(1) Every vessel covered under this Part shall be manned and carry onboard such fittings, material, appliances and apparatus, for safety, security and prevention of pollution, as may be prescribed:
Provided that in case of fishing vessels, such rules shall take into consideration the provisions of such international conventions and standards or parts thereof, as may be deemed necessary by the Central Government, including the Cape Town Agreement and C-188 Convention.
(2) Every owner of a vessel to which this Part applies, shall provide such policy of insurance as may be prescribed, for all persons employed as members of the crew of such vessel, against death or personal injury caused by accident arising in the course of their employment, for an amount which shall not be less than the amount specified by the Central Government.
(3) No vessel shall ply or proceed to sea unless it complies with the provisions of this section.
Explanation.---For the purposes of this section, "Cape Town Agreement" means the Cape Town Agreement of 2012 on the Implementation of the Provisions of the 1993 Protocol relating to the Torremolinos International Convention for the Safety of Fishing Vessels, 1977 signed in Cape Town on the 11th day of October, 2012.