of the
Commissioner and one other member and the seal shall be officially and judicially
noticed.

(3) All documents, other than those required by law to be under seal, made by and
all decisions of the Authority may be signified under the hand of the Commissioner
or an employee/officer of the Authority as designated by the Commissioner.

Section 10. Constitution of the Board of Directors

(1) Appointment of Members of the Board. The Board of Directors of the Authority
shall consist of a Chairman and six other members appointed by the President, two
of whom shall have experience in matters relating to maritime affairs and the
maritime industry and commerce, and three of whom shall be statutory members
from the following Ministries of Government, namely: the Ministry of Finance, the
Ministry of Justice, and the Ministry of Transport. The President shall appoint the
Chairman of the Board, and the Vice Chairman shall be elected by the members of
the Board of Directors.

(2) Eligibility for Membership on the Board. To be eligible for non-statutory

membership to the Board of Directors of the Authority, a person shall meet the
following criteria:

a. be of Liberian nationality and of recognized integrity and industry experience

and/or experience in an administrative capacity;

b. be at least 30 years of age,

c. not have been convicted by a court for fraud or any other felony offence,
including corruption.

Section 11. Tenure of the Members of the Board of Directors

A non-statutory member of the Board of Directors of the Authority shall hold office
for a period of three years, provided, however, that such member (excluding the
Chairman) shall be eligible for reappointment for no more than two successive
terms.

Section 12. Resignation, Suspension or Removal of Members of the Board.

(1) Resignation. Any member of the Board of Directors of the Authority may at any
time resign his office by instrument in writing addressed to the President and from
the date of receipt by the President of such instrument, such member shall cease to
be a member of the Board of Directors of the Authority.

(2) Revocation of appointment. The President, by instrument in writing, may at any

time, revoke the appointment of a member of the Board of Directors of the
Authority if the President determines that it in the best interest of the Authority to
do so.

(3) The appointment, removal, death or resignation of any member of the Board of
Directors of the Authority shall be made public immediately following the event.
The replacement of a Board member shall be announced within sixty days of the
vacancy.

Section 13. Remuneration to Members of the Board.

There shall be paid from the funds of the Authority to the members of the Board of
Directors of the Authority such Board fees as the Board may determine, and such
remuneration is approved by the President.

Section 14. Meetings of the Board of Directors.

(1) Time of Meetings. The Board of Directors of the Authority shall meet at such
times as may be necessary or expedient, but not less than once every six months,
for the transaction of business and such meetings shall be held at the headquarters
of the Authority or at such places and times and on such days as the Chairman may
determine within the Republic of Liberia.
(2) Presiding Officer. The Chairman, or in his absence, the Vice Chairman, shall
preside at all meetings of the Authority.

(3) Quorum. The Chairman, or in his absence, the Vice Chairman, and three other
members (two of whom shall he statutory members) of the Board of Directors of
the Authority shall form a quorum.

(4) Votes. The decisions of the Board are by a majority of the votes of the total
membership of the Board. In addition to an original vote, in any case in which the
voting is equal, the presiding officer at the meeting shall have a casting vote.

(5) The minutes of each meeting of the Board of Directors of the Authority, made
in proper form, are to be kept by the Secretary or any other officer the Authority
duly appointed for that purpose and confirmed by the Authority. All such minutes
shall be attested to by the Chairman or a member of the Authority designated by the
Chairman, as the case may be.

(6) The Authority may co-opt any one or more persons to attend any particular
meeting of the Authority for the purpose of assisting or advising the Authority on
any matter with which the Authority is dealing, but no co-opted person shall have
the right to vote.

(7) Provided a quorum is present, the validity of any proceedings of the Authority
shall not be affected by any vacancy amongst the members of the Board or by any
defect in the appointment of a member thereof.

(8) Subject to the provisions of this Schedule, the Authority has the power to
regulate its own proceedings.

PART IV
OFFICERS AND EMPLOYEES OF THE AUTHORITY

Section 15. Transfer of Public Officers

(1) Every Public Officer of the BMA shall, upon the commencement of this Act, be
deemed to be transferred from the service of the BMA to the service of the
Authority, with their remuneration and conditions of service not less favorable than
those attached to their appointment under the BMA held by such officer on the
effective date of this Act.

(2) Nothing in this subsection shall be deemed to preclude an officer, deemed to be

transferred to the service of the Authority under this subsection, from applying at
any time during such period aforesaid, for a transfer to a Government Department
in accordance with the terms and conditions of service attached to the appointment
held by such officer on the effective date of this Act and, on such application being
made, the same consideration shall be given thereto as if the applicant had
continued to be in the service of the Government.

