Public Law 14-89

CBL 14-239 FOURTEENTH CONGRESS OF THE FEDERATED STATES OF MICRONESIA FIFTH REGULAR SESSION, 2006 CONGRESSIONAL BILL NO. 14-222 P.C. NO. 14-328 PUBLIC LAW NO. 14-89 AN ACT To further amend title 19 of the Code of the Federated States of Micronesia, as amended, by amending section 302, as amended by Public Law No. 10-137, to eliminate the requirement that a vessel must begin and end the majority of its voyages in the Federated States of Micronesia in order to be registered in the Federated States of Micronesia, and for other purposes. BE IT ENACTED BY THE CONGRESS OF THE FEDERATED STATES OF MICRONESIA: Section 1. Section 302 of title 19 of the Code of the 1 Federated States of Micronesia, as enacted by Public Law 2 No. 10-76 and amended by Public Law No. 10-137, is hereby 3 further amended to read as follows: 4 "Section 302. Qualifications for vessel 5 registration. 6 (1) For the purposes of this title, a Qualified 7 Person is: 8 (a) a person who is a citizen of the 9 Federated States of Micronesia, or a corporation 10 which is established in accordance with the laws of 11 the Federated States of Micronesia or any of its 12 States, wholly owned by citizens, whose principal 13 place of business is in the Federated States of 14 Micronesia; 15 (b) a person holding a current and valid 16 foreign investment permit duly issued by the 17 CONGRESSIONAL BILL NO. 14-222 P.C. NO. 14-328 PUBLIC LAW NO. 14-89 2 of 3 National Government to operate a vessel in 1 interstate or international commerce who or which 2 has its principal place of business in the 3 Federated States of Micronesia; or 4 (c) the National and State Governments of the 5 Federated States of Micronesia and their 6 instrumentalities. 7 (2) The Registrar shall require the production of 8 satisfactory documentary evidence demonstrating 9 that the owner is a Qualified Person and the vessel 10 meets the requirements for registration. 11 (3) Ownership of any share of a vessel by a 12 person who is not a Qualified Person shall 13 constitute cause for removal of the vessel from the 14 Register and forfeiture to the National Government. 15 (4) A vessel which has ceased to meet the 16 requirements for registration under this chapter 17 shall be struck off the Register. 18 (5) Any person who is not a Qualified Person who 19 purports to be a Qualified Person for the purpose 20 of registering a vessel under this title commits a 21 national offense punishable by a fine not exceeding 22 $100,000 or imprisonment of not more than 1 year, 23 or both." 24 25 CONGRESSIONAL BILL NO. 14-222 P.C. NO. 14-328 PUBLIC LAW NO. 14-89 3 of 3 1 Section 2. This act shall become law upon approval by 2 the President of the Federated States of Micronesia or upon 3 its becoming law without such approval. 4 5 6 7 8 , 2006 9 10 11 OVERRIDE 11/9/06 12 13 14 Joseph J. Urusemal President 15 Federated States of Micronesia 16 17 18 19 20 21 22 23 24 25 CONGRESSIONAL BILL NO. 14-222 P.C. NO. 14-328 PUBLIC LAW NO. 14-89 4 of 3 1