"local fishing vessel" means a fishing vessel which is (a) registered or identified as such under the Merchant Shipping Act; and (b) wholly beneficially owned by one or more citizens Of Seychelles or by a company established under any written laws of which all of the shares are beneficially owned by citizens of Seychelles;

(7) The Authority may, in writing, refuse to grant an authorisation where the fishing vessel in respect of which the application is made- (a) is included in a list of vessels having engaged in, or supported, illegal, unreported or unregulated fishing established by a Regional Fishing Management Organisation or any other appropriate regional or international organisation; Fisheries Act, 2014 S 55 Implementation of international fishery conservation andmanagement measures (particularly Port State Measures Agreement

(1) The Authority may suspend, cancel or revoke a licence, permit or authorisation granted by it on any of the following grounds- (a) the suspension, cancellation or revocation is necessary or expedient for the management and conservation of fish resources; (b) a vessel or any gear in respect of which the licence, permit or authorisation was granted has been used, or any activity has been conducted, in contravention of this Act, any regulations made thereunder, or any terms and conditions of the licence, permit or authorisation; (c) a fishing vessel or gear does not comply with marking requirements as prescribed; or (d) the holder has been convicted of an offense under this Act.

The following provisions apply to, and in relation to, the registration of ships under this Part — (a) the property in a ship shall be divided into 64 shares; (b) subject to the provisions of this Act with respect to joint owners or owners by transmission, not more than 64 persons shall be entitled to be registered at the same time as owners of any ship but this provision shall not affect the beneficial title of any number of persons or of a corporation represented by or claiming under or through any registered owner or joint owner; (c) a person shall not be entitled to be registered as owner of a fractional part of a share in a ship but any number of persons, not exceeding five, may be registered as joint owners of a ship or of any share or shares in this ship; (d) joint owners shall be considered as constituting one person only as regards the persons entitled to be registered, and shall not be entitled to dispose severally of any interest in a ship, in respect of which they are jointly registered; and (e) a corporation shall be registered as owner by its corporate name.