Section 48

Where any person is beneficially interested, Liability of otherwise than by way of mortgage, in any ship or share in a owners ship registered in the name of some other person as owner, the person so interested shall, as well as the registered own-er, be subject to all pecuniary penalties imposed by this Act or any other written law on the owners of ships or shares therein, so nevertheless that proceedings may be taken for the enforcement of any such penalties against both or either of the aforesaid parties, with or without joining the other of them.

In this Part "beneficial interest" includes, in rela-tion to Brunei ships, interests arising under contract and other equitable interests.