Sec. 3529. LARGE RECREATIONAL VESSEL REGULATIONS
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## SEC. 3529 LARGE RECREATIONAL VESSEL REGULATIONS ###
(a)In General **[**[46 U.S.C. 4302 note](/us/usc/t46/s4302)**]** ####
(1)Issuance The Secretary of the department in which the Coast Guard is operating shall issue large recreational vessel regulations applicable to any recreational vessel (as defined in section 2101 of title 46, United States Code) over 300 gross tons as measured under section 14502 of such title, or an alternate tonnage measured under section 14302 of such title as prescribed by the Secretary under section 14104 of such title, that does not carry any cargo or passengers for hire. ####
(2)Scope and content of regulations The regulations issued under this subsection— #####
(A)subject to subparagraph (B), shall be comparable to the code set forth in Merchant Shipping Notice 1851(M) (commonly referred to as the “Large Commercial Yacht Code (LY3)”), as published by the Maritime and Coastguard Agency of the United Kingdom on August 20, 2013, or an equivalent code, regulation, or standard that is acceptable to the Secretary; and #####
(B)shall require that, as part of the review of an application for documentation of a vessel that is subject to the regulations, the owner shall disclose to the Coast Guard— ######
(i)the identification and place of residence of such owner; and ######
(ii)if the owner is an entity described in paragraph (2), (3), or
(4)of section 12103(b) of title 46, United States Code, the beneficial owners of such entity. ####
(3)Deadline The Secretary shall issue regulations required by paragraph
(1)by not later than one year after the date of the enactment of this Act. ####
(4)Interim compliance Until the effective date of regulations issued under paragraph (1), a recreational vessel described in paragraph
(1)shall not be subject to inspection under section 3301(7) of title 46, United States Code, if the Secretary determines, as part of the review of the application for documentation submitted for the vessel by the owner of the vessel and other materials as considered necessary by the Secretary, that the vessel complies with the code set forth in Merchant Shipping Notice 1851(M) (commonly referred to as the “Large Commercial Yacht Code (LY3)”), as published by the Maritime and Coastguard Agency of the United Kingdom on August 20, 2013, or an equivalent code, regulation, or standard that is acceptable to the Secretary. ####
(5)Definitions #####
(A)Beneficial owner In this subsection the term “beneficial owner”— ######
(i)means, with respect to an entity, each natural person who, directly or indirectly— ######
(I)exercises control over the entity through ownership interests, voting rights, agreements, or otherwise; or ######
(II)has an interest in or receives substantial economic benefits from the assets of the entity; and ######
(ii)does not include, with respect to an entity— ######
(I)a minor child; ######
(II)a person acting as a nominee, intermediary, custodian, or agent on behalf of another person; ######
(III)a person acting solely as an employee of the entity and whose control over or economic benefits from the entity derives solely from the employment status of the person; ######
(IV)a person whose only interest in the entity is through a right of inheritance, unless the person otherwise meets the definition of “beneficial owner” under this subparagraph; and ######
(V)a creditor of the entity, unless the creditor otherwise meets the requirements of “beneficial owner” under this subparagraph. #####
(B)Owner In this subsection, other than in subparagraph
(A)of this paragraph, the term “owner” means the person who is the eligible owner of the vessel for purposes of section 12103(b) of title 46, United States Code. ###
(b)Conforming Amendment Section 3302 of title 46, United States Code, is amended by adding at the end the following: > > ### “(n) > > > ####
(1)> > A seagoing motor vessel is not subject to inspection under section 3301(7) of this title if the vessel— > > > ##### “(A) > > is a recreational vessel (as defined in section 2101 of this title) over 300 gross tons as measured under section 14502, or an alternate tonnage measured under section 14302 of this title as prescribed by the Secretary under section 14104 of this title; > > > ##### “(B) > > does not carry any cargo or passengers for hire; and > > > ##### “(C) > > is found by the Secretary to comply with large recreational vessel regulations issued by the Secretary. > > > #### “(2) > > This subsection shall apply only on and after the effective date of regulations referred to in paragraph (1)(C).” > . ## Subtitle C Coast Guard and Shipping Technical Corrections ## CHAPTER 1 COAST GUARD
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Sec. 3529
LARGE RECREATIONAL VESSEL REGULATIONS
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