(1) Every owner of a fishing vessel, processing plant or storage premises for marine products or conveyance used for the transport of marine products shall, before the expiration of one month from the date on which he first became owner of such fishing vessel, processing plant, storage premises or conveyance, or before the expiration of three months from the date of coming into force of this section, whichever is later, apply to the Authority for registration under this Act of every such fishing vessel, processing plant, storage premises, or conveyance owned by him:
Provided that the Authority may, for sufficient reason, extend the time-limit for registration by such period as it thinks fit.
(2) Registration once made shall continue to be in force until it is cancelled by the Authority.