Every Registrar of Sri Lanka Ships shall keep a book (to be called the register book) and entries in that book shall be made in accordance with the following provisions:
(a) the property in a ship shall be divided into sixty-four shares;

(b) subject to the provisions of this Act with respect to joint owners or owners by transmission, not more than sixty-four individuals shall be entitled to be registered at the same time as owners of any one ship :
Provided, however, that the preceding provisions of this paragraph shall not affect the beneficial interest of any number of persons or of any company represented by or claiming under or through any registered owner or joint owner;

(c) a person shall not be entitled to be registered as owner of a fractional part of a share in a ship, but any number of persons not exceeding five may be registered as joint owners of a ship or of any share or shares therein;

(d) joint owners shall be considered as constituting one person only as regards the persons entitled to be registered, and shall not be entitled to dispose in severally of any interest in a ship, or in any share therein in respect of which they are registered; and

(e) a body corporate may be registered as owner by its corporate name.

Application for registry

(1) An application for the registry of a ship shall be made
(a) in the case of natural persons, by the person applying to be registered as owner, or by some one or more persons so applying if more than one, or by his or their agent;

(b) in the case of the Ceylon Shipping Corporation, or any Government-Sponsored Shipping Company or Corporation, by their agent; and

(c) in the case of other bodies corporate, by their agent, and the authority of the agent shall be testified by writing, if appointed by natural persons, under the hands of the appointers, and if appointed by a body corporate, under the common seal of that body.
(2) The Registrar may demand proof of ownership to his satisfaction before proceeding with the registry of a ship.