OBS_VALUE: A foreign vessel that is not registered/listed in a foreign State may be registered if the foreign company has a Canadian-incorporated subsidiary in Canada;  the company has an employee or a director of a branch office that is carrying out business in Canada; or it has a ship management company incorporated under Canadian law. Under Section 64, a Canadian vessel has the right to fly the national flag. According to section 2, a Canadian vessel is a vessel registered or exempted from registration pursuant to part II of the Act.