(1) The Council shalI, before recommending the licensing of a local industrial or semi-industrial fishing vessel, ensure that the vessel bears identity markings consisting of letters and numbers allocated to the vessel by the competent authority.
(2) A person shalI not operate a local industrial or semi-industrial vessel which does not bear the identity markings.
(3) A person who contravenes subsection (2) commits an offence and is liable on summary conviction to a fine of not less than
(a) $1,000 and not more than $10,000 in the case of a local industrial fishing vessel, or
(b) fifty penalty units and not more than five hundred penalty units in the case of a local semi-industrial fishing vessel, and in addition the catch and the fishing gear used in the commission of the offence may be forfeited to the Republic.