(3) During the period aforesaid, every such officer shall be so employed by the
Authority that his remuneration and conditions of service are not less favorable
than those attached to the appointment under the BMA held by such officer on the
effective date of this Act or which would have become attached to such
appointment, during such period as aforesaid, had such officer continued in the
service of the BMA; provided, however, that for the purposes of the pension and
gratuity, such period of service with the Authority shall pay to the BMA such
contributions in respect of the cost of pensions earned by such officers during such
period as aforesaid as may be determined by the Minister of Finance.

Section 16. Offer of Full Time Regular Employment to Public Officers.

(1) Within the period of one year after the passage of this Act, the Authority may
offer to any Public Officer transferred to the Authority under Section 15, permanent
employment with the Authority at a remuneration and on terms and conditions not
less favorable than those which are attached to their appointment under the BMA,
held by such officer on the effective date of this Act, or which would have become
attached to such appointment during such period aforesaid, had such officer
continued in the service of the BMA.

(2) Every Public Officer who accepts full time employment with the Authority,
offered to him under this section shall, for all purposes be deemed to have ceased to
be in the service of the BMA and to have entered into service with the Authority on
the date of his acceptance.

Section 17. Indemnification

The Authority shall indemnify its staff and employees from lawsuits under this Act
in the performance and execution of their duties and in carrying out any other
governmental functions proscribed under the Liberian Maritime Laws and
Regulations, provided the actions of said officers and employees are not
determined to be grossly negligent or criminal in nature.

Section 18. Staff

(1) Other positions, not requiring an appointment by the President of Liberia or
approval of the Board of Directors of the Authority, shall be filled by the Chief
Executive Officer or his designated official of the Authority in keeping with
Liberian Labor practices.

(2) (a) Where any Public Officer holding a pensionable office under the BMA
ceases to be the holder of such office by reason of his transfer with his consent to
the service of the Authority and such person subsequently retires from the service
of the Authority in such circumstances that, had he remained a public officer, he
would have been eligible for pension under the Pensions Act, then and in such case,
subsections (2.b) and (2.c) of this section shall be applicable.
(b) Any pension payable by the Authority to any person mentioned in subsection
(2.a), whose service has been transferred, shall be calculated and granted to him in
respect of his total service under the Government and with the Authority taken
together, and such service shall be reckoned as continuous for pension purposes.

(c) There shall be payable out of the Operational Fund, upon the directive of the
Board of Directors of the Authority, a contribution to every pension paid in
accordance with subsection (2.b), such amounts as would have been payable to the
person concerned by way of pension under the Pensions Act, if such person had
retired from the public service and if he has been granted a pension under the
Pensions Act upon the date of his ceasing to be a public officer.

PART V
FINANCIAL PROVISIONS

Section 19. Funds Collected

The Authority shall be responsible for the collection of the following taxes and
fees:

(1) All monies collected by LISCR or any succeeding Agent on behalf of the
Government, and due to the government. These monies shall be deposited into the
Government of Liberia's general revenue account with the Central Bank of Liberia,
and that thereafter, the Central Bank is duly authorized to pay directly to the
Authority, the budget of the Authority as approved by the Board, and the President
of the Republic of Liberia.

(2) All monies derived from Dividends from 1NMARSAT shares, the Liberian
Pleasure Watercraft Act, or any other law relating to powers and functions of the
Authority, including the Liberian Maritime Law or Liberian Maritime Regulations.
These monies shall be deposited into an Enterprise Fund of the Authority, and shall
only be utilized with the expressed prior approval of the Board, and that of the
President of the Republic of Liberia.

(3) All monies derived from Subsection (2), shall be declared according to the
provisions and requirements of the Laws of Liberia.

Funds and Resources of the Authority

(1) any monies that are advanced to the Authority pursuant to Section 22;

(2) any monies and property that may in any manner be lawfully owned, conveyed,
transferred, assigned, bequeathed to or vested in the Authority;

(3) Funds under the approved budget of the Authority; and

(4) any monies borrowed by the Authority pursuant to Section 21.

Section 20. Authority to Meet Expenditure Out of Revenue

Funds and revenues of the Authority shall be applied in the discharge of all
expenditures properly incurred in carrying out the functions mentioned in
subsections (1) to (6) of Section 6, in the repayment of any sums borrowed under
Section 21 and for disbursements towards the remuneration and allowances to the
officers, employees and members of the Authority. The Authority may, with the
approval in writing of its Board of Directors, borrow or raise money, in such
manner, from such person, body or authority, under such terms and conditions, and
against such security, as it may deem appropriate, for meeting any of its obligations
or discharging any of its functions under this Act. All borrowings under this Act
shall be in conformity with prevailing Liberian laws governing public
corporations.

Section 21. Power to Borrow Capital.

The Authority shall have the power to borrow capital in the exercise and discharge
of its duties and functions in a manner and way as described and approved of by the
Board of Directors and in conformity with the laws prevailing in Liberia at the time
of the transaction.

