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].