Canada Shipping Act, 2001
Marginal note:Optional registration
47 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,
(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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