(1)
Any mechanically propelled inland vessel, which is wholly owned by-
(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.