{"data":{"id":"us/46-cfr-295.22","jurisdiction":"us","citation":"46 CFR 295.22","heading":"Commencement and termination of operations.","body":"(a) Time frames. A Contractor that has been awarded a MSP Operating Agreement shall commence operations of the Eligible Vessel, under the applicable agreement or a subsequently renewed agreement, within the time frame specified as follows:\n(1) Existing vessel. Within one year after the initial effective date of the MSP Operating Agreement in the case of a vessel in existence on that date and after notification to MARAD within 30 days of the Contractor's intent; or\n(2) New building. Within 30 months after the initial effective date of the MSP Operating Agreement in the case of a vessel to be constructed after that date.\n(b) Unused authority. In the event of a termination of unused authority pursuant to paragraph (a) of this section, such authority shall revert to MARAD.","path":["Title 46—Shipping","CHAPTER II—MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION","SUBCHAPTER C—REGULATIONS AFFECTING SUBSIDIZED VESSELS AND OPERATORS","PART 295—MARITIME SECURITY PROGRAM (MSP)","Subpart C—Maritime Security Program Operating Agreements"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-46.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:22Z","sha256":"24fc732e35a67da62b55091f02df4dab0e67319f2be0692f314f6a57df3833dd","source_id":"us-cfr","stale":true,"prev":"us/46-cfr-295.21","next":"us/46-cfr-295.23"},"notice":"GroundRules: Original legal text. Not legal advice."}