Thank you, Chair.
On this, the bill would require the seller to make a determination of whether or not the person has the ability, resources and intent. That could be based on a declaration, we've been hearing today, that would be made by the buyer as to their ability to handle the situation. The buyer needs to be informed as to the condition of the vessel in order to make that kind of a declaration.
Really, this is a transaction between the buyer and the seller, and it could depend on the type of vessel. If you're selling a very small vessel, it might look quite different from a vessel that's over, let's say, 24 meters in size. Therefore, it really is appropriate to the transaction. It's about the seller assuring themselves that the buyer is able to make that determination by having some good information as to the condition of the vessel, the buyer being satisfied by that information and, then, going through and completing the sale. The appropriate standard is, really, a matter between the buyer and the seller.