Exemption of pleasure craft from section 18 of Act and application of provisions of Act to pleasure craft
22.—(1) Section 18 of the Act shall not apply to a pleasure craft registered under this Part and —
(a)
such pleasure craft shall not be required to be transferred by a bill of sale; and
(b)
no mortgages shall be recorded in its register.
(2) As regards any matter in relation to a pleasure craft, its owner or its register for which no special provision has been made by these Regulations, the provisions of the Act or any regulations made thereunder as are applicable in respect of any such matter in relation to a ship registered under Part II of the Act, its owner or its register shall, with the necessary modifications, apply.