Protection against injurious pricing of vessels

In adopting the report by Mr SAINJON (ARE, F), the European Parliament approved the proposal for a regulation with the following amendments: - the regulation must enter into force on the same day as the Agreement respecting normal competitive conditions in the commercial shipbuilding and repair industry concluded within the framework of the OECD and will not apply to vessels contracted for prior to that date, except for vessels contracted for after 21 December 1994 and for delivery more than five years from the date of the contract, - the Commission may call for the early renegotiation of the OECD agreement if varying interpretations of the Shipbuilding Injurious Pricing Code were to jeopardize normal competitive conditions. The Commission must, if necessary, be prepared to consider invoking the withdrawal clause contained in Article 14 of the OECD Agreement. �