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[Cites 0, Cited by 0] [Section 434] [Entire Act]

Union of India - Subsection

Section 434(2) in The Merchant Shipping Act, 1958

(2)It shall be the responsibility of the owner of every sailing vessel to bear the expenses incidental to the taking of the policy of insurance referred to in sub-section (1) and to pay the premiums for keeping it in force:Provided that the maximum amount which the owner of the sailing vessel shall be liable to pay by way of premiums per year shall not exceed-
(a)where the number of members of the crew is not more than ten, one hundred and fifty rupees;
(b)where the number of members of the crew is not more than ten, a sum calculated at the rate of fifteen rupees for each member of the crew.