This section has no associated Explanatory Memorandum
5. In regulation 57I (interpretation of Part 6), for paragraph (1)(a) substitute—
“(a)“owned” by a person if—
(i)the legal title to the ship, or to any share in the ship, is vested in the person, or in a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by that person, or
(ii)the person, or a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by that person, has a beneficial interest in the ship or in any share in the ship; and”.