12. Mooring site owner's rights limited
(1) The registered owner shall not assign, sell or otherwise dispose of any rights associated with the mooring site without first obtaining the approval of the controlling authority in writing.
(2) Where a registered owner is a body corporate a change effecting alteration to the beneficial ownership of one half or more of the shares in its capital shall be deemed an assignment requiring approval under subregulation (1).
(3) The controlling authority may transfer the registration of a registered mooring site ¾
(a) upon receipt, where it so requires, of a satisfactory inspection report pursuant to regulation 14(2);
(b) after the ownership of the vessel or other floating object in respect of which registration is effected has been assigned or disposed of by the registered owner and the person who has acquired the vessel or other floating object requests the controlling authority to approve the transfer and that request is supported by evidence that the vessel or other floating object has been transferred;
(c) upon a transmission to a person entitled to the registered mooring site under the estate of a deceased registered owner.
[Regulation 12 amended in Gazette 11 Dec 1998 p. 6651.]