Section 22. Advances of Guarantee of Borrowings by the Government of Liberia.

(1) The Ministry of Finance may, at the request of the Board of Directors of the
Authority guarantee in any such manner and on any conditions as the Ministry
deems fit, the repayment of the principal of, and the payment of interest and other
charges on, any authorized borrowings of the Authority made under Section 21;

(2) Where any sum is paid pursuant to a guarantee given under this section, the
Board of Directors of the Authority shall as soon as possible after the end of each
financial year beginning with that in which the sum is secured and ending with that
in which all liability in respect of the principal of the sum and in respect of interest
thereon is finally discharged, lay before the President a statement relating to that
sum;

(3) Any sums required by the Ministry of Finance for making, advancing, and
discharging any guarantees under this section shall be charged on and out of the
Authority's operational account.

Section 23. Repayment and Interest on Advance and Sums Issued to Meet
Guarantee.
The Board of Directors is empowered to authorize the Commissioner to effect
payments of any amounts as may be directed in or towards repayment of any sums
issued in fulfillment of any guarantee given under Section 22 and payments of
interest on what is outstanding for the time being in respect of any sums so issued
at such rate and at such times and in such manner as they may direct, and different
rates of interest may be directed in respect to different periods.

Section 24. Annual Budget and Funding of the Authority

The Authority shall prepare an annual budget in respect of its activities in such
form as the Board of Directors may direct. The Authority shall submit to its Board
of Directors its annual budget on or before the first day of December of each year.

Section 25. Accounts and Audits

The Authority shall keep proper accounts and other financial records, in keeping
with international financial reporting standards, regarding its activities, and shall
prepare in respect of each financial year a statement of accounts;

(1) The Authority shall submit a copy of the audited accounts to the Board of
Directors with a copy of any report made by the auditor for each financial year.

(2) No later than three months after the end of each financial year, the Authority
shall submit a copy of the audited accounts to the President of Liberia and the
National Legislature, together with a copy of any report made by the auditor and
other appropriate authorities.

Section 26. Annual Report

(1) The Authority shall, after the expiration of each financial year, prepare annual
report and submit to the President within three months in conformity with
prevailing laws in Liberia.

(2) The President shall cause a copy of every such report to be laid before both
Houses of the Legislature.

PART VI
TRANSFER OF CERTAIN ASSETS TO THE AUTHORITY

Section 27. Transfer of Assets of the Authority.

(1) The movable and immovable properties and undertakings owned by the
Government and used by it for the operation of the offices of the Bureau of
Maritime Affairs ("BMA"), shall immediately on the date of the coming into force
of this Act, and by virtue of this Act, be transferred to and vested in the Authority
for the same purpose as they were held by the BMA prior to the said date. The
Government of Liberia shall effect the said transfers by the execution of the
appropriate transfer instruments to immediately operationalize the functions,
powers and objectives of the Authority stated in this Act.

(2) The transfer and vesting aforesaid shall extend to the whole of such movable
properties and undertakings and shall include assets, powers, rights, and privileges
and all things necessary or ancillary thereto previously held or enjoyed in
connection therewith or appertaining thereto by the BMA, as well as all obligations
affecting or relating to any of the aforesaid movable property or undertakings or
other things included therein as aforesaid.

PART VII
TRANSITIONAL PROVISIONS

Section 28. Enforceability of prior Acts, Provisions and/or Arrangements

(1) Subject to the provisions of this Act, all laws, rules, regulations, orders,
judgments, decrees, awards, deeds, bonds, contracts, agreements, instruments,
documents, warrants and other arrangements subsisting immediately before the
date of coming into force of this Act, affecting or relating to any of the movable
properties or undertakings transferred to the Authority, shall be enforceable fully
and effectually, as if instead of the BMA the Authority has been named therein or
had been a party thereto, and otherwise its substitution of the BMA.

(2) Where anything has been commenced by or under the authority of the BMA
prior to the date of the coming into force of this Act and such thing relates to any of
the movable properties or undertakings or any right or liability transferred to the
Authority by or under authority of this Act, such thing may be carried on and
completed, as authorized, by the Authority.

(3) Where immediately before the coming into force of this Act, any legal
proceedings are pending to which the BMA is or is entitled to be a party, and such
proceedings are related to any of the movable properties or undertakings, or any
right or liability transferred by or under this Act, the Authority shall, as from the
date aforesaid, be substituted in such proceedings for the BMA or shall be made a
party thereto in like manner as the BMA could have become, and such proceedings
shall not abate by reason of the substitution.

(4) Any reference in any other law to the Commissioner of the BMA shall in each
case be read and construed as a reference to the Commissioner of the Liberia
Maritime Authority, appointed under this Act.

