Merchant Shipping (Registration of Ships) Act 2014
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Registration of property in ships | ||
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13. The Register shall include particulars of ships in accordance with regulations made under section 9 (3), including particulars relating to the property in a ship, in accordance with the following provisions: | ||
(a) the property in a ship shall be divided into 64 shares; | ||
(b) subject to this Act with respect to joint owners or owners by transmission, not more than 64 individuals shall be entitled to be registered at the same time as owners of any one ship, but this restriction shall not affect the beneficial title of any number of persons or of any company represented by or claiming under or through any registered owner or joint owner; | ||
(c) a person shall not be entitled to be registered as owner of a fractional part of a share in a ship, but any number of persons, not exceeding 5, may be registered as joint owners of a ship or of any share or shares therein; | ||
(d) joint owners shall be considered as constituting one person only as regards the persons entitled to be registered, and shall not be entitled to dispose in severalty of any interest in a ship or in any share therein in respect of which they are registered. |