•   This Part sets up a system for regulating international liner cargo shipping services.

•   The main components of that system are as follows:

  (a)   registration of conference agreements;

  (b)   regulation of non - conference ocean carriers with substantial market power;

  (c)   regulation of unfair pricing practices;

  (d)   registration of agents of ocean carriers.

•   The parties to a conference agreement relating to international liner cargo shipping services may apply for the registration of the agreement.

•   If the conference agreement is registered, the parties will be given partial and conditional exemptions from:

  (a)   sections   45AF, 45AG, 45AJ and 45AK (cartel conduct); and

  (b)   section   45 (contracts etc. that restrict dealings or affect competition); and

  (c)   section   47 (exclusive dealing).

•   The parties to a registered conference agreement are required to negotiate with, and provide information to, representative shipper bodies.

•   The Commission may investigate whether grounds exist for the Minister to deregister a conference agreement.

•   The main ground for deregistration is a breach by the parties to the agreement of requirements imposed on them by this Part.