These Regulations amend the Port Regulations (2008 Revision) in regulation 148(1) by inserting after the words “such vessel” the words “but where a local vessel is used for commercial purposes, the owner of the vessel shall be exempt from paying the fee so specified in respect of such vessel”. Regulation 148 stipulates that the owner of a vessel specified in subregulation (2) shall, on or before in each year, obtain from the Director in respect of the vessel a licence upon payment to the Directo