Document ID: chunk:federal_register_of_legislation:C2024C00673:section:11
Version: federal_register_of_legislation:C2024C00673
Segment Type: section
Provision Reference: s 11
Character Range: 28468–29687

11  Registration of property in ships
 (1) For the purposes of the registration of a ship:
 (a) the property in the ship shall be divided into 64 shares;
 (b) subject to paragraph (c), subsection (2) and section 37, the number of persons registered as owners of the ship shall not at any time exceed 64, but nothing in this paragraph affects the beneficial interests of any number of persons or of a body corporate represented by or claiming under or through a registered owner (including a registered joint owner);
 (c) any number of persons not exceeding 5 may be registered as joint owners of the ship or of a share or shares in the ship;
 (d) a joint owner of the ship or of a share or shares in the ship is not entitled to dispose of his or her interest in severalty;
 (e) a person shall not be registered as the owner of a fractional part of a share in the ship; and
 (f) a body corporate shall be registered as owner by its corporate name.
 (2) For the purposes of paragraph (1)(b), where a share in a ship is jointly owned, or 2 or more shares in a ship are jointly owned by the same persons, the joint owners of that share, or of those shares, as the case may be, shall be treated as constituting one person.