On Monday 11 September, The Red Ensign Group (REG) will enter the final stage of industry consultation for the consolidation of the Large Yacht Code and the Passenger Yacht Code (REG Yacht Code) when it begins an Industry Stakeholder Engagement Exercise. The engagement exercise will last for five weeks and conclude on 13 October.
“We are in the final stage of formatting and editing what we consider to be the final draft of the new code,” explains Jo Assael, Yacht Codes Specialist for the Cayman Registry. ‘It will be going live on the REG website over the weekend ready for the consultation period to begin on Monday.”
The new code, which was originally due to be presented to the industry at the Monaco Yacht Show 2017, will now be launched at The Superyacht Forum in Amsterdam from 13-16 November. The delay stems from the desires of industry stakeholders to see all editions and amendments within a drafted code.
“The industry was very clear. We had originally developed a change table that showed amendments to be made a paragraph at a time,” continues Assael. “However, being an international community, it was not always clear how the amendments would affect change in the context of the entire document without being able to cross reference. Therefore, we have created this additional period of consultation to provide a completed document and the most clarity for the industry.”
The consultation, which will be hosted on the REG website, will provide stakeholders with an additional opportunity to understand how the new code will directly affect their sectors of the market, as well as being another chance to let REG know if they disagree with an amendment, if any amendments are inappropriate, if it has gone too far in some areas or not far enough in others.
The new REG Code will consolidate the existing LY3 and PYC codes to address the needs of the large yacht industry. The new Red Ensign Group Yacht Code will be a code of 2 parts with common annexes such as for helicopter landing areas, over-side working systems and sailing vessels enabling builders and designers to continue to recognise the familiar formats of the existing REG Codes.
An updated version of LY3 in ‘Part A’ will continue to be applicable to yachts which are 24 metres and over in load line length, are in commercial use for sport or pleasure, do not carry cargo and do not carry more than 12 passengers. ‘Part B’ will consist of the latest version of the PYC applicable to pleasure yachts of any size, in private use or engaged in trade, which carry more than 12 but not more than 36 passengers and which do not carry cargo.
To attend the official unveiling, and presentation of the REG Yacht Code, join REG and The Superyacht Group team at The Superyacht Forum, 13-16 November. If you wish to join the Industry Stakeholder Engagement Exercise click here.
If you like reading our Editors' premium quality journalism on SuperyachtNews.com, you'll love their amazing and insightful opinions and comments in The Superyacht Report. If you’ve never read it, click here to request a sample copy - it's 'A Report Worth Reading'. If you know how good it is, click here to subscribe - it's 'A Report Worth Paying For'.