Registration of vessels under a charter contract

(1) Foreign vessels may be registered in IMMARBE under the terms of a charter contract. (2) IMMARBE shall, upon payment of the fees specified in the First Schedule, issue a special navigation and radio license to the vessel which shall be valid for two years, but may be extended from time to time for like periods as and when necessary upon cause being shown to IMMARBE. (3) In every case of registration under this section, a notarized copy of the charter contract and a certificate of freedom from registered encumbrances or a registered 46 lienholder’s letter of consent shall be delivered by the applicant to IMMARBE’s Head Office for record. (4) During the period of dual registration of a vessel at IMMARBE under this section, no title, deed, mortgage or other document relating to the said vessel shall be registered at IMMARBE, and all such documents shall be registered at the vessel’s original registry.