Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Authority may cancel a certificate issued under section 18 for a ship if it is satisfied that the registered owner of the ship is no longer maintaining insurance or other financial security for the ship in an amount that will cover the limits of liability referred to in paragraph 1 of Article 7 of the Bunker Oil Convention in relation to the ship.
(2) The Authority must give notice of the cancellation to:
(a) the registered owner of the ship; and
(b) the master (if any) of the ship; and
(c) if, when the certificate was issued, the ship was registered in a foreign country that was not a country to which the Bunker Oil Convention applied--the foreign country.
(3) The cancellation takes effect on the day specified in the notice of cancellation.