Sec. 3.10  Basic qualifications.

    (a) Applicants must meet the requirements and conditions contained 
in these rules in order to be certified as an accounting authority. No 
individual or other entity, including accounting authorities approved by 
other administrations, may act as a United States

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accounting authority and settle accounts of U.S. licensed vessels in the 
maritime mobile or maritime mobile-satellite services without a 
certification from the Federal Communications Commission. Accounting 
authorities with interim certification as of the effective date of this 
rule must submit to the application process discussed in Sec. 3.20. They 
will be ``grandfathered'', i.e, granted permanent certification provided 
they demonstrate their eligibility and present a proper application.
    (b) U.S. citizenship is not required of individuals in order to 
receive certification from the Commission to be an accounting authority. 
Likewise, joint ventures need not be organized under the laws of the 
United States in order to be eligible to perform settlements for U.S. 
licensed vessels. See, however, Sec. 3.11.
    (c) Prior experience in maritime accounting, general commercial 
accounting, international shipping or any other related endeavor will be 
taken into consideration by the Commission in certifying accounting 
authorities. The lack of such expertise, however, will not automatically 
disqualify an individual, partnership, corporation or other entity from 
becoming an accounting authority.
    (d) Applicants must provide formal financial statements or 
documentation proving all assets, liabilities, income and expenses.
    (e) Applicants must be willing to offer their services to the public 
at a reasonable charge. This requirement will be waived for applicants 
who settle their own accounts only and are eligible to be 
``grandfathered'' during the initial application period. However, should 
the need for additional accounting authorities be proven, these 
accounting authorities will be required to offer their services to the 
public or relinquish their certification.