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].