Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An issuing body m ay issue a tonnage certificate for a vessel if:
(a) an application for the tonnage certificate has been made to the issuing body under section 154 ; and
(b) the issuing body is satisfied that the criteria prescribed by the regulations in relation to the issue of the tonnage certificate are met .
(2) A tonnage certificate is subject to:
(a) the conditions (if any) prescribed by the regulations; and
(b) the conditions (if any) imposed by the issuing body.