(5) Statute of Limitations. The Statute of Limitation Act shall apply to any action,
suit, prosecution or other proceeding against the Authority or against any member,
officer or servant of the Authority in respect of any act, neglect or default done or
committed by him in such capacity.

PART VIII
REPEALERS

The following statutes and the provisions of the following laws and decrees, listed
below, are hereby amended or repealed in so far as they relate to the establishment
of the bodies, agencies and offices which, pursuant to Part III, are integrated into
the Authority or whose functions and activities have been taken over by the
Authority under this Act:

Sections 37.1 of An Act to Amend the Executive Law, Title 12, Liberian Code of
Laws Revised to Create a Ministry of Transport within the Executive Branch of
Government, which provided for a Deputy Minister for Maritime Affairs/Shipping
is amended to delete there from all reference to the creation of the position of a
Deputy Minister for Maritime Affairs/Shipping within the Ministry of Transport;

Section 37.2 of An Act to Amend the Executive Law, Title 12, Liberian Code of
Laws Revised to Create a Ministry of Transport within the Executive Branch of
Government, which provided for a Division of Maritime Affairs/Shipping is hereby
amended to delete all reference to a Division of Maritime Affairs/Shipping within
the Ministry of Transport, all functions previously exercised being transferred to
the Authority;

Section 37.3, subsection (a) of An Act to Amend the Executive Law, Title 12,
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government, which empowered the Minister of Transport to
administer and implement the Maritime Law and to plan and execute policies
relating to all modes of sea services within the Republic of Liberia and abroad is
amended to remove all such powers the administration and implementation of the
Maritime Law and to plan and execute policies relative to the modes of sea services
from the Minister of Transport and to vest the same in the Authority.

Section 37.3, subsection (b) of An Act to Amend the Executive Law, Title 12,
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government, which vested in the Minister of Transport the
power to represent the Government's interest in negotiations relating to shipping,
international shipping and maritime conferences is hereby repealed in its entirety
and all such powers are herewith vested in the Authority;

Section 37.3, subsection c, of An Act to Amend the Executive Law, Title 12,
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government, which vested in the Minister of Transport the
power to collect, collate, evaluate and publish data relating to land, rail, sea and air
transport services is hereby amended to delete therefrom all reference to sea
services, the said functions now being vested in the Authority;

Section 37.3, subsection d, of An Act to Amend the Executive Law, Title 12,
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government, which vested in the Minister of Transport the
power to establish rules and procedures and enforce standards, and to develop,
regulate and control and monitor boats, ships, fishing vessels, ferries, canoes and
all sea related activities is hereby amended to delete there from and such reference,
such powers and functions now being vested under this Act in the Authority;
Section 37.3, subsection g, of An Act to Amend the Executive Law, Title 12,
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government, which vested in the Minister of Transport the
power to regulate the use of inland waterways and rivers, ships flying the Liberian
flag in domestic and foreign commerce, as well as modes of watercrafts for civil
transport, is hereby repealed in its entirety, the said powers and functions now
being vested in the Authority;

Section 37.3, subsection I, of An Act to Amend the Executive Law, Title 12,
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government, which vested in the Minister of Transport the
power to regulate the use of ports and harbors and other acts affecting shipping, is
hereby repealed, the said functions now being vested in the Authority.

Sections 37.5 and 37.6 of An Act to amend the Executive Law, Title 12, The
Liberian Code of Laws Revised to Create a Ministry of Transport within the
Executive Branch of Government providing for the transfer of the Bureau of
Maritime Affairs from the Ministry of Finance to the Ministry of Transport and for
the Management of the Liberian Shipping Corporation to be vested in a Board of
Directors chaired by the Minister of Transport are hereby repealed in their entirety
and the functions vested in the Authority in keeping with Section 2 of the act
establishing the Bureau of Maritime Affairs;

Chapter 56 of the Executive Law, Liberian Code of Laws Revised, creating the
Liberia Shipping Corporation within the Executive Branch of Government, is
hereby repealed, and all functions and powers are transferred to the Authority in
keeping with Section 2 of the act establishing the Bureau of Maritime Affairs;

An Act of the National Legislature Approved June 20, 1989, Published June 23,
1989 Making the Bureau of Maritime Affairs an Autonomous Agency Within the
Executive Branch of Government is hereby repealed in its entirety and replaced
with this Maritime Authority Act;

An Act Amending An Act of the National Legislature Approved June 20, 1989,
Published June 23, 1989 Making the Bureau of Maritime Affairs an Autonomous
Agency Within the Executive Branch of Government to Provide Funds for the
Support of the Annual Budget of the Bureau of Maritime affairs, Approved March
12, 1998, Published March 18, 1998, is hereby repealed in its entirety and replaced
with this Maritime Authority Act.

ANY LAW TO THE CONTRARY NOTWITHSTANDING

Approved: September 6th, 2010
Published: September 22nd, 2010