46 CFR §535.311

1. (a)Low market share agreement means any agreement among ocean common carriers which contains none of the authorities listed in § 535.502(b) and for which the combined market share, based on cargo volume, of the parties in any of the agreement's sub-trades is either:
   1. (1)Less than 30 percent, if all parties are members of another agreement in the same trade or sub-trade containing any of the authorities listed in § 535.502(b); or
   2. (2)Less than 35 percent, if at least one party is not a member of another agreement in the same trade or sub-trade containing any of the authorities listed in § 535.502(b).
2. (b)Low market share agreements are exempt from the waiting period requirement of the Act and this part, and are effective on filing.
3. (c)Parties to agreements may seek a determination from the General Counsel, as to whether a proposed agreement meets the general definition of a low market share agreement.
4. (d)The filing fee for low market share agreements is provided in § 535.401(g).