(1) Any mechanically propelled inland vessel, which is wholly owned by---
(a) a citizen of India; or
(b) a co-operative society registered or deemed to be registered under the Co-operative Societies Act, 1912 (2 of 1912); or
(c) a body established under any Act relating to co-operative societies for the time being in force in any State; or
(d) a company registered under the Companies Act, 2013 (18 of 2013); or
(e) a partnership firm registered under the Limited Liability Partnership Act, 2008 (6 of 2009); or
(f) any other body including a partnership firm, trust or societies established by or under any Central or State enactment and which has its principal place of business in India;
(g) any legal business combination, otherwise allowed under the existing commercial law for the time being in force in India, within the permissible foreign direct investment limits in the sector and having its principal place of business in India,
shall be registered under the provisions of this Act.
(2) A foreign vessel, other than vessels registered or obligated to register under the Merchant Shipping Act, 1958 (44 of 1958), chartered on bareboat charter-cum-demise by an Indian charterer, for the purposes of plying exclusively within inland waters, shall be registered under the provisions of this Chapter.
(3) The inland vessels registered under this Act may also be registered under the Merchant Shipping Act, 1958 (44 of 1958).
Explanation.---For the purposes of sub-section (2), "Indian charterer" shall mean a person referred to in clauses (a) to (g) of sub-section (1), who has chartered a vessel on bareboat charter-cum-demise contract.