(1) No vessel shall be an Indian vessel unless such vessel is owned by any of the following persons and in such proportion of ownership as may be notified by the Central Government, namely:---
(a) a citizen of India including a Non-Resident Indian or an Overseas Citizen of India; or
(b) a company or a body established by or under any Central Act or State Act having its registered office or principal place of business in India; or
(c) such other person or body as the Central Government may, by notification, specify in this behalf.
(2) No vessel which is wholly owned by an Overseas Citizen of India shall be required to be registered as an Indian vessel.
(3) The Central Government may, by notification, declare any port or place as a port of registry under this Act and every Indian vessel shall be registered under this Part.
(4) Any vessel registered at a port in India under any enactment repealed by this Act shall, at the commencement of this Act, be deemed to have been registered under this Act and recognised as an Indian vessel.
(5) Subject to any exemptions or modifications made by the Central Government, all vessels belonging to the Government, other than vessels of the Indian Navy, Indian Coast Guard, customs authorities, Central Armed Police Forces and police, shall be registered under this Act.
(6) Notwithstanding anything contained in this section, an Indian vessel may be registered in a State other than India subject to such conditions as may be prescribed.
(7) Any Indian vessel proceeding to sea without a valid certificate of registration under this Act shall be detained until a valid certificate of registration is produced to the proper officer.
(8) A vessel other than an Indian vessel abandoned in Indian waters which is subsequently acquired by an entity eligible to register a vessel under this Act may be registered under this Act in accordance with such procedure as may be prescribed.