A safety regulation is a rule concerning measures for the prevention of loss, issued by public authorities, stipulated in the insurance contract, prescribed by the insurer pursuant to the insurance contract, or issued by the classification society.
Periodic surveys required by public authorities or the classification society constitute a safety regulation under sub-clause 1. Such surveys shall be carried out before expiry of the prescribed time-limit.
When establishing the Safety Management System that is necessary to fulfil the assured’s obligation to comply with the International Safety Management Code as adopted by IMO, the assured shall ensure that the system includes instructions and procedures for the use and monitoring of lubricating oil, cooling water and boiler feed water. Cl. 3-25, sub-clause 2, shall not be applied.