54Obligations of disposers of vessels

#### 54 Obligations of disposers of vessels 54 Obligations of disposers of vessels > > (1) A relevant owner of a registered registrable vessel who disposes of the vessel must, immediately after disposing of the vessel— > > > > > (a) notify the responsible regulator of the disposal in a form approved by the responsible regulator, and > > > > > (b) give the person acquiring the vessel a copy of the form. > > > > Maximum penalty—20 penalty units. > > > (2) This section does not apply to the disposal of a registrable vessel— > > > > > (a) in accordance with an order of a court in Australia or another legal process, or > > > > > (b) in another circumstance prescribed by the regulations. > > **s 54:** Am 2008 No 59, Sch 1 \[27\] \[28\]. Rep 2012 No 90, Sch 1 \[19\]. Ins 2025 No 12, Sch 1\[52\].