Saturday, May 30, 2009
The Senate of Palau's national legislature approved on third and final reading the 107-page proposal to create an open ship registry. Under the Bill, any sea-going vessel not operating exclusively in Palau’s waters may be registered on Palau’s registry, provided that a “qualified person” owns it. A “qualified person” is defined as a Palauan citizen, a corporation wholly owned by Palauan citizens, the Palauan National Government, or any person or corporation that the Minister of Industries, Infrastructure and Commerce determines is a qualified person. Click here to read more.
Hat tip to the East-West Center.