(1) The Administration may exempt any vessel which
embodies features of a novel kind from any of the requirements of
chapters II, III, IV, V, VI and VII, the application of which might
seriously impede research into the development of such features and
their incorporation in vessels. Any such vessel shall, however, comply
with safety requirements which, in the opinion of that Administration,
are adequate for the service for which it is intended and are such
as to ensure the overall safety of the vessel.
(2) Exemptions from the requirements of chapter
IX are dealt with in regulation IX/3 and
exemptions from chapter X are dealt with in regulation
X/2.
(3) The Administration may exempt any vessel engaged
solely in fishing near the coast of its country from any of the requirements
of this annex if it considers that the application is unreasonable
and impracticable in view of the distance of the vessel operating
area from its base port in its own country the type of vessel, the
weather conditions and the absence of general navigational hazards,
provided that it complies with safety requirements which, in the opinion
of that Administration, are adequate for the service for which it
is included and are such as to ensure the overall safety of the vessel.
(4) The Administration which allows any exemption
under this regulation shall communicate to the Organization particulars
of the same to the extent necessary to confirm that the level of safety
is adequately maintained and the Organization shall circulate such
particulars to the Parties for their information.