Certificate of Philippine Registry.
Section 806
Section 806. Certificate of Philippine Registry.—Upon registration of a vessel of domestic ownership, and of more than fifteen tons gross, a certificate of Philippine registry shall be issued for it. If the vessel is of domestic ownership and of fifteen tons gross or less, the taking of the certificate of Philippine registry shall be optional with the owner. "Domestic ownership', as used in this section, means ownership vested in citizens of the Philippines or corporations or associations of more than forty percent of the capital or capital stock of the association or corporation is conferred upon or allowed to be exercised by any person not a citizen of the Philippines."