# Merchant Shipping(Liner Conferences) Act 1982, Paragraph 1


Exchange rate changes, including formal devaluation or revaluation, which lead to changes in the aggregate operational costs and/or revenues of the shipping lines members of a conference relating to their operations within the conference provide a valid reason for the introduction of a currency adjustment factor or for a change in the freight rates. The adjustment or change shall be such that in the aggregate the member lines concerned neither gain nor lose, as far as possible, as a result of the adjustment or change. The adjustment or change may take the form of currency surcharges or discounts or of increases or decreases in the freight rates.

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Source: https://www.legislation.gov.uk/ukpga/1982/37/schedule/part/ONE/chapter/IV/crossheading/article-17-currency-changes/paragraph/1 (the official version)
Page: https://openlegislation.uk/merchant-shippingliner-conferences-act-1982/schedule/part-ONE/chapter-IV/crossheading-article-17-currency-changes/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.