Subject to F1the relevant provisions of the sanctions regulations, regulations 14 (British connection and representative persons for fishing vessels), 15 (Dispensations), and 36(2), (3) and (4) (Registration and refusal of registration of a ship), a ship shall be entitled to be registered only if the legal and beneficial title of the vessel are vested wholly in one or more of those persons qualified to be owners of a British fishing vessel by virtue of regulation 12.

Where any share in a vessel is beneficially owned jointly by persons not all of whom are qualified to be the owners of a British fishing vessel by virtue of regulation 12, then for the purposes of this Part, the whole of the share shall be treated as beneficially owned by persons who are not qualified by virtue of that regulation.