Regulation 53M Abandonment security requirement applicable to all shipsF1
(1)
A ship must not be operated unless—
(a)
in the case of a ship in a category described in regulation 3(1)(a) or (b), an abandonment security is in force in relation to the ship; or
(b)
in the case of a ship in the category described in regulation 3(3), financial security is in place for the ship in accordance with paragraph 3 of standard A2.5.2 of the MLC (financial security for abandoned seafarers).
(2)
A breach of paragraph (1) is an offence by the shipowner.