KUWAIT CITY, April 7: The Touristic Enterprises Company (TEC) announced on Monday that it has updated its marina regulations to enhance transparency and fairness in the allocation and leasing of marina spaces, ensuring their optimal use for the benefit of all stakeholders.

In a press statement, the company explained that the amendments aim to improve the efficiency of marina operations by establishing clear regulations for their use. These measures are designed to guarantee transparency, equal opportunities, and fair distribution, while minimizing practices that could undermine these principles.

The updated regulations also focus on promoting good governance in the management of marine facilities, in line with best practices and internationally recognized standards. TEC added that these changes aim to address several negative practices observed in recent times, such as subleasing, monopolizing marina spaces to drive up prices, and illegal speculation on the black market. Such practices have been harmful to users' interests and violate the principle of equal opportunity.

To combat these issues, the new regulations include specific and fair controls. For example, a member's name must match the boat ownership document and insurance policy, although an exception is made for boats registered under the name of a first-degree relative. Additionally, heirs may transfer the berth to a third party, and free sub-memberships linked to the original membership are available for relatives.

The updates also stipulate a fine if the insurance policy is not renewed and allow for the withdrawal of a berth 60 days after the end of the grace period for subscription payments. Furthermore, new members will not be allowed to transfer their berth until one year has passed from the date of their membership.

TEC reaffirmed its commitment to the continuous development and regulation of marinas to provide a fair and secure environment for all users. By adopting best operational practices, the company aims to enhance the sustainability of services and safeguard members' rights.

The company emphasized that the updated marina regulations represent a crucial step toward better governance in the sector, ensuring a more transparent and efficient operational framework. TEC called on all users to review the new regulations and adhere to their provisions, emphasizing that these amendments are designed to protect the interests of users and provide a more sustainable management framework for marina operations.