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Canada Shipping Act, 2001

Version of section 47 from 2003-01-01 to 2011-06-25:

Marginal note:Optional registration

 Unless they are registered, listed or otherwise recorded in a foreign state, the following vessels may be registered under this Part:

  • (a) a pleasure craft that is wholly owned by qualified persons;

  • (b) a vessel that is owned by a corporation incorporated under the laws of a foreign state if one of the following is acting with respect to all matters relating to the vessel, namely,

    • (i) a subsidiary of the corporation incorporated under the laws of Canada or a province,

    • (ii) an employee or a director in Canada of a branch office of the corporation that is carrying on business in Canada, or

    • (iii) a ship management company incorporated under the laws of Canada or a province; and

  • (c) a vessel that is in the exclusive possession of a qualified person under a financing agreement under which the person will acquire ownership on completion of the agreement.

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