s 190 Liability of beneficial owners
190.—(1) Where any person has a beneficial interest in any ship or any share therein registered in the name of some other person as owner, the person so interested, as well as the registered owner of the ship, is subject to all pecuniary penalties imposed by this Act or any other written law on the owner of the ship or the shares therein and proceedings may be taken for the enforcement of any such penalty against both or either of the aforesaid parties, with or without joining them. (2) For the purpose of this section, a person who has an interest in any ship or any share therein by way of mortgage, charge or lien, is not deemed to have a beneficial interest in the ship unless the person is in possession of the ship.