local fishing vessel

means any fishing vessel registered in the Republic which is—

(a)	wholly owned and controlled by one or more South African persons;

(b)	wholly owned by the State;

(c)	wholly owned and controlled by any body corporate, society or other association of persons incorporated or established under the laws of the Republic and in which the majority of the shares and the voting rights are held and controlled by South African persons; or

(d)	wholly owned by a body corporate designated as an authorised body corporate by the Minister;