Article 1. Any trade association (meaning "trade association" as defined in Article 2 of Law No.191 of 1948;Trade Association Law;hereinafter the same) concerned with marine transportation shall, when it contemplates including in its business purposes any activity relating to arbitration or settlement of disputes of contracts for co-ownership of vessels, ship charter (including time charter), entrustment of ship operation, marine transportation, marine insurance or buying or selling of ships, or of disputes on average, or marine salvage of vessels in distress (all of the foregoing to be hereinafter referred to as maritime affairs), obtain the approval of the Minister of Transportation with regard to its articles of incorporation and its rules and regulations on arbitration or settlement of disputes (hereinafter referred to as arbitration rules).