55Obligations of acquirers of vessels

#### 55 Obligations of acquirers of vessels 55 Obligations of acquirers of vessels > > (1) A person who acquires a registered registrable vessel must, within 14 days after acquiring the vessel— > > > > > (a) notify the responsible regulator of the acquisition in a form approved by the responsible regulator, and > > > > > (b) pay the fee prescribed by the regulations, and > > > > > (c) 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. > > > (2) This section does not apply to the acquisition of a registered registrable vessel in a circumstance prescribed by the regulations. > > **s 55:** Rep 2008 No 59, Sch 1 \[29\]. Ins 2025 No 12, Sch 1\[52\].