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How does MCA retain oversight of a UK ship enrolled on the Alternative Compliance Scheme?

UK Ship Register News of 16 March 2010 stated that the ACS allows the MCA to retain oversight of the ship through ISM audits and general inspections, whilst delegating all “hardware surveys” (for example the Cargo Ship Safety Equipment survey) to those classification societies authorised by the UK.

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What certificate will be issued to an existing UK ship enrolling on the Alternative Compliance Scheme?

What criteria must be met for a ship to enroll on the Alternative Compliance Scheme?