112 STAT. 1914
(9) striking "license" in paragraph (1) of subsection (e), as redesignated, and inserting "license, if required by subsection (a),";
(10) striking paragraph (3) of subsection (e), as redesignated, and redesignating paragraph (4) as paragraph (3); and
(11) adding at the end of subsection (e), as redesignated, the following:
"(4) No conference or group of 2 or more ocean common carriers in the foreign commerce of the United States that is authorized to agree upon the level of compensation paid to an ocean transportation intermediary, as defined in section 3(17)(A) of this Act, may -
"(A) deny to any member of the conference or group the right, upon notice of not more than 5 calendar days, to take independent action on any level of compensation paid to an ocean transportation intermediary, as so defined; or
"(B) agree to limit the payment of compensation to an ocean transportation intermediary, as so defined, to less than 1.25 percent of the aggregate of all rates and charges which are applicable under a tariff aud which are assessed against the cargo on which the intermediary services are provided.".
SEC. 117. CONTRACTS, AGREEMENTS, AND LICENSES UNDER PRIOR SHIPPING LEGISLATION.
Section 20 of the Shipping Act of 1984 (46 U.S.C. App. 1719) is amended by -
(1) striking subsection (d) and inserting the following:
"(d) EFFECTS ON CERTAIN AGREEMENTS AND CONTRACTS. - All agreements, contracts, modifications, licenses, and exemptions previously issued, approved, or effective under the Shipping Act, 1916, or the Shipping Act of 1984, shall continue in force and effect as if issued or effective under this Act, as amended by the Ocean Shipping Reform Act of 1998, and all new agreements, contracts, and modifications to existing, pending, or new contracts or agreements shall be considered under this Act, as amended by the Ocean Shipping Reform Act of 1998.";
(2) inserting the following at the end of subsection (e):
"(3) The Ocean Shipping Reform Act of 1998 shall not affect any suit -
"(A) filed before the effective date of that Act; or
"(B) with respect to claims arising out of conduct engaged in before the effective date of that Act filed within 1 year after the effective date of that Act.
Regulations.
"(4) Regulations issued by the Federal Maritime Commission shall remain in force and effect where not inconsistent with this Act, as amended by the Ocean Shipping Reform Act of 1998.".
SEC. 118. SURETY FOR NON-VESSEL-OPERATING COMMON CARRIERS.
Section 23 of the Shipping Act of 1984 (46 U.S.C. App. 1721) is repealed.
