Russia's Lower House completes final reading of draft law on marine ports

Russia's Lower House (State Duma) of the Russian Federation has finally approved the "Law on Marine Ports and Introducing Amendments in Particular Legislative Acts" in the third reading, according to SeaNews.

The document has drawn a division line between a marine port as a property complex and the organizations operating on its premises. Besides, the draft law stipulates legal regimes of exploitation of land sites and aquatic species in marine ports.

It also provides for private, state and municipal ownership of the land sites inside a marine port.

At the same time, the draft law stipulates a ban on private ownership in marine ports for foreigners, stateless persons and foreign businesses. The draft law also covers particular conditions of the land sites leasing, including leasing and investment agreements as regards objects of marine ports' infrastructure which belong to the federal property.

Vessels insurance

Along with the above, the Lower House has approved a draft law on Russian vessels' insurance. The draft law annexes Article 4 of the law "On Organization of Insurance Business in Russia" and adds up a regulation stipulating that the restrictions as to approved insurers should not be applied to insurance cases connected with trade seafaring of vessels enlisted in the Russian International Register.