The written agreement by which an organization receives authorization from the Coast Guard places it under certain obligations if the Coast Guard revokes that authorization. The organization agrees to send written notice of its termination to all responsible persons, companies and vessels that have received certificates from the organization. In that notice, the organization must include -
(a) A written statement explaining why the organization's authorization was terminated by the Coast Guard;
(b) An explanation of the status of issued certificates;
(c) A current list of organizations authorized by the Coast Guard to conduct safety management audits; and
(d) A statement of what the companies and vessels must do to have their safety management systems transferred to another organization authorized to act on behalf of the U.S.