Obligations of acquirers of vessels
55 Obligations of acquirers of vessels
A person who acquires a registered registrable vessel must, within 14 days after acquiring the vessel—
notify the responsible regulator of the acquisition in a form approved by the responsible regulator, and
pay the fee prescribed by the regulations, and
if the vessel is acquired in accordance with an order of a court in Australia or another legal process—give the responsible regulator evidence of the court order or process.
Maximum penalty—20 penalty units.
This section does not apply to the acquisition of a registered registrable vessel in a circumstance prescribed by the regulations.
This provision refers to the regulations (prescribed by the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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