Common use of Liability of Owners Clause in Contracts

Liability of Owners. (1) Subject to Subsection (2), where a person has a beneficial interest in a ship registered under this Act and that ship is registered in the name of some other person as owner, the person having the interest shall, as well as the registered owner, be subject to all pecuniary penalties imposed by this Act on the owners of 54 Section 45 Subsection (2) amended by No. 70 of 2006, s. 17.

Liability of Owners. (1) Subject to Subsection (2), where a person has a beneficial interest in a ship registered under this Act and that ship is registered in the name of some other person as owner, the person having the interest shall, as well as the registered owner, be subject to all a ll pecuniary penalties imposed by this Act on the owners of 54 Section 45 Subsection (2) amended by No. 70 of 2006, s. 17.