(1) Where a ship, other than an exempt ship, - (a) is owned by - (i) a person who is a qualified person; or (ii) persons each of whom is a qualified person; and (b) is not registered in any other country, the owner or those owners shall apply for registration of the ship under this Act. (2) Where a ship, other than an exempt ship, - (a) is a foreign vessel engaged in foreign trade as defined in this Act; and (b) is not registered in any other country, and (c) is owned by a person defined as a foreign owner or any legal entity having the legal capacity to own a vessel as the Cabinet may, by regulations prescribe, the owner or owners of the ship may apply for registration of the ship under this Act.

(6) A licence must not be issued to a fishing craft under this section, unless that fishing craft is in good standing on the Regional Register.

"Regional register" is defined in Scetion 2 as the Regional Register of Foreign Fishing Vessels maintained by the South Pacific Forum Fisheries Agency at Honiara, Solomon Islands.

(1) Cabinet may cancel a licence issued under this Act, or suspend such a licence for the period determined by Cabinet if – (a) The licence is, or becomes, inconsistent with the requirements of a management and development plan; or (b) The fishing craft in respect of which it is issued, or the owner, charterer or the master of the fishing craft, has contravened – (i) A provision of this Act; or (ii) A condition of the licence; or (iii) If the licence was issued under an access agreement, a provision of the agreement; or (c) A payment due under, or in respect of, the licence is outstanding; or (d) The fishing craft’s good standing on the Regional Register is suspended or withdrawn; or (e) The fishing craft, or the owner, charterer or master of the fishing craft has been engaged in driftnet fishing; or (f) There is a driftnet on board the fishing